Europol's 'Operation Endgame' Strikes Major Blow to Cryptojacking, Targets Monero Mining
Europol's 'Operation Avengers Endgame' has dealt a significant blow to cryptojacking, particularly targeting Monero mining. The operation, still ongoing, has led to arrests and the addition of cybercriminals to 'Europe's Most Wanted' list. Monero's hashrate has dropped dramatically, indicating potential disruption to its mining activities.
Operation Avengers Endgame focused on 'Droppers', malware that acts as an entry point for other malicious software. By targeting these droppers, Europol struck a critical infrastructure of cybercrime, potentially halting the spread of malware. The operation resulted in numerous servers and domains being taken down, along with arrests, including four individuals in Ukraine. Eight cybercriminals have been added to 'Europe's Most Wanted' list.
The operation may have also affected Monero mining. Monero is particularly attractive for cryptojacking due to its resistance to ASIC and GPU mining and the anonymity of its transactions. The hashrate, a measure of the network's computing power, dropped significantly from 2.9 gigahash on May 29 to 1.78 gigahash on May 31, losing more than a third within two days. This decline could be attributed to the disruption of Monero mining operations during the operation.
The damage caused by infections from the targeted botnet amounts to several hundred million euros across Europe. One prime suspect is alleged to have earned at least 69 million euros in cryptocurrencies by renting out the dropper to ransomware hackers.
Europol's Operation Avengers Endgame has shown significant results in combating cryptojacking and Monero mining. The operation is ongoing, with more arrests and droppers/botnets expected to be taken down. The disruption to Monero's hashrate and the substantial financial losses indicate the operation's potential to disrupt cybercrime activities significantly.
