How a Chrome Extension is Mining Cryptocurrency

google chrome bitcoin extension

Cryptocurrency has become one of the quickest growing markets of the year, with many investors pouring in in large numbers. One of the newest fads in the cryptocurrency world is known as cryptojacking. This occurs when one user uses another users computer to mine cryptocurrency without them knowing.

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This practice has been known to occur on some shady websites, but also has a large amount of potential when looking to replace existing systems based on ad revenue. Several Google Chrome extensions have reportedly held these cryptojacking softwares within them, and only now does Google issue a warning before downloading these different softwares. A user review states that “do not use this extension as it comes loaded with a cryptocurrency mining script. Once installed it makes requests to coinhive, which eats up your CPU time and slows your computer down massively.” Despite negative reviews, many users still choose to download this software knowing that the consequences could make their computer extremely slow.

Don’t Forget to Join our FREE Text list! From Your Cell Phone Text the Phrase CRYPTO to 474747

The way that this works is through the process of mining. Cryptocurrency users buy and sell cryptocurrency, but in order for that transaction to go through, miners use high powered computers to solve computational problems. When these problems are solved, the miner is rewarded with a certain amount of cryptocurrency and the transaction is put through on the network. If one were to mine at home on a standard computer, it would not be nearly enough power to make any decent amount of money. When using a large amount of computers like these extensions do, it can generate a large amount of income. This has become a large security issue and many companies have put out software to help users recognize this type of scam and be able to spot it in its early stages.


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