Home / For Business / Coinhive will shut down its cryptomining service in March 8, 2019

Coinhive will shut down its cryptomining service in March 8, 2019

The famous service Coinhive for the legitimate mining of cryptocurrencies, which many intruders so fond of, will soon cease to exist.

Owners of the service reported that he had left to live exactly until March 8, 2019. The corresponding post was posted on the Coinhive blog, which states the following:

Some of you might have anticipated this, some of you will be surprised. The decision has been made. We will discontinue our service on March 8, 2019. It has been a blast working on this project over the past 18 months, but to be completely honest, it isn’t economically viable anymore.

The drop in hash rate (over 50%) after the last Monero hard fork hit us hard. So did the “crash“ of the crypto currency market with the value of XMR depreciating over 85% within a year. This and the announced hard fork and algorithm update of the Monero network on March 9 has lead us to the conclusion that we need to discontinue Coinhive.

Thus, mining will not be operable anymore after March 8, 2019. Your dashboards will still be accessible until April 30, 2019 so you will be able to initiate your payouts if your balance is above the minimum payout threshold.

Thank you all for the great time we had together.

Source: https://coinhive.com/blog

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About Daniel Zimmermann

Daniel Zimmermann has been writing on security and malware subjects for many years and has been working in the security industry for over 10 years. Daniel was educated at the Saarland University in Saarbrücken, Germany and currently lives in New York.

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