Does China’s Crackdown Mean Curtains for Cryptojacking?

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In a move that could affect the frequency with which IoT devices are cryptojacked, China has battened down on financial services linked to cryptocurrency trading. The news has dampened the price gains from bitcoin’s bull run earlier this year, when it surged to a record high of $63,000 by April 13. As of mid-June 2021, the world’s most traded digital currency slumped to just $34,700, down from $39,000 one month ago. Cryptojacking involves criminals mining for virtual money by surreptitiously installing software on IT devices, having been granted permission.

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