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You probably haven’t heard of MyKings, mainly because it’s not ransomware and the gang isn’t currently slamming businesses up against the wall by demanding money, so it hasn’t made big enough waves to make the headlines.
In simple terms, MyKings is all about illicit Monero cryptomining, and at the current low price of Monero, our researchers estimate that on some days the crooks are only making about $300.
For all we know, MyKings might be little more than a sideline hobby for the people running it (albeit a hobby pulling in a quiet and untaxed $100,000 a year, of course).
Compared to the multimillion dollar extortions that some cybercrime gangs are demanding for ransomware recovery, it’s easy to write off malware like MyKings as unimportant and therefore not worth trying to learn from.
But that couldn’t be further from the truth, because the MyKings story gives a fascinating insight into a type of cybercrime that involves a huge amount of complexity, and has a surprising reach.