In most of the Western world, it is assumed that Cryptojacking is a crime or at least it is looked down upon. However, recent news coming from Japan indicates that it might not be so after all. Cryptojacking is spreading at a rapid pace. More and more hackers are opting for programs which borrow the computing power from the devices of the users. The computing power is then utilized for mining cryptocurrency. The most popular cryptocurrency for Cryptojacking is Monero (XMR). While it was widely believed that when these hackers are caught, there will be repercussions, but the news coming from Japan states otherwise.
Is Cryptojacking legal in some parts of the world?
Recently, a court in Japan stated that the web designer could not be put behind bars for Cryptojacking. The web designer used Coinhive program to borrow the computing power from the computers of the users. It helped him mine cryptocurrency from the user machine. Once he was caught, people expected that the court would not allow him to walk free. The prosecutors very appealing for a fine as the web designer did not take user’s consent. The court, however, stated that Coinhive (the program which helps with Cryptojacking) could not be considered a virus. Similarly, the court said that it would be excessive to award any punishment to the web designer. It means that the web designer walked free.
What are the ramifications of this news?
The Cryptojacking world is entirely new. There are very few precedents when it comes to punishments being awarded to Cryptojackers. If the lack of precedents continues, Cryptojackers can easily walk free in the future as well. It is one of the main reasons why such a ruling has wide ramifications. Moreover, cryptocurrencies are quite popular in Japan. It indicates that the Cryptojackers who might be living in Japan are shielded from the courts to a certain extent.
Can there be a cryptojacking safe haven?
Another problem which might crop up is there might be certain Cryptojacking safe havens which will increase the spread of cryptocurrency. If that happens, more and more users will get impacted by Cryptojacking software. In such a case, these users or other hackers will operate with impunity. They will have no fear of the law, and they will try to affect as many machines as possible. Soon, there might be some countries which might not consider Cryptojacking as a crime and might turn a blind eye towards it. For the cryptocurrency world, this might have large-scale implications in the future.
While Cryptojacking might not be legal in some parts of the world but sure enough, it is not considered as such a large crime either. The instance of Japan where the cryptojacker was allowed to walk free clearly indicates that there might be some parts of the world which make it relatively easy for the hackers to run Cryptojacking operations.