Monero (XMR) has been coveringfor a price range from $60 to $62. Thetoken recently traced a falling wedge with a lower-high pattern. The SMA lines continue to show a negativesign. The symbol is trading with a bearish impact on the current trend.

The price of XMR is reflective ofthe overall sluggish trend prevalent in the cryptocurrency market. The coin is touching upon a 50-day SMA valueof $58.18. Technical indicators arepositive, and the coin is currently going through selling pressure. The price decline of more than 5% has pushedthe coin below $59.

The current news doing the roundsis about the Monero project to have been hacked to deliver for a currencystealing malware. The malware has beendelivered to those users who were downloading the wallet software.

The details of the attack cameinto light when one of the users stated that the "cryptographic hash for acommand-line interface wallet downloaded from the site didn't match the hashlisted on the page.”

It was later found out that themismatch was not due to an error; instead, it was an attack that wasstrategically planned to GetMonero users to get infected with malware. The findings were further confirmed by siteofficials.

The site officials later stated, “It's strongly recommended to anyone who downloaded the CLI wallet from this website between Monday 18th, 2:30 AM UTC and 4:30 PM UTC, to check the hashes of their binaries. If they don't match the official ones, delete the files and download them again. Do not run the compromised binaries for any reason."

When the malicious Linux Binarywas analyzed, a few new functions were found apart from the legitimateone. A user opened the function tocreate a new wallet. The wallet seed wassent. This is the cryptographic secretthat was used to access wallet funds. Then the malware sent the funds to the servers, which were located atthe node.

This incident serves to remind users that they need to check the summaries before installing the software. While Monero has stated that they have removed the compromised files, at least one of the users reported losing funds. The user said, "I can confirm that the malicious binary is stealing coins. Roughly 9 hours after I ran the binary, a single transaction drained the wallet of all $7000.”

So, Monero as a private digital currency stays checked on its secure, private, untraceable and fungible promise.