Monero (XMR) enthusiasts identified potential malicious activity and issued a warning to all privacy advocates
Monero (XMR), the most popular privacy-focused blockchain network, warns XMR holders of abnormal transaction fees and again recommends deploying self-hosted nodes.
Here’s why increased transaction fees might be dangerous
According to the statement released in the largest Monero (XMR) account, some network users reported the suspicious increase in transaction fees.
If any particular Monero (XMR) node is charging too high a fee, users should try switching to another remote node. Interacting with malicious nodes can lead to privacy breaches, Monero (XMR) enthusiasts have pointed out.
Malicious nodes can try to learn some extra information about accounts involved in transactions and their owners. This is in contrast to the decentralization and privacy ethos of Monero (XMR).
Additionally, to ensure the highest level of privacy, crypto users should run their own nodes as Monero Network (XMR) endpoints for non-custodial wallets.
Monero (XMR) fees print multi-month highs while hashrate drops
As registered by public explorers, Monero (XMR) fees spiked in recent days. On April 26, 2022, average XMR fees jumped over $0.24, while typically this metric sits below $0.05.
The last time transaction fees for Monero (XMR) were so high was in January 2021.
At the same time, the net hashrate of the Monero (XMR) network plummeted in the last five days. It dropped from 3.27 GHashes per second to 2.82 GHashes per second since April 23, 2022.
