Transaction fees fluctuate due to cryptocurrency market conditions and other factors. In addition, if you choose to exchange crypto for another currency, you may be required to pay fees to an exchange facilitating the transaction. “Transfers of cryptocurrencies may result in transaction fees (also known as “gas” fees) paid to the users of the cryptocurrency blockchain network who process the transaction. “The coin mining fee is currently 15% of the crypto allocated to the miner,” the FAQ explains. Norton Crypto lets users withdraw their earnings to an account at cryptocurrency platform CoinBase, but as Norton Crypto’s FAQ rightly points out, there are coin mining fees as well as transaction costs to transfer Ethereum. “It’s disgusting, gross, and brand-suicide.” “Norton is pretty much amplifying energy consumption worldwide, costing their customers more in electricity use than the customer makes on the mining, yet allowing Norton to make a ton of profit,” tweeted security researcher Chris Vickery. Crypto mining causes one’s computer to draw more power, which can increase one’s overall electricity costs. Mining cryptocurrencies basically involves using your computer’s spare resources to help validate financial transactions of other crypto users. It’s an open question whether Norton Crypto users can expect to see much profit from participating in this scheme, at least in the short run. What’s the next ‘bright idea’? Norton Botnet? ‘ And I was just about to re-install Norton 360 too, but this has literally has caused me to no longer trust Norton and their direction.” “Norton should be DETECTING and killing off crypto mining hijacking, not installing their own,” the post reads. “How on Earth could anyone at Norton think that adding crypto mining within a security product would be a good thing?,” reads a Dec. However, many users have reported difficulty removing the mining program.įrom reading user posts on the Norton Crypto community forum, it seems some longtime Norton customers were horrified at the prospect of their antivirus product installing coin-mining software, regardless of whether the mining service was turned off by default. “If users have turned on Norton Crypto but no longer wish to use the feature, it can be disabled by temporarily shutting off ‘tamper protection’ (which allows users to modify the Norton installation) and deleting NCrypt.exe from your computer,” NortonLifeLock said in a written statement.
NortonLifeLock says Norton Crypto is an opt-in feature only and is not enabled without user permission. 4, when Boing Boing co-editor Cory Doctorow tweeted that NortonCrypto would run by default for Norton 360 users. NortonLifeLock began offering the mining service in July 2021, and early news coverage of the program did not immediately receive widespread attention. “The key to the wallet is encrypted and stored securely in the cloud. “Norton creates a secure digital Ethereum wallet for each user,” the FAQ reads.
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The FAQ also says Norton Crypto will only run on systems that meet certain hardware and software requirements (such as an NVIDIA graphics card with at least 6 GB of memory). In 2017, the identity theft protection company LifeLock was acquired by Symantec Corp., which was renamed to NortonLifeLock in 2019 (LifeLock is now included in the Norton 360 service).Īccording to the FAQ posted on its site, “ Norton Crypto” will mine Ethereum (ETH) cryptocurrency while the customer’s computer is idle. Norton 360 is owned by Tempe, Ariz.-based NortonLifeLock Inc.
But many Norton users complain the mining program is difficult to remove, and reactions from longtime customers have ranged from unease and disbelief to, “Dude, where’s my crypto?” Norton’s parent firm says the cloud-based service that activates the program and allows customers to profit from the scheme - in which the company keeps 15 percent of any currencies mined - is “opt-in,” meaning users have to agree to enable it. Norton 360, one of the most popular antivirus products on the market today, has installed a cryptocurrency mining program on its customers’ computers.
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