Mining

Big Apple Authorities Providing Some Reprieve To Cryptocurrency Miners

New York City State is providing some reprieve to cryptocurrency miners after its regulatory authorities authorized a brand-new electricity rate for an upstate utility that lets mining ventures work out deals there. On Thursday, state legislators reduced the fees for Massena’s municipal utility, which will evaluate its agreements with miners on a specific basis. The move happens after a March order that The big apple officials sent off to 36 municipal power authorities, consisting of Massena’s, to increase the rates for miners while leaving them unchanged for consumers. New York has become an appealing location for cryptocurrency miners because of its wealth of hydropower sources and the resulting inexpensive electricity. The circumstance in the state is comparable to that in c...

Man Who Illegally Mined $45.00 Worth Of Monero Becomes The First To Be Sentenced In Japan

Japanese authorities have issued out their first ever sentence for a malicious crypto mining offence according to reports out today. Interestingly though, the person in question has only been found guilty of illegally mining just $45.00 worth of Monero. Hardly worth going to prison for, is it? We can’t be sure if this is just the start of a bigger investigation, or if this is just a case of the authorities trying to make an example of someone, either way though, it carries a very strong message that no form of malicious mining or cryptojacking will be tolerated, no matter how little the value of mined currency is. According to reports, Yoshida Shinkaru (24) has been found guilty of using Coinhive to maliciously mine Monero by using an online gaming cheat tool to plant the Coinhive scripts ...

Report Finds That URL Shorteners May Be Enabling Crypto Jacking

A new report has found that URL shorteners could be being used to enable malicious cryptocurrency mining. If you don’t know what a URL shortener is, then you’re probably not at risk of this, however just for clarity; a URL shortener is a website that allows you to shorten a URL, this is useful for social media and emails for example. You can do this via websites such as tinyurl.com, in fact, here’s an example from their website: Turn this URL: https://www.amazon.com/Kindle-Wireless-Reading-Display-Globally/dp/B003FSUDM4/ref=amb_link_353259562_2?pf_rd_m=ATVPDKIK X0DER&pf_rd_s=center-10&pf_rd_r=11EYKTN682A79T370AM3&pf_rd_t=201&pf_rd_p=1270985982&pf_rd_i=B002Y27P3M into this TinyURL: https://tinyurl.com/KindleWireless Coinhive, the website that allows users to embed JavaSc...

Kaspersky Warn Of The Potential Damage Caused By Mobile Miners

With more and more instances of malicious mining attacks, people are failing to recognise the problems that can be caused by this sort of activity. Often, these sorts of attacks can be seen as harmless, at the end of the day, they simply just utilise a small amount of your computing power, right? Whilst this may be the case, often, there is a great deal of principle that needs to be considered here. A malicious attack is a malicious attack and therefore, victims of attacks can be at risk. Even if it is just a case of stealing hashing power, mobile mining attacks are a breach of your privacy and can also put your data at risk. Therefore, don’t see this as a surface level issue, this is a real problem a problem that needs to be solved. According to a Kaspersky Lab press release:   “The ...

Bitfury Allows For Private Chain Anchoring On Public Networks Thanks To Java Integration

Bitfury, a mining and blockchain software service company, wants to push blockchain development for traditional enterprise and business, and announced that it is introducing Java binding for its blockchain service, Exonum. This is expected to be available soon, and will come with a software development kit that will allow the developers to build private chains on Exonum that can then be anchored to public blockchains. Binding allows data that has been written in one coding language to interact with libraries that have been written in another coding language, which will ultimately allow Java developers to create private blockchains on top of Exonum’s framework. This Java binding will provide a lot of organisations with the tools required to tailor private blockchain networks to fit their ne...

Pedalling Into The Future Of Crypto Mining

Innovative solutions for cryptocurrency mining seem to be cropping up more and more. A few months ago, we actually reported on a cryptocurrency mining heater that used the heat generated from GPU’s in order to heat an element which in turn would be used to provide heat to your home. The device, albeit super abstract, seemed to fall straight out of a dystopian thriller novel. This latest concept – a cryptocurrency mining bicycle seems to follow just that trend. Supper innovative, yet a little freaky. According to a report by Alphr, UK based bicycle manufacturers, 50cycles, have created an electronic bicycle that uses pedal power to mine for cryptocurrency. At present, the bike mines LoyalCoin, allegedly at a rate of around £20.00 per 1000 miles. To put that into perspective, based on an ave...

Entrepreneur Acquires Two UK Power Plants To Create Power For Mining

According to The Statesman, an Indian ex-pat by the name Varun Datta has acquired two UK based power plants to bolster the operations of blockchain energy firm, 4NEW. The plans in question, are not traditional coal power plants, nor are they of the nuclear persuasion, instead, Datta has managed to secure two ‘waste to energy’ power plans, which use Anerobic Digestion Technology to convert household waste into electricity. Anerobic Digestion Technology uses microorganisms to break down biodegradable materials such like we may find in our household waste. By cutting the supply of oxygen to the waste, the microorganisms operate through anerobic respiration, this form of respiration contributes to the creation of gases, gases that can in turn be used to fuel the power generation process, leadi...

Japanese Court To See First Ever Case Against Crypto Jackers

Japan are sending out a very bold message to the rest of the world when it comes to cryptocurrencies. It’s a very firm but open message, yes, cryptocurrencies are welcomed and encouraged in Japan, but, if you break the rules, you’ll suffer the consequences. Frankly, this is exactly what the rest of the world needs, an authority figure that seems to be doing it right. Back to the point anyway. According to reports out today, Yokohama District Court in Japan will be the first to host a case against three crypto-jackers who are accused of malicious activities within the Monero network. The activities in question include using ‘Coinhive’ to maliciously mine Monero. Not only is this the first time such a case has reached the courts in Japan, it could very well see the three accused become the f...

Has Your Amazon Fire Device Been Hacked By Crypto-Miners?

Yesterday, we saw a wealth of reports highlighting that a number of Amazon Fire products have been hacked by cryptocurrency mining malware, designed to utilise the hardware processing power to authenticate transactions on the blockchain. Whilst this may not seem problematic, it can have adverse effects on your internet connection and energy bills. Moreover, it is a breach of privacy and confidentiality, nobody wants that do they. The Amazon Fire products affected include Amazon Fire TV and the Amazon Fire Stick. The problem is caused by a malicious package called ADB.Miner. It installs itself as an application on your device called ‘Test’ complete with the package name ‘com.google.time.timer’ according to TrustedReviews.com. As it stands, only Amazon Fire devices that have been set to enab...

Techradar’s Top Mining Pools For 2018

If you want to get into cryptocurrency mining, you’ll no doubt have started doing your research, sat back and then remained totally perplexed by the jargon and the notion of actually mining cryptocurrency. Whilst it may not seem like a financially viable plan, often, cryptocurrency mining can result in nice returns, although, as you probably know, the activity of mining is time consuming, energy consuming and of course, hard to grasp. Today, Techradar have published an article which highlights their top mining pools for 2018. We believe this is something quite important (hence the article), as, if you’re a newbie and want to actually get into the mining community, Techradar have located some important factors for you to consider. Before we continue, just to clear up the confusion, a mining...

The Great Tezos Bake Off

Nope, this is not a reference to Paul Hollywood, nor is it a sentiment to Mary Berry, this is an article about baking, the new alternative to mining that is, all in all, most fantastic. The phrase seems to come from Tezos, a new smart contract and Dapp platform. As it stands, Tezos is now running a BetaNet and thus is well on the road towards a full launch, at the moment though, the project is still in its early stages. You can find out more about Tezos, for yourself, here- https://tezos.com/ Back to baking… In a post on Medium, Tezos Validator ArthurB has uploaded a post in which they describe the differences between baking and mining. You can see the full post on Medium, for yourself, here- https://medium.com/tezos/its-a-baker-s-life-for-me-c214971201e1 According to ArthurB: “In Bitcoin,...

Hundreds Of Websites Affected By Another Cryptojacking Incident

The world of cryptocurrencies has never been one without its fair share of controversy and problems which constantly leads to people being skeptical about the alternative economic system. In a string of similar attacks which have been going on for a while now, hackers have managed to infect hundreds of websites with software which enables them to make use of other peoples’ computers to mine cryptocurrency for them through their browsers. Drupal Content Management System In this recent most cryptojacking attack, hundreds of websites which make use of the Drupal Content Management system have been injected with the malicious software which is sued to mine cryptocurrencies by using other peoples’ computational power to mine Monero. This attack has been discovered by the security researcher wh...

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