Mining

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...

China Might Have Iceland’s Missing Mining Equipment

In a series of thefts across the months of December 2017 to January 2018, Iceland saw one of the biggest heists that the country has ever known. Approximately $2 million worth of equipment was stolen from data centers in the country over the course of time. Believed to be masterminded by Sindri Thor Stefansson, this was one of the biggest incidents of theft in the country which is fast becoming a haven for cryptocurrency mining due the favorable natural conditions. According to reports, the series of burglary resulted in the theft of over 600 PCs, 100 power supplies. 100 motherboards, 100 CPUs, 100 memory disks and 600 graphics cards from data centers, which are situated in the North Western and South Western part of the country from December 5th of 2017 to January 16th of 2018. This put t...

Bitcoin Cash Miners At Risk From New Vulnerability, Update To Bitcoin-ABC 0.17.1 Now!

Yesterday, Bitcoin ABC have published an incident report which contains information about a critical vulnerability for Bitcoin Cash miners who are using Bitcoin-ABC 0.17.0. Whilst the vulnerability has now been removed, miners who have failed to run new updates could still be at risk and are therefore urged to update to Bitcoin-ABC 0.17.1 as soon as possible. If you feel you may be affected by this, please view the full incident report, here- https://www.bitcoinabc.org/2018-05-07-incident-report/ According to the report: “An attacker may construct a malicious transaction which would be accepted by Bitcoin-ABC 0.17.0 and mined into a block. This block would be rejected by all other versions of Bitcoin Cash compliant implementations. The malicious transaction would contain the bitflag of 0x2...

Ever Considered Knowingly Donating Your Processing Power To Miners?

Cryptocurrency and blockchain technologies present a number of great benefits to society, on a grand and international scale. Charity, is one such area, and indeed, one such area that I have a particular interest in. As a psychologist by trade, I am intrigued by how cryptocurrency may offer an ‘easy’ solution for people to part with cryptocurrency, in order to aid charity and provide charitable donations. Moreover, cryptocurrency doesn’t just mean physical donations and indeed, now it does seem that one large international charity have caught onto this, having developed a new method for processing power donations, which in turn, will allow the charity to mine the blockchain through your computer, generating income for them, at very little cost to yourself (other than perhaps an increase in...

17,000,000th Bitcoin To Be Mined Soon – What’s The Relevance?

With each new Bitcoin that comes into formation, the total supply becomes more and more limited. Within the coming few days, the 17,000,000th Bitcoin unit is going to be mined unless something unexpected happens. This Bitcoin, once mined will be yet another important mark for the world of Bitcoin. Why? Because there will only ever be 21,000,000 Bitcoins that will ever be made. In retrospect when we look at 2016, this is the first million marker to be hit since then. We’re reminded of the fact that Bitcoin actually managed to achieve something significant when it comes to computer coding. It has actually managed to create a rarity in the digital realm for something through this currency system based on distributed ledger technology. IT’s also something that was left open source for others t...

China’s Crackdown On Cryptocurrencies Continues

If there has been one country that has been at the forefront of anti cryptocurrency sentiments, it is the People’s Republic of China. Last year was the best year for cryptocurrencies across the board with most of them reaching their all time highs towards the end of the month. That amazing year however, was not without difficulties. It was wrought by aggressive action being taken by China to introduce regulations that would entail a blanket ban on any and all ICO trading within the country. The cryptocurrencies rose struggled for a bit since China was one of the countries with the highest trading volumes for cryptocurrencies in the world but they recovered and reached their new all time highs. China has since kept up its efforts to curb cryptocurrencies and completely banned the CNY based ...

Take A Look At The Profits AMD Has Made Through Mining Already

A report out today shows the immense profits made by hardware firm, AMD in the first quarter of 2018. According to CCN, as much as 10% of AMD’s revenue has been generated through the sale of mining hardware, providing another example of how cryptocurrency can benefit more than just its investors. According to CEO of AMD, Lisa Su: “I do think the blockchain infrastructure is here to stay. I think there are numerous currencies. There are numerous applications that are using the blockchain technology.” AMD’s CFO, Devinder Kumar extends this sentiment: “The strength in Radeon products was driven by both gaming and blockchain demand. We believe blockchain was approximately 10% of AMD revenue in Q1 2018.” We must also note that stocks in AMD have risen substantially, this is most likely as a res...

Suspect In Bitcoin Mining Equipment Heist Caught In Amsterdam

Last year was the biggest years for cryptocurrencies that has been seen so far in its almost decade long existence with different cryptocurrencies hitting their all time highs. That boom was at its peak in the December of 2017 and it was during that very successful run for cryptocurrencies across the board that people have been trying to take advantage of the price hike in any way they can. Crypto Boom And Rise In Crime Russia saw a group of nuclear scientists, who tried to make use of supercomputers that the Russian government owned in order to mine cryptocurrencies for their personal profit. England saw government websites being hacked in order to embed mining malware. The year was filled with such cases. One very notable case to be seen among the biggest crimes when it comes to cryptocu...

War On ASICs Might Not Be The Solution

The war on ASIC mining has been raging on in recent times in the cryptocurrency world. One of the largest cryptocurrencies in the world, Ethereum, has been one of those very active in the bid to make the blockchain network impervious to ASIC mining but if one of the core developers from the Ethereum blockchain network has its way, Ethereum might actually be welcoming ASIC miners. This war on ASIC miners has seen many of the cryptocurrencies like Ethereum and Monero take aggressive steps in order to ensure that their networks become ASIC resistant. Yet amidst all of this, one of the developers from the Ethereum blockchain network, Cody Burns, has made a proposal labeled ECIP-1043 that goes against the conventional opinion of the Ethereum community. In the proposal that was published by Burn...

How To Stop Your Company From Becoming A Victim Of Cryptojacking

If your company has a website, you could be leaving yourself open to crypto jackers, who will use your website to illegally mine digital currency, even if your company has absolutely nothing to do with them. The has affected major companies as well, with Tesla’s AWS cloud storage becoming affected with cryptocurrency mining software. The reason that these attacks are becoming more frequent is fairly simply. The cryptocurrency market is booming at the moment, and mining can be a very profitably business; but, it requires an enormous amount of computing power. So, it saves them an awful lot of money by infiltrating and accessing someone else CPU or GPU power as opposed to paying it for themselves. The risk is not just contained to computers either. Phones and the devices of visitors to the w...

How Bitcoin Heist Suspect Managed To Flee On Icelandic Prime Ministers Plane

It has been reported that the suspect who was reported to have been involved in a huge Bitcoin heist has reportedly escaped prison and fled to Sweden on the same plane that was also carrying the Icelandic prime minister. Sindri Thor Stefansson was the alleged mastermind behind the theft of 600 computers used to mine Bitcoin in Iceland. A crime he was sent to prison for. It has been reported that he escaped through the window of the low-security prison in rural southern Iceland where he was being held, before he boarded a flight to Sweden, that left from the international airport in Keflavik, located less than 60 miles from the prison. Police believe that he was not working alone, and travelled using a passport in someone else’s name, and was only identified through a surveillance video. Th...

Android Developers Believe Coin Mining May Start To Affect The Price Of Smartphones

A new article out today on Android Central by Jerry Hildenbrand discusses similarities between smartphones and computers that could eventually lead to the cost of phones increasing exponentially as a result of increasing demand for blockchain mining hardware. Current markets price phones at super high prices already, with new flagship iPhone and Samsung phones costing in excess of $1000 in some areas, the increasing demand for technology in general has caused the mobile phone market to boom. I believe this however is down to fashion trends, rather than a demand for cutting edge technology. In his article, Hildenbrand outlines the process of creating Random Access Memory Modules (RAM) that are used in both mobile phones and of course in computers that require increased memory for blockchain...

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