Barclays bank and CLS Group to find Swift alternative

Barclays bank partners with CLS Blockchain Consortium  in order to find Swift alternative
26 September 2017   1910

The second largest asset in Britain, Barclays bank, joins the CLS Group consortium in order to develop a system for rapid and secure foreign exchange transfers, an alternative for SWIFT transactions.

As reported by coindesk.com, Lee Braine, from the Barclays Investment Bank's CTO office, claims that the institution has become interested in the project due to the fact that the CLS platform is to operate side-by-side with the existing SWIFT solution, rather than being forced on customers.

People can connect via Swift or via a new [distributed ledger technology] connection mechanism. So, you have a choice.
 

Lee Braine
Investment Bank CTO Office

Thus, Barclays will now work alongside the group's other members, including JPMorgan Chase, Goldman Sachs and Bank of China, aiming to bring new levels of efficiency and security to the forex settlements industry.

As reported, the platform called CLS Net is expected to let participants trade global currencies using six different kinds of blockchain-based products. Hyperledger Fabric is to serve as the basis of the new platform.

Chinese Miners to Fall Victims of Ransomware

Looks like ransomware came together with "improved" firmware, that should "overclock" device
21 January 2019   79

In China, a ransomware spreads, victims of which are Bitcoin miners. The damage from its activities is measured in tens of thousands of dollars. This is reported by Trustnodes.

The virus infects miners, released by Bitmain, and requires you to send 10 bitcoins, otherwise threatening to cause overheating of the device.

The problem is solved by formatting the SD card of the infected device, however, as Trustnodes notes, the whole process can take up to four days, while malicious software rapidly spreads to the other miners.

Compromised device
Compromised device

Probably, the virus comes with an "improved" firmware for miners. Some owners install such firmware to “overclock” their ASIC devices and improve their performance.

The first messages about the virus refer to August last year. In particular, Antminer S9, T9 and even L3 + for Litecoin were attacked. Over time, the malware has been improved. Now its distributor himself can decide when to display a message requesting a ransom. One miner also said that one night the address to which the 4,000 devices belonging to him sent the mined cryptocurrency was changed to the address of the hacker, which brought him $ 8,000.