China to Ban Crypto Events in Guangzhou’s Economic Zone

Such actions indicate a hostile attitude to the crypto industry by the Chinese authorities
29 August 2018   689

The Chinese authorities have banned the holding of promotional events dedicated to the cryptoindustry, in the zone of technical and economic development in Guangzhou. This is reported by South China Morning Post.

According to the government, these measures are aimed at "maintaining the security and stability of the financial system of the region." Note that the ban on holding crypto-events in office buildings, hotels and shopping centers was first introduced on August 17 by the Chaoyang authorities in Liaoning Province.

Such actions indicate a hostile attitude to the crypto industry by the Chinese authorities. Last week a number of local media published information that financial regulators intend to block access to 124 foreign crypto exchange sites providing services to residents of the country.

Private corporations also joined the tough cryptocurrency policy. For example, the messenger WeChat, developed by the technological giant Tencent, blocked media accounts related to blocking and cryptocurrencies. Also, the search giant Baidu began to censor and ban similar topics on the platform of Baidu Tieba.

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.