Chinese Hackers Mined $800k Worth Siacoin Hiddenly

According to the police, hackers in collusion with serving companies hacked 100,000 computers in Internet cafes in 30 Chinese cities
19 June 2018   771

In China, 16 people were arrested who earned $ 800,000 on the illegal mining of Siacoin cryptocurrency in the Internet cafes in dozens of Chinese cities, CoinDesk reports.

According to the police of Chinese Ruian (Zhejiang Province), hackers in collusion with serving companies hacked 100,000 computers in Internet cafes in 30 Chinese cities . Their income was 5 million yuan ($ 800,000).

Hackers used a malicious program that used the computing resources of infected devices to extract Siacoin crypto currency. Malicious software was sold to employees of computer maintenance companies who could download it to a PC in an Internet cafe during scheduled checks.

Suspicions arose in July 2017, when employees of Internet cafes in Ruyan noticed that their computers began to work very slowly. The CPU performance dropped by 70% even after the reboot.

Around the same time, the price of Siacoin according to CoinMarketCap grew by 400% from $ 0.002 in May to more than $ 0.01 in July. Accounts for utility services of Internet cafe Ruiana during this period also significantly increased. This caused their owners to contact the police.

Most Internet cafes in Ruian were served by one company. Its executive director was arrested in August last year, and disclosed information about hackers.

Huobi to Issue Loans for Miners

This is the part of services that will be available for russian clients of the crypto exchange
19 November 2018   57

Huobi, which opened an office with 30 employees in Moscow on November 12, expects to give Russian users access not only to trading functionality, but also something more. This reported by CoinDesk.

As previously reported, a new call center with Russian-language support opens on the basis of the Russian division, which in itself distinguishes Huobi against the background of such exchanges as Binance, OKEx and Bitfinex, which are currently not ready to provide support to users in Russian.

In addition, through the Russian division of Huobi will implement over-the-counter trading (OTC) and listings, as well as provide personal managers for large customers, its head Andrei Grachev said. .

Initially, Huobi’s plans were even more ambitious - the exchange wanted to give users the opportunity to make deposits in Russian rubles, but local experts did not advise it to do so.

They consulted with us a lot, and in the end, I think, we made them feel disappointed. They were interested in providing fiat operations, but we told them it’s impossible.
 

Vladimir Demin

Head of the Center of Digital Transformations, Russian government-owned development bank Vnesheconombank

Nevertheless, Russian users will be able to buy cryptocurrency for rubles through an over-the-counter service, and then transfer it to their trading accounts, Grachev said. The over-the-counter platform is already functioning, but for the time being it is used by very few users from Russia, so Huobi expects to attract new customers to its proposal with a favorable commission rate.

In addition, Huobi intends to issue loans to miners for the purchase of specialized ASIC equipment and lease premises for their placement. According to Grachev, the service can earn in the first quarter of next year.