Cryptocurrency Miner Spreading via Facebook

Trend Micro Inc. found a new cryptocurrency-mining bot which mines Monero coins in the background while infected users browse the Internet
22 December 2017   4188

Trend Micro Inc. ,a Japanese multinational cyber security company founded in Los Angeles, published a report yesterday, stating that the company found a new cryptocurrency-mining bot spreading through Facebook Messenger. 

Digmine, as it was called, appears in the chat as not a built-in video file. When the user activates the file, the so-called video downloads components from a remote server to install the Chrome extension. Then the extension uses personal Facebook data to send it to friends of the user.

Digmine mines cryptocurrency in the background, while infected users browse the Internet. The component for mining, represented as codec.exe on a PC, is a modified version of Monero Miner with open source code called XMRig. It remains in contact with the remote server while it generates Monero coins.

Digmine Digmine’s attack chain

According to Trend Micro, Digmine is spreading in many regions such as South Korea, Vietnam, Azerbaijan, Ukraine, Vietnam, Philippines, Thailand, and Venezuela.

Iran to Issue Over 1000 Mining Licenses

Amir Hossein Saeedi Naeini from Iranian ICT Guild Organization said that crypto mining industry attracts many in Iran
27 January 2020   171

Over the past six months, the Iranian Ministry of Industry has issued more than 1000 cryptocurrency mining licenses. This was announced by Amir Hossein Saeedi Naeini, representative of the ICT Guild Organization.

According to him, cryptocurrency mining is a new industry that attracts many in Iran. He noted that miners must obtain a license to work.

The Ministry of Industry, Mine and Trade has issued more than 1,000 licenses for cryptocurrency mining in the country. Our studies show that the crypto mining industry has the potential to add $8.5 billion to the economy.

 

Amir Hossein Saeedi Naeini

 ICT Guild Organization

 He believes that the cryptocurrency industry can help Iran's economy. However, he explained that the high cost of electricity is a serious problem for cryptocurrency miners.

High electricity tariffs plus stringent regulations have made the sector less appealing for small investors.

 

Amir Hossein Saeedi Naeini

 ICT Guild Organization

 He expressed the opinion that “the operating conditions in this industry should not be such that only large capitalists enter the cryptocurrency mining market but that all miners can operate.” He emphasized that changing electricity tariffs could stimulate the mining industry to generate more revenue.