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   2978

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.

Buterin to Propose to Increase PoS-Validators Reward

According to Vitalik proposal, if PoS-validators, for example, validate 1,000,000 ETH, then the annual yield will be 18.1%
23 April 2019   94

The creator of Ethereum, Vitalik Buterin, published on GitHub a proposal on changing the reward scheme for validators after the transition of ETH to the Proof-of-Stake consensus mechanism (PoS).

According to the formula proposed by Buterin, if PoS-validators, for example, validate 1,000,000 ETH, then the annual yield will be 18.1%.

Buterin PoS Validators Reward Proposal
Buterin PoS Validators Reward Proposal

The more assets are fixed for validation, the lower the interest rate. So, 134 217 728 ETH will bring cryptoinvestors only 1.56% per annum. At the same time, the maximum annual emission volume will be 2,097,152 ETH.

Considering that the current volume of Ethereum's market offer is 105,777,585 ETH, this offer is focused on the medium and long term. Buterin also clarified that the profitability indicators are shown without taking into account proceeds from transaction fees. Consequently, the actual income of validators can be several percent higher than the values ​​indicated in the table.

According to Justin Drake, a researcher at the Ethereum Foundation, if after implementing PoS 32 million ETH will be allocated for stacking, the income of validators will be 3.2% per annum. At the same time, the annual emission indicator will be 1% (for comparison, the current indicator of Bitcoin inflation is 3.94%).

In this case, Drake notes that after the activation of EIP 1559 of the funds collected in the form of commissions, will be destroyed. Consequently, with an average gas consumption of each shard of 1000 ETH per year, inflation will drop to 0.5%.

Users left generally positive comments on the offer. However, some of them expressed fears that in the new conditions the exchange may receive significant advantages, which will be able to do stacking at the expense of clients.