Hackers used Italian bank servers to mine Bitcoin

Cyber security company Darktrace investigated this situation 
12 July 2017   1656

Distributed database that is used to maintain a continuously growing list of records, called blocks.

Servers of one of the Italian banks in 2015 were used by hackers to mine crypto currency, Quartz reports.

According to the director of the UK-based Darktrace, specializing in cyber security, in January 2015, his specialists investigated the intervention in the system of financial organizations and identified data flows that were sent from the bank's servers to the botnet.

It was a fairly well known European criminal botnet. The data was not customer data; it turned out to be a fairly buggy implementation of bitcoin mining software. I don’t think they made very much money out of it.

Dave Palmer,
Director of technology, Darktrace

The captured server was shut down less than an hour after the start of the crypto currency production.

Dave Palmer also added that the period of the heyday of criminal production of crypto currency fell on 2014-2015. For comparison, in the last six months of 2017, Darktrace identified only 24 similar cases. 

Also, some time ago, hackers hijacked the Ethereum Classic Wallet and was able to steal around $300 000. 

BlackRock to Consider Bitcoin Futures

World largest asset management firm created a workgroup to study the prospects of crypto-based futures
16 July 2018   69

Investment company BlackRock has formed a working group that should find out what benefits the world's largest asset manager can get from entering the cryptocurrency sector, despite the fact that previously its CEO had heavily criticized bitcoin. This is reported by Financial News.

The investment giant, whose assets amount to $ 6.3 trillion, created a team that included experts from various business areas. They must collect information about the cryptocurrencies, the underlying infrastructure and technology of the blockchain.

The working group, which includes investment strategist Terry Simpson, should find out whether BlackRock should invest in bitcoin futures.

Sources also reported that BlackRock is studying the experience of its competitors in this area and the potential impact of their actions on the company's business. The working group will report on the results of its research to senior management.

A spokeswoman for BlackRock reported that the company has been considering blockchain technology for several years, but declined to comment on the cryptocurrency.

The creation of a working group may mark a turning point in relations between BlackRock and cryptocurrencies. Last year, its head, Larry Fink, said that bitcoin is an extremely speculative tool, and the only reason for its popularity is its anonymity. "This is an instrument that is used for money laundering," he said bluntly.

Fink gave his comments even before the appearance of crypto-currency futures. At that time, he saw no opportunity for his company to enter this market.