Hit BTC now charges commission for bitcoin deposits

Hit BTC introduces deposit charges to combat high bitcoin network fees
26 December 2017   1041

Hit BTC exchange announced that now users have to pay a fixed fee for bitcoin deposits to platform. This new fee will be deducted from the total incoming amount and will be 0.0003 BTC. So, if your deposit is equal or lower, than there is no point to try, because company warns, that all the amount will be accounted as a commission and there will be no refunds in such cases.

Such unfortunate circumstances arose from the all-time high network fees, so concerns about other exchanges implementing something along those lines are more than justified. For example, Bitpay already tried closing transactions of $100 or less, judging them to be uneconomical and impractical. Of course, the community pressured them to restore functionality, but who knows, for how long it would hold?

All this drama takes root in one problem – increased popularity of Bitcoin caused increased demand for processing. And the mempool continues to be boggled down with over hundred thousand unconfirmed transactions at any given time. So, no wonder that transaction fees had hit a new high recently with $37 payment to have transaction mined in three blocks on 12/21/17, and today, on 12/26/17 it just slightly dropped down to $28 to rush the queue.

Chinese Miners to Fall Victims of Ransomware

Looks like ransomware came together with "improved" firmware, that should "overclock" device
21 January 2019   101

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.