Korea's Jeju Island May Become ICO Hub

Governore belives that blockhain can help South Korea
14 August 2018   775

The governor of the South Korean province of Jeju Won Hee-ryong plans to make his island the center of the blockсрфшт industry. Despite the tough position of the state in relation to crypto-currencies, Jeju Island can be allocated to a special zone for ICO and cryptocurrency. This is reported by Korea JoongAng Daily.

Governor Won announced the proposal at a meeting with the South Korean government. The event, among others, was visited by the country's finance minister Kim Don Yong.

Blockchain can cut costs, provide stable transactions and essentially has the potential to become a game changer that could alter the ecosystem of the internet platform industry. For Korea to become a leader rather than a consumer of this new global industry, we need to quickly allow [the operation of] blockchain and cryptocurrency [firms].
 

Won Hee-ryong

Governor, Jeju

According to the plan of the governor Won, the blockchain start-ups in Jeju can easily conduct the initial offers of coins (ICO) and collect the necessary funds.

Also, the authorities of the Jeju province propose to create a special structure together with representatives of the state and experts in the crypto-currency area, which will deal with issues of state support for the block industry. There's no news on the mining regulation in Jeju.

Last fall, the South Korean authorities have banned the conduct of ICO, as well as all types of lending in digital currencies, including margin trading.

Chinese Miners to Fall Victims of Ransomware

Looks like ransomware came together with "improved" firmware, that should "overclock" device
21 January 2019   79

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.