Michigan Bill May Make It Illegal to Fake Blockchain Data

This is the first attempt by the state of Michigan authorities to introduce regulations on the cryptoindustry
14 June 2018   532

The state of Michigan is considering two draft laws that classify changes in the data in the blockchain as a crime. This is reported by CoinDesk.

As reported, first of two bills presented earlier this month by state representative Curt WanderWall tweaks the state's penal code pertaining to those who "makes, alters, forges or counterfeits a public record." Under the proposed legislation, this would be extended to "a person that accomplishes a violation...by altering a record made utilizing distributed ledger technology."

The second document includes changes to the current criminal code of Michigan. In particular, lawmakers suggest defining the terms "cryptocurrency" and "distributed ledger technology".

Both bills have already been submitted to the US Justice and Justice Committee.

Note, this is the first attempt by the state of Michigan authorities to introduce regulations on the cryptoindustry. In 2015, the management of the Michigan Department of the Treasury issued a paper, which explained that the purchase of a cryptocurrency is not taxed.

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.