Mining Malware to Become More Popular Than Ransomware

Mining Malware to Become More Popular Than Ransomware
19 July 2018   913

Information security company Skybox Security released a report according to which the share of hidden mining malware exceeded the share of previously popular ransomware.

It is reported that at the moment 32% of all cyber attacks are made by hidden miners, while ransomware occupy only 8% of the "computer attacks" market.

Researchers also pay attention to the extent to which the trends in the criminal cyber community have changed: in the second half of 2017 the ransomware made up a third of all attacks, and viruses-miners - only 7%.

Ransomware received a lot of attention in years past, especially thanks to the likes of WannaCry, NotPetya and BadRabbit. To some extent, organizations took note and put effective precautions in place, ensuring they had reliable back-ups and even thwarting attackers with decryption programs. So cybercriminals found — in cryptomining— a path of lesser resistance. The recent uptick in value of cryptocurrencies also made this an incredibly profitable attack option.

Marina Kidron

Director of Threat Intelligence, Skybox

Experts of Skybox Security note another reason for the decline in the popularity of ransomware. In their opinion, this is due to the fact that even after paying the requested amount to the ransomware, the data was often still encrypted. Also antivirus programs also help to fight against ransomware.

Huobi to Issue Loans for Miners

This is the part of services that will be available for russian clients of the crypto exchange
19 November 2018   57

Huobi, which opened an office with 30 employees in Moscow on November 12, expects to give Russian users access not only to trading functionality, but also something more. This reported by CoinDesk.

As previously reported, a new call center with Russian-language support opens on the basis of the Russian division, which in itself distinguishes Huobi against the background of such exchanges as Binance, OKEx and Bitfinex, which are currently not ready to provide support to users in Russian.

In addition, through the Russian division of Huobi will implement over-the-counter trading (OTC) and listings, as well as provide personal managers for large customers, its head Andrei Grachev said. .

Initially, Huobi’s plans were even more ambitious - the exchange wanted to give users the opportunity to make deposits in Russian rubles, but local experts did not advise it to do so.

They consulted with us a lot, and in the end, I think, we made them feel disappointed. They were interested in providing fiat operations, but we told them it’s impossible.

Vladimir Demin

Head of the Center of Digital Transformations, Russian government-owned development bank Vnesheconombank

Nevertheless, Russian users will be able to buy cryptocurrency for rubles through an over-the-counter service, and then transfer it to their trading accounts, Grachev said. The over-the-counter platform is already functioning, but for the time being it is used by very few users from Russia, so Huobi expects to attract new customers to its proposal with a favorable commission rate.

In addition, Huobi intends to issue loans to miners for the purchase of specialized ASIC equipment and lease premises for their placement. According to Grachev, the service can earn in the first quarter of next year.