Mining Malware to Become More Popular Than Ransomware

Mining Malware to Become More Popular Than Ransomware
19 July 2018   635

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.

Vietnam to Ban Cryptocurrency Miners Import

Vietnamese companies and citizens stopped importing mining equipment in early July in accordance with the order of the customs service of Ho Chi Minh City
13 August 2018   103

After several months of thinking, the Vietnamese authorities approved a ban on import of crypto-currency mining equipment, CCN reports.

Vietnamese companies and citizens stopped importing mining equipment in early July in accordance with the order of the customs service of Ho Chi Minh City. Representatives of the ministry said on Monday that in the first half of 2018, 3 664 devices for mining were imported to the country. 3 000 of wentfell on four enterprises, while the remaining devices were imported by individuals and companies that did not provide their tax code. Most of the devices turned are Antminer miners.

The Ministry of Finance of Vietnam for the first time proposed to ban the import of equipment for mining in June, after the authorities decided to tighten control over the cryptocurrency sector against the backdrop of the spread of fraudulent schemes. 

The Ministry of Finance demanded that state structures strengthen control over the import and use of equipment for the mining of cryptocurrencies. In July, the central bank of Vietnam agreed to support the proposal of the Ministry of Finance.

The Ho Chi Minh City Customs Authority reports that in 2017 9,300 ASIC devices were imported into the country. Cryptocurrency is not allowed for use in Vietnam. The central bank of the country refused to include it in the list of non-monetary payment means, which include checks, payment orders and bank cards. Violators of the law, including among ordinary users, face a fine of up to $ 9,000.