Oman Creates Blockchain Club

A Blockchain Club has been established in Oman to explore financial technologies and potential of blockchain technology
27 November 2017   455

The announcement stems from the recently held Blockchain Symposium, organised by a number of government institutions among which were the Central Bank of Oman (CBO), the Capital Markets Authority (CMA), the State General Reserve Fund (SGRF) and many others.

The founding meeting was held at the Cultural Club, which was attended by the founding members and other interested parties. The meeting aimed at development the club’s organizational framework and exploring the ways in which the new body can become an educational center and platform for sharing the latest developments in this realm.

We have started the process of establishing the first blockchain company, and while Oman Blockchain Solutions and Applications is a company that will not undertake projects itself, it will be a vehicle where every person who would like to test an application can come on board and probably find the right financing, and the right access to regulators and decision-makers in Oman.

 

Abdulsalam bin Mohammed al Murshidi

Executive-president of the SGRF

The club will work under the Cultural Club and is expected to initiate its activities in the near future.

Tesla's cloud account hacked to mine cryptocurrency

Independent security group discovered Tesla's cloud account being hacked and infected with a miner-virus
21 February 2018   23

Cryptocurrencies are on the rise and all sorts of shady characters are trying to get in with dubious methods. Recent string of hacking attacks is a perfect example. And now not only exchanges and users with their hard-earned coins are in danger, but also companies with large cloud infrastructure face the same threat.

RedLock, a security research firm, reports that electric car manufacturer Tesla's cloud account information has been leaked to the internet, which allowed hackers to access the company's cloud. It has been hacked and hardware infected with a miner virus called Stratum. The mining protocol masks itself with low CPU usage and obscuring the IP of the mining server.

Of course, RedLock immediately contacted Tesla with this information and the company quickly got to fixing the breach. Tesla's spokesperson assured us that customer personal information hasn't been compromised, and that the vulnerability was patched in a matter of hours. Only small test park of internally-used engineering sample cars has been impacted and no indication whatsoever discovered that actual customer cars have been compromised in any way.

It certanly looks possible, because according to the same RedLock Cloud Security Intelligence group mining profitability of Tesla's cloud is worth a lot more that all the customer data available could be sold for on the black market. This also isn't the first instance of such a hack with no data being stolen. In fact, hacks with intention of hijacking mining capacity has already targeted Gemalto, a world's largest SIM-card manufacturer, and Aviva, a British insurance company, just to name a few.