Qulian to Raise $234M During Series B Funding Round

Qulian sets out to develop enterprise-grade solutions based on its hyperchain blockchain platform
05 June 2018   659

Chinese company Qulian Technology, which created the blockchain platform Hyperchain, announced the completion of the series B financing round, in which the company managed to attract 1.5 billion yen (234 million dollars). This is reported by Coindesk.

According to a statement that Qulian published on Sunday, Xinhu Zhongbao, a real estate and finance company, became the lead investor of the round. It announced it plans a week ago, on May 27, when it applied to the Shanghai Stock Exchange.

The document says that Xinhu Zhongbao intends to invest 1.23 billion yen ($ 192 million) in Qulian, which will be divided into 2 parts: $ 17 million will be directed to the authorized capital of the company, and $ 175 million to new shares. Thus, as a result of the transaction, the investor must receive a 49% stake in Qulian.

This is a business judgement made by the company and other co-investors based on a comprehensive evaluation of Qulian. There is a risk of a mismatch in (Qulian's) income and valuation.

Xinhu Zhongbao Team

Qulian was founded in 2016 and is developing corporate solutions based on its Hyperchain blockchain platform. According to the application of Xinhu Zhongbao, in 2017 Qulian's income was 281 thousand dollars, and net losses - 2.34 million dollars. The company itself is estimated at 234 million dollars.

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.