South Korea Has No Intention to Ban Cryptocurrency Exchanges

South Korea’s finance minister has confirmed that the government has no plans to shut down cryptocurrency trading or exchange platforms
31 January 2018   997

South Korea has become one of the main markets for cryptocurrency, yielding, probably, only Japan and China. Therefore, it is not surprising that the government was forced to deal with the regulation of a new industry that gained popularity in just a few months, after the outflow of traders and start-ups from China.

Today, after a few weeks of panic and confusion among Korean traders and investors, who fear a complete state ban on cryptocurrency trading (similar to China’s tough action in blocking virtual coin platforms), South Korea's finance minister said that the government is not going to set barriers to the cryptocurrency market.

 As it is indicated in the report by Reuters, South Korea’s finance minister Kim Dong-yeon said: «There is no intention to ban or suppress cryptocurrency market».

He also commented on contradictory statements by government officials from several ministries who partly supported and partly rejected the ban on the cryptocurrency exchanges, which was proposed by the Korea’s Justice Ministry.

On the same day with proposing to shut down all domestic cryptocurrency exchanges, Korea’s justice ministry was forced to soften its stance on the ban proposal after the backlash and called it  “not a finalized decision”. The Justice Ministry found little support from other governmental ministries including the Ministry of Finance which refused to support a trading ban on cryptocurrency market.

Chinese Miners to Fall Victims of Ransomware

Looks like ransomware came together with "improved" firmware, that should "overclock" device
21 January 2019   101

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.