Symantec`s Report: Crypto`s raised Use in Cyber Crime

Internet security company Symantec has posted their 23rd report about the internet safety
27 March 2018   1973

The document illustrates the growth in the incidents of cyber crime that however involve cryptocurrency. The most often cases to meet are ransomware attacks and cryptojacking.

Cryptojacking is the exploring of the data system without the owner of the machine knowing. Therefore this kind of crime became extremely profitable. According to the message, cyber criminals started making money using coinminers because there was a large growth in the value of cryptocurrencies in the last quarter of 2017. Symantec pointed out there had been an 8,500% increase in the number of examples detected on computers.

Coinminers are being used by cyber criminals in order to steal victims`computer processing power and cloud CPU usage to mine cryptocurrencies. Victims may not even understand that a coinminer is slurping their computer’s power as the only impact could be a slowdown of their device that they could easily attribute to something else. It frequently requires no more than a few lines of code running on a device. Coinmiming on a device causes batteries to overheat and the appliance finally becomes unusable.

Ransomware got in the top in 2017 thanks to to the WannaCry ransomware (Ransom.WannaCry) and Petya/NotPetya (Ransom.Petya). Such type of threats imply hackers encrypting the contents of the computer system. The attacks appear to have been the work of targeted attack groups rather than common cyber criminals. Ransomware`s benefit in 2016 became a reason of overpricing of ransom demands, crowded market, but only one year later the criminals found the weak spot the victims are willing to pay.

The Internet Security Threat Report also emphasized it should come as no surprise that the criminals today are choosing cryptocurrency for their attacks because digital money is a new and evolving internet sphere. In 2018 there have already been some occasions of ransomware attacks against the governmental departments in Atlanta. Nowadays there are no guarantees that the number of such attacks will decrease during 2018.

Argo Blockchain to Report on x10 Revenue Increase

For the 2019, the company received Bitcoin mining revenue of £ 8.5 million, in 2018 it was £ 760,000
20 January 2020   80

Bitcoin mining company Argo Blockchain said this Monday that its revenue from its core business in 2019 increased 10 times. According to a press release on the website of the London Stock Exchange (LSE), where Argo shares are traded, for the first full year in business, the company received revenue of £ 8.5 million compared to £ 760,000 in 2018.

Argo listing on the main LSE market took place in August 2018. The data presented were not audited - the reports after the audit will be available in April.

The company clarifies that in the fourth quarter of 2019, it mined 432 bitcoins, which is six bitcoins higher than in the third quarter. However, in the last quarter, the company's revenue fell to £ 2.66 million, while in the third quarter it was £ 3.63 million.

Our mining operations continued to generate industry-best mining margin in the last quarter despite a softening in market conditions from the previous quarter. Our state-of-the-art mining platform is performing as expected and with the expansion of our mining network on pace, along with the recent rise with the price of Bitcoin, Argo is well-placed for a strong year ahead.

 

Peter Wall

Argo Blockchain CEO

 The company is increasing mining capacity in anticipation of halving and currently has 13,364 devices, including 6,375 Bitmain Antminer T17s, which were installed on January 1. By the end of the quarter, Argo intends to add another 3,625 of the same miners. It is estimated that with a full set of 17,000 devices, its computing capacity will exceed 650 petaheches.