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   861

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.

Bitmain to File IPO Application

The application was sent to Hong Kong Stock Exchange (HKEX)
27 September 2018   429

The largest mining company Bitmain has submitted to the Hong Kong Stock Exchange (HKEX) listing application for an initial public offering (IPO), according to CoinDesk.

The application is a draft option, and some of its details, in particular the number of shares offered for sale and the immediate date of the IPO, are still in the process of editing.

Nevertheless, the document indicates that last year Bitmain's revenue was $ 2,517,719,000. This figure is higher than in 2016 ($ 277,612,000). As of June 30, 2018, the company's revenue was $ 2,845,467,000.

The application said that in 2017 the gross profit of the company was $ 1 212.7 million, which is also higher than in 2016 ($ 151,351,000).

Earlier, the head of Bitmain, Jihan Wu, expressed his indignation over the actions of the company's chief financial officer, who disclosed the figures for the first quarter 60 days after his end, and not after 90, as he had expected.

The media suggested that in the run-up to the IPO the publication of such information could have a negative effect on the company's investment attractiveness.

In addition, the document confirmed the media's information that Bitmain owns a 3% stake in Opera's Internet browser thanks to an investment of $ 50 million.

The application also indicates that the underwriters of the IPO are China International Capital Corporation Hong Kong Securities Limited, Commerce and Finance Law Offices, Maples and Calder LLP, KPMG and Frost & Sulliva