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   1323

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.

SBI Holdings to Start Mining Chips Manufacturing

The new enterprise will work in partnership with an unnamed major semiconductor manufacturer from the United States
22 March 2019   94

The Japanese financial conglomerate SBI Holdings announced the creation of a new enterprise that will focus on the production of chips and cryptocurrency mining systems.

The message on the company's website says that SBI Mining Chip Co. (SBIMC) is part of SBI Holdings digital asset strategy.

The new enterprise will work in partnership with an unnamed major semiconductor manufacturer from the United States, and a former head of Chip Estimate and WearSens Adam Trademan, will head it. Currently, Trademan heads the BRD mobile cryptocurrency wallet development company, in which SBI Holdings invested $ 15 million in January of this year.

Recall that its plans to launch a broad offensive against the cryptocurrency industry were announced by SBI Holdings in October 2017. Since then, the corporation has made numerous investments in various projects, and also intends to promote the mass adoption and practical use of the RR Xle XRP token.