What is Petya the virus?

New ransomware attacked computers all over the world
27 June 2017   1108
Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.

Today, 27th of June, ransomware called Petya infected computers all over the globe. First countries under attack were Ukraine and Russia. It locks the computer and demands 300$ in Bitcoins to unlock it. 

petya logo
Petya's logo

Virus is known since 2016. It spreads thru spam, masks under the resume. Uninstructed user clicks on it, type-in the administarors' password, reboots the PC and gets blocked. 

In 2016, virus sent users to a deepweb site with instructions how to pay for unblocking. Now, only email is stated where user should write for further instructions. 

Today, virus infected, for example, computers of Russian banks, "Rosneft", and bunch of governmental institutes and big companies in Ukraine (Ukrainian Railways, Cabinet of Ministers, Boryspil Airport, UkrMail, Kiev Subway, Ukrenergo, banks and mobile operators).

Screenshot from injected PCScreenshot from infected PC

Specialists note that part of Petya, responsible for blocking, intercepts the management of the computer at the earliest stage of the download. It is written by highly qualified programmers.

The easiest way to secure your PC from ransomware is not open suspicious email. 

German Financial Regulator Clarifies Stance on ICOs

The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) has clarified its position on ICOs
22 February 2018   29

German financial regulator admitted it was receiving many inquiries about the status of tokens and cryptocurrencies. According to an advisory letter, BaFin provides some basic definitions of ICOs and related terms. It is important because the results of a new survey showed that more than two-thirds of Germans know about bitcoin.

In this letter, BaFin educates the public and explains how tokens are typically generated, how blockchain works and that ICOs are used to raise funds for startup projects. The note states that for regulatory purposes, ICOs, tokens, coins, and cryptocurrencies are subject to the existing provisions in the field of securities supervision and other relevant national and EU laws.

The authority advises participants in ICOs to check and follow rules applicable to regulated financial instruments, such as securities. If businesses or individuals have any doubts about regulations, they should approach BaFin.

According to BaFin, companies should fulfill any obligations under the Banking Act and the Capital Investment Code, the Insurance Supervision Act and the Payment Services Supervision Act. The transactions may be prohibited if relevant regulatory requirements are not met.

The authority also states that legal classification of tokens requires precise examination. It will determine their status on a case-by-case basis after studying their features. The token should be transferable and tradable on cryptocurrency trading platforms in order to be classified as a security.