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Blockchain Live • September 26, 2018

Blockchain Live 2018 is an event dedicated to the adoption of blockchain technology. Set amidst the stratospheric growth of blockchain…

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Tag: cybersecurity

These Flaws Make Cryptocurrency Exchanges Susceptible to Attacks

Category: Crime, News, wallet

These Flaws Make Cryptocurrency Exchanges Susceptible to Attacks

It is a proven fact that the blockchain has an impressive 99.64 percent reliability. However, the same can’t be said of cryptocurrency exchanges. Amidst that backdrop, Sameer Dixit, the Senior Director of Security Consulting at Spirent Communications, has identified some characteristic flaws of crypto exchanges which must be tackled to shield the over $350 billion cryptocurrency industry from more heists…

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Research: Cryptojacking Incidents on a Steady Decline

Category: Bitcoin, Crime, Mining, News

Research: Cryptojacking Incidents on a Steady Decline

While crypto enthusiasts pray for the bulls to reign at all times, sometimes a bearish trend comes with cool advantages. Per recent research findings, cryptojacking has become less lucrative for ‘cryptojackers’ due to the current market slump, leading to a sharp decline in occurrences of the illegal act. Meager Rewards According to a research report by Malwarebytes, a cybersecurity firm…

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Lack of Custodial Services Prevents Institutional Investors from Diversifying into Cryptocurrencies

Category: Altcoins, Bitcoin, Finance, News

Lack of Custodial Services Prevents Institutional Investors from Diversifying into Cryptocurrencies

A compelling lack of safekeeping services for cryptocurrencies is preventing institutional investors from diversifying their portfolios to include the volatile asset class. Currently, only Coinbase and Kingdom Trust provide custodial services. Lack of Trust On July 9, 2018, traditional finance publication, Pension and Investments, asserted that market movers and billionaire investors seek international custody houses and long-standing banks over cryptocurrency…

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Rakhni Virus Updated to Deploy Cryptocurrency Mining Software and Ransomware on Victims’ Computers

Category: Bitcoin, News

Rakhni Virus Updated to Deploy Cryptocurrency Mining Software and Ransomware on Victims’ Computers

Identified as a top cyber-threat in 2013, the nefarious Rakhni ransomware will not be left behind and is now infiltrating computers with fraudulent cryptojacking software. Updated Rakhni Targets Cryptocurrency On July 6, 2018, cybersecurity website Bleeping Computer reported unauthorized activities conducted by the Rakhni ransomware on PCs identified to be those of cryptocurrency users.  The revelation comes after Kaspersky Lab…

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Japanese Man Confined Behind Bars for Illegal Mining of Cryptocurrency

Category: Crime, News

Japanese Man Confined Behind Bars for Illegal Mining of Cryptocurrency

A 24-year-old man in Japan has been put behind bars for using unlawful means to mine cryptocurrencies. The delinquent had been sending malware to his targets to gain access to victims’ computer processing power. His conviction indicates that Japan is taking such crimes seriously, a trend that other countries are likely to follow. Wrongdoer Targeted Gamers The young man, whose…

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Research: 46 Percent of Unauthorized Cryptocurrency Mining Circumvents Antivirus Software

Category: Altcoins, Mining, News

Research: 46 Percent of Unauthorized Cryptocurrency Mining Circumvents Antivirus Software

Cryptojacking continues to be classified as a rising threat in the cybersecurity domain. After considering infiltrated browser systems, miners, macOS’, social groups, and even cellphones, reports suggest over 98.8 percent of unauthorized cryptocurrency mining takes place on Linux-based software. Cryptocurrency Mining an “Advanced, Major Concern” A report by industry observer WatchGuard Technologies on July 2, 2018, confirmed that cryptojacking is…

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Illicit Cryptocurrency Mining Affects Thousands of Most-Visited Websites

Category: Crime, Mining, News

Illicit Cryptocurrency Mining Affects Thousands of Most-Visited Websites

The rise of cryptocurrencies as an asset class has propelled the burgeoning of related businesses like wallet services, cryptocurrency exchanges, and the mining sector. However, the space is filled with beneficiaries and bad actors alike, as revealed by research from a U.S.-based company. U.S. “.com” Domains Most Affected On June 28, 2018, RiskIQ released an infographic which detailed and mapped…

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Bitfi and McAfee Announce ‘Unhackable’ Crypto Wallet

Category: Altcoins, Bitcoin, Ethereum, News, Tech

Bitfi and McAfee Announce ‘Unhackable’ Crypto Wallet

John McAfee, the man behind the infamous uninstallable anti-virus software, has formed a partnership with hardware wallet company Bitfi to launch what he calls the “First Truly Unhackable and Open Source Crypto Wallet.” McAfee Collaborates with Bitfi to Produce a 100 Percent Secure, User-friendly Wallet This is a bold claim in the tech industry, but as an expert on cyber…

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Hackers Target Infrastructure and Weak Security to Steal Cryptocurrencies

Category: Altcoins, Bitcoin, Crime, News, Tech

Hackers Target Infrastructure and Weak Security to Steal Cryptocurrencies

Carbon Black, a predictive cloud security service, recently published a report demonstrating that $1.1 billion worth of cryptocurrency-thefts occurred in the last six months. Security Experts Weigh in Unfortunately, most of these thefts came from an attack on a cryptocurrency exchange or business. TechWire mentioned that hackers often hide malware on websites or weak infrastructure especially on cryptocurrency exchanges with…

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Robbers Demand $1 Million in Ripple as Ransom After Stealing Banks’ Customer Data

Category: Altcoins, Crime, News, Tech

Robbers Demand $1 Million in Ripple as Ransom After Stealing Banks’ Customer Data

Two Canadian banks were in for a fix on May 28, 2018, after hackers gained access to account holders’ personal information, and threatened to sell it to interested parties unless a ransom was paid in XRP, Ripple’s native token. Hackers Infiltrate Bank Systems with Ease According to a report, Simplii Financial and Bank of Montreal (BMO) learned that personal information…

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