Cybercriminals on Cryptocurrency Mining, Craze Going for Data Centers

Cybercriminals have always been financially motivated and cryptocurrency mining is the latest trend in generating revenue by abusing the same age-old malware attack vectors previously associated with ransomware dissemination. The recent Bitcoin craze, with the currency peaking at $19,000 per unit, has focused cybercriminals on crypto mining, instead of traditional ransomware. In fact, crypto currency-enabled malware is increasingly outdoing ransomware in popularity, with the rise in adoption picking up significantly in the past six months.

Cybercriminals on Cryptocurrency Mining, Craze Going for Data Centers

Bitdefender’s telemetry has been studying this phenomenon and today releases an in depth report into the ways cybercriminals are targeting cryptomining. Cryptojacking Whitepaper which will teach more about the emergence of cryptocurrency as a security concern.

  • The true magnitude of the problem – One of the most interesting attacks involved the use of industrial control systems. The industrial control systems, supervisory control and data acquisition servers of a water utility in Europe were used for the first time to mine Monero. A scary thought
  • Impact in the data centre – The more cryptocurrency has been mined, the more resource-intensive the process becomes. This makes it unfeasible for cybercriminals to target and control pools of individual users. It is expected that large data centers and cloud infrastructures are next in line
  • Country-by-country breakout of cryptomining and how it compares to the trend in ransomware reporting

One reason for the growth of crypto mining is from the emergence of browser-based web scripts that make it easy for cybercriminals to compromise high-traffic websites and plant cryptocurrency mining script. This is often done instead of deploying traditional spear phishing campaigns to infect a large number of victims, as ransomware does.

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Learn How to Survive the Cyber Risks of Cryptocurrencies (Bitcoin and Altcoins)

Cryptocurrencies like bitcoin are today’s hottest investment opportunities. They have made millions of dollars for savvy investors. Yet cryptocurrencies have become the target of widespread theft and scams. They are also central to digital extortion, money laundering and other crimes that can impact you—even if you don’t invest in cryptocurrency.

Learn How to Survive the Cyber Risks of Cryptocurrencies (Bitcoin and Altcoins)

First, cryptocurrencies became the payment method of choice for ransomware attacks like Locky and WannaCry. Then German regulators shut down OneCoin for alleged fraud and scammers in South Korea stole millions of bitcoins from exchange customers.
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Common Definitive Financial Technology (FinTech) Jargon, Glossary and Terminology

Artificial Intelligence (AI): The broader concept of machines being able to carry out tasks in a way that we would consider “smart”.

Analytics: The tool used to measure patterns or trends in data.

APIs: Application Programming Interface. Software that allows two different sources to communicate with each other instantly. Messenger that takes your message and tells a system what it is you want to do and returns the response to you instantly.

AWS: Amazon Web Services. A division of Amazon that provides cloud-based infrastructure for businesses.

Benchmark: A point at which activity and performance are measured and compared.

FinTech Glossary, Jargon and Term
FinTech Glossary, Jargon and Term

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Comparison of Distributed Ledger Technologies (DLT): Blockchain, Hashgraph, DAG and Holochain

Comparison of 4 Distributed Ledger Technologies (DLT): Blockchain, Hashgraphy, DAG and Holochain from the perspective of mining, transactions per second, data structure, validation of transactions, time of launch and network running on platform.

Comparison of 4 Distributed Ledger Technologies (DLT): Blockchain, Hashgraphy, DAG and Holochain
Comparison of 4 Distributed Ledger Technologies (DLT): Blockchain, Hashgraphy, DAG and Holochain

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All You Need to Know About Security Token and How It Change the Nature of Market

What is a Security Token?

Security Token is a token that is subjected to regulations and securities. In simple terms, these tokens on blockchain will get their value from external and tradable sources. That’s why this will always have federal regulations making ir a safer choice.
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Example of Real World Blockchain Use Cases

Blockchain Use Cases
Blockchain Use Cases

Banking, Financial Services and Fintech

  • Ripple is an enterprise level blockchain solution that empowers both users and banks. The blockchain ledger that Ripple uses has been latched onto by a group of Japanese banks, who will be using it for quick mobile payments.
  • Barclays bank will improve the whole banking experience for customers and other entities.
  • Abra is a mobile cryptocurrency app that lets users store, invest and buy cryptocurrency.
  • Both IBM and AIG has completed a pilot program where they can build a multi-national policy using smart contract.
  • A smart contract based blockchain is being used by Insurer American International Group Inc. (AIG) as a means of saving costs and increasing transparency.
  • Digital Currency Group are helping Amazon Web Services examine ways in which the distributed ledger technology can help improve database security.
  • Streamline payments processing with high efficiency, fast and secure transactions.
  • Empower global transactions, tearing down national currency borders.
  • Minimize auditing complexity for any financial ledger.
  • Credit History: Make credit reports more accurate, transparent, and accessible.
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4 Steps for Successful Blockchain Business Strategy Implementation

Step 1: Identify Underlying Issues and Set Goals

  • Take a closer look at a business and identify an issue that can leverage blockchain capabilities.
  • Identify all use cases your blockchain can leverage
  • Come up with new use cases that might make the technology more useful.
  • Finalize the list and set up the goals that blockchain technology must achieve upon implementation.

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Cisco Blockchain Framework – Build trust-based business networks for digital transformation

The Cisco blockchain framework details the necessary elements for a simple, secure, scalable enterprise-grade blockchain that is based on Cisco’s proprietary technology. Cisco blockchain framework is composed of the following reference groups: Platform, Interfaces, Infrastructure and network and Security and analytics.

Cisco Blockchain Framework
Cisco Blockchain Framework

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How Internet of Things (IoT), artificial intelligence (AI) and blockchain Revolutionize Business

The Internet of Things (IoT), artificial intelligence (AI), and blockchain represent an unprecedented opportunity for the enterprise and the public sector. Every institution capable of exploiting these technologies will have a chance to radically streamline and enhance existing processes, create entirely new business models, and develop innovative products and services for a new generation of consumers. But this isn’t a vision of a utopian, tech-enabled future—the technology capabilities are available today to help you build the business of tomorrow.
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How to Encrypt Bitcoin Core Wallet and Bitcoin Client using Passphrase

Bitcoin Core Wallet information is stored in a file called wallet.dat that holds the digital ownership of your BTC. wallet.dat is not encrypted by default, as soon as someone gains access to your computer, they will be able to spend your coins instantly.
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