NEWS
Cryptocurrencies And The Hackers Who Lurk in the Background

2017-12-19 01:08:23
by Dominic Brown
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Cryptocurrencies And The Hackers Who Lurk in the Background

In Your Cryptocurrency Portfolio At Risk?

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Where there is a legitimate money-making enterprise, there is nearly always an illegitimate enterprise seeking to undermine it by sidestepping, circumventing or otherwise manipulating its
regulations, in order to make illicit gains.

Data mining is no exception, and this week’s hack into mainstream Russian computer systems, announced on Friday, represents a new wave of malware attacks aimed at illegal mining of crypto currencies. Transneft, the giant Russian pipeline corporation, reported that malware had been downloaded into their computer systems with the capacity to data mine Monero, one of Bitcoin\'s cryptocurrency rivals. Not only does such malware have a negative impact on processing capacity, but it also requires victims of such hacking to invest in counter-measures to protect themselves in the
future.

The main culprit for these attacks, also recently perpetrated against video streaming service Showtime, appears to be the Java-script based Monero-miner, CoinHive. While it might have been designed originally as a helpful program to solve the ad-blocker-versus-income problem, manipulation of the software seems to have converted it into an effective malware program, capable of hacking into the computers of unwary site visitors to mine cryptocurrency. 

Monero claims to be \"secure, private, and untraceable.\" Red rag to a bull, right?

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