An outdated version of Drupal, a popular content management system, let hackers mine the cryptocurrency Monero on over 300 websites including the websites for the “San Diego Zoo and the government of Chihuahua, Mexico.” A report by Troy Mursch outlined how the hack worked and even showed how much processing power browsers began taking up […]
View More Outdated website software lets hackers mine cryptocurrencies at your expenseCategory: Mining
Meet the quantum blockchain that works like a time machine
A new – and theoretical – system for blockchain -based data storage could ensure that hackers will not be able to crack cryptocurrencies once we all enter the quantum era. The idea, proposed by researchers at the Victoria University of Wellington in New Zealand, would secure our crypto futures for decades to coming using a […]
View More Meet the quantum blockchain that works like a time machineEthereum falls after rumors of a powerful mining chip surface
Rumors of a new ASIC mining rig from Bitmain have driven Ethereum prices well below their one-week high of $585. An ASIC – or Application-specific integrated circuit – in the cryptocurrency world is a chip that designers create for the specific purpose of mining a single currency. Early Bitcoin ASICs, for example, drove adoption up […]
View More Ethereum falls after rumors of a powerful mining chip surfaceCryptojacking is becoming a real menace
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Cryptojacking — the malicious practice of hijacking one’s computer resources to mine cryptocurrencies — has taken off in a big way near the end of last year.
According to a report by Symantec, published on Wednesday, cryptojacking has surged by 8,500% last year, especially since September — which is roughly the time when the price of Bitcoin and Ethereum really hit the stratosphere.
Besides being lucrative, cryptojacking is generally simpler to do than installing malware on someone’s computer, and it often goes unnoticed by the victim. Read more…
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View More Cryptojacking is becoming a real menacePlattsburgh, New York is the first city in the U.S. to ban cryptocurrency mining
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Anyone who thought about starting a cryptocurrency mining operation in the city with the cheapest electricity in the U.S. is out of luck, at least for the next year and a half.
The city council of Plattsburgh, New York unanimously voted in favor of a 18-month moratorium on crypto-mining Thursday, Motherboard reported.
The new law, originally proposed on March 2, affects only new, commercial mining operations; current companies that are mining in Plattsburgh will be allowed to continue to do so.
Plattsburgh — a small city with a population of under 20,000 as of the 2010 census — has very cheap electricity due to its involvement in building the power-generating dams on the St. Lawrence river back in the 1950s. And for a cryptocurrency mining operation — an energy-intensive process used to create new crypto-coins and power large cryptocurrency networks — cheap electricity is a huge draw. Read more…
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View More Plattsburgh, New York is the first city in the U.S. to ban cryptocurrency miningQarnot unveils a cryptocurrency heater for your home
French startup Qarnot unveiled a new computing heater specifically made for cryptocurrency mining. You’ve read that right, the QC1 is a heater for your home that features a passive computer inside. And this computer is optimized for mining. While most people use laptops, back in the golden days of computer towers, you could heat a room with a couple of desktop computers. And heat is… Read More
Bitcoin enthusiasts take innovative approach, steal 600 computers
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Mining for cryptocurrency can be an expensive proposition — albeit less so if you just go ahead and steal 600 powerful computers to do it for you.
That is exactly what 11 people are accused of doing in Iceland, after a large number of specialized computers were boosted in December and January from data centers in the island nation. So reports NBC News, which notes that while authorities have identified and arrested the individuals they believe to be responsible for the heist, the computers themselves are still unaccounted for.
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View More Bitcoin enthusiasts take innovative approach, steal 600 computersSamsung is making chips for cryptocurrency mining
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Samsung’s chip-making division is diving into the lucrative space of cryptocurrency mining.
Korean news outlet The Bell broke the news Tuesday, and Samsung confirmed to TechCrunch Wednesday that it’s indeed making crypto-mining chips.
“Samsung’s foundry business is currently engaged in the manufacturing of cryptocurrency mining chips,” the company told TC without disclosing any further details. Read more…
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View More Samsung is making chips for cryptocurrency miningSamsung confirms it is making ASIC chips for cryptocurrency mining
Fresh from toppling Intel as the planet’s biggest seller of chipsets, Samsung has confirmed that it has begun manufacturing ASIC chips which are used to mine bitcoin, ether and other cryptocurrencies.
“Samsung’s foundry business is currently engaged in the manufacturing of cryptocurrency mining chips. However we are unable to disclose further details regarding our… Read More
How cryptocurrency miners can hack your computer on public Wi-Fi for big gains
As the hubbub around cryptocurrencies continues to grow, so, too do the ways that more nefarious folks can exploit clueless individuals. And one coder has shown how you could be at risk when browsing on a public Wi-Fi server.
SEE ALSO: What happens w…
China is reportedly moving to clamp down on bitcoin miners
China banned bitcoin, ICOs and now it appears to be clamping down on Chinese miners, an important group estimated to produce some three-quarters of the world’s supply of bitcoin. According to a leaked January 2 memo from the ‘Leading Group of Internet Financial Risks Remediation’ — the country’s internet finance regulator which initiated the clampdown on… Read More
Tobacco company makes a hard pivot to cryptocurrency mining
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Rich Cigars just made the ultimate pivot: from high-end cigars and tobacco products to cryptocurrency.
The Miami-based company announced Thursday it had become Intercontinental Technology, Inc., and was phasing out the cigar part of the business — aka its entire premise.
Instead the company is jumping into two very not tobacco-related industries: patents and “aggressive cryptocurrency mining.” And it initially seems to be paying off.
SEE ALSO: Bitcoin is a victim of its own success
With Bitcoin, Ethereum, LiteCoin and other cryptocurrencies rallying like crazy in the past few days this seems like a smart move. Who needs a fancy cigar when there’s Bitcoin to be mined at nearly $17,000 per coin? Read more…
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View More Tobacco company makes a hard pivot to cryptocurrency mining