Colleagues, the recent Common
Vulnerabilities and Exposures Report (CVE-2018-17144
Full Disclosure) states, “a fix
for which was released on September 18th in Bitcoin Core versions 0.16.3 and
0.17.0rc4, includes both a Denial of Service component and a critical inflation
vulnerability”. A cybercriminal
exploited this bug to create new Bitcoin, which in turn would have deflated
Bitcoin value by increasing the supply of the currency above the 21 million
hard-cap. Matt Corallo, Bitcoin Core developer and Chaincode engineer acknowledged that if this bug has
gone undetected someone could have launched a cyber-attack to print an
unlimited number of BTCs. According to CoinMarketCap, global Bitcoin market capitalization exceeds
$115.6B USD far outpacing Ethereum, which is valued at $24.6 USD. Bottom line: The
world’s most valuable (and popular) cryptocurrency is prone to vulnerabilities
and is subject to cyber crime. This is just one reason why regulators such as
the US SEC question is
legitimacy as a financial “security”. Post a comment today! Lawrence – Cryptocurrency
Academy (https://cryptocurrencyacademy.blogspot.com/)
Our mission is to provide Training and Certification programs to enable Cryptocurrency, Blockchain and FinTech traders and investors worldwide to achieve their career goals.
Monday, September 24, 2018
Saturday, September 22, 2018
Bitfury and Bitmain Launch New Mining ASICs – Can They Bring New Life to Crypto Mining?
Colleagues, crypto mining has
been under siege from relentless cybercrime attacks, which have risen
dramatically in 2018. Nevertheless, while mining vendors AMD and NVidia have
struggled, Bitmain and Bitfury have introduce new 7nm and 14 nm ASICs this week. Bitfury
serves as a hardware and software vendor of crypto mining and Blockchain
technology. Bitmain is the world’s largest crypto mining company that also
develops and sells its own mining ASICs. These announcement come during the World Digital
Mining Summit takes place in Tbilisi,
Georgia. Bottom line: Can new ASICs breathe new life into the beleaguered
mining segment of the worldwide crypto ecosystem … especially given the
onslaught of cyber-attacks across the globe? We would offer two conclusions:
First, the mining sector in aggregate will continue to grow … although the rate
of growth in 2016-2018 will be difficult to sustain. Second, there will
significant consolidation in cypto mining ASIC segment during the next two
years with Bitmain and Bitfury extending their leadership roles. Post a comment today! Lawrence – Cryptocurrency
Academy (https://cryptocurrencyacademy.blogspot.com/)
Friday, September 21, 2018
The Spector of $2b in 2018 Cyber Crime Targeting Cryptocurrencies Threatens Market Adoption
Colleagues, according to CoinMarketCap the worldwide market capitalization for digital assets
reached some $760b in December 2017 and currently hoover around $240b. Coindesk
reports that the Japanese market lost $540m due to crypto crime in H1 2018. Globally,
cyber security firm Carbon Black
has confirmed $1.1b worth of cryptocurrencies were stolen in the same time
period. The numbers are alarming, they continue to grow and represent the
single largest threat to the market adoption of cryptocurrencies across the
global economy. Conventional malware, fraudulent ICOs, attacks on crypto
exchanges and crypto jacking which targets mining vendors and pools tops the
list of cybercrime tactics. We offer two basic conclusions: First, it is highly
likely that crypto theft will top $2b around the world in 2018. Second, the
rise in cybercrime
focused on digital assets heightens the concern of government regulators in the
US and abroad that cryptocurrencies should not be categorized as legitimate
“securities”. These factors are major barriers to adoption across the crypto
ecosystem. We do believe that digital assets
will take 2-3 years to cross the chasm from truly speculative investments to
viable securities traded on market stock exchanges … foremost the US NASDAQ. Post a comment today! Lawrence – Cryptocurrency
Academy (https://cryptocurrencyacademy.blogspot.com/)
Thursday, September 20, 2018
Issuing fraudulent investments is the latest cyber security risk to the cryptocurrency ecosystem
Colleagues, the US Texas Securities
Commission has issued cease and desist orders against three offshore entities
suspected of issuing fraudulent cryptocurrency investment schemes. The orders
target Ultimate Assets LLC, DigitalBank Ltd. and Coins Miner Investment Ltd. All three entities purport to represent Coinbase, a prominent U.S. crypto exchange.
The charges stem from crypto and forex trading services, false claims of meeting
with the president of Ripple and soliciting funds
to develop a claimed secure crypto wallet. Bottom line: The global crypto
ecosystem is under siege from cyber criminals on all fronts. The three firms
identified above a just the latest in a long list of bad actors targeting
crypto investors, wallets, exchanges and underlying Blockchain technology. The most
common motive across these nefarious actions is financial gain. We have and
will continue to warn legitimate players in the crypto ecosystem to take major security and human
factors measures to protect their business concerns. Send a comment today! Lawrence – Cryptocurrency
Academy (https://cryptocurrencyacademy.blogspot.com/)
Wednesday, September 19, 2018
Can Fbot Help Prevent Crypto Mining Cyber Attacks by Destroying “com.ufo.miner” Malware?
Colleagues, we have extensively
reported on the dramatic rise in crypto
mining cyber-attacks in 2018 that have plagued the
crypto ecosystem. Enter Fbot. Security researchers are unclear if Fbot is a friend or foe
with regard to crypto mining. However, they have confirmed that Fbot is designed to propagate, scan and install
itself over “com.ufo.miner“ malware which targets vulnerable browser
software. According to NetLab 360, com.ufo.miner has its origins in monero ADB Miner Android-based
software. At first glance, it would appear that Fbot might be a tool of unknown
origin, which can reduce browser vulnerability to cyber-attacks. The key
question is whether Fbot has an ulterior motive – that is to destroy
com.ufo.miner and clear the path for another form of crypto mining malware to
be installed in its place. Share a comment today! Lawrence – Cryptocurrency
Academy (https://cryptocurrencyacademy.blogspot.com/)
Tuesday, September 18, 2018
Dark Web Security Vulnerabilities Lie at the Center of AlphaBay Crypto Fraud
Colleagues, we
all know that the cryptocurrency ecosystem is a high-value target for cyber
criminals worldwide. Nowhere is this more evident than the recent seizure of
some $8.8m USD in cryptocurrencies along with another $14m of tangible assets
from deceased cyber criminals Alexandre Cazes. Operating from Thailand Cazes amassed over 1,600 Bitcoins and another 8,300 Ethereum tokens from his illicit AlphaBay
empire. A US Magistrate ordered this seizure with the aid of Thai officials. AlphaBay is
believed to have its origins in the defunct dark web Silk Road platform. Bottom line: Crypto investors small and large are
reminded that their assets are at from cybercrime and need to maintain the
highest level of security. We recommend once again that investors and traders
alike only engage with established and proven crypto exchanges, wallets,
infrastructure providers and custodian service providers. Cyber criminals are
relentless and crypto investors must be as well. Share your thoughts
today! Lawrence – Cryptocurrency
Academy (https://cryptocurrencyacademy.blogspot.com/)
Monday, September 17, 2018
Introducing Crypto Coin Sniper
Colleagues, have you heard about Crypto Coin Sniper? I am talking about the automated crypto software that can make you up to $3,000 daily, all from just a few minutes work! That’s because the software does everything for you. All you have to do is place the trades it tells you to make and collect your profits! Because everything is done online, you can make money from just about anywhere. All you need is an internet connection and you’re good to go. Make money on the train, at the office or from your 5-star hotel in the Maldives. It takes less than 20 minutes to set up Crypto Coin Sniper and absolutely no trading experience is required. And you too could have your first $3,000 day with as little as a $50 investment! Visit us today at: http://bd2573gipo3gmpa7voslp7wnfv.hop.clickbank.net/… The money making power of this software is unparalleled. Regards, Lawrence Wilson
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