UK and US Government Websites Mining Monero

hooded figure in front of bitcoin

When online security consultant Scott Helme was shown warnings a friend had received from visiting a UK government website, he couldn’t imagine that he was about to uncover one of the biggest cases of crypto-jacking we’ve ever seen. The first example which came to light was the UK’s Information Commissioner’s Office (not to be confused with the initial coin offering…

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Record Quarter For Leading Graphics Card Manufacturer; Boom In Crypto Mining Partly Responsible

smartphone with nvidia logo

On Thursday, Nasdaq-listed GPU manufacturer Nvidia (NVDA) reported record revenue for both the fourth quarter and fiscal 2018. The company focuses primarily on artificial intelligence, machine learning, and gaming – but a surprise source of booming demand has also come via cryptocurrency miners. In the CFO commentary provided by Nvidia, “strong growth” in sales of “GeForce® gaming GPUs” was attributed…

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Russian Nuclear Scientists Caught Mining Cryptocurrency

female scientist next to supercomputer

Russia has turned into something of a cryptocurrency hotspot, with authorities there becoming surprisingly welcoming to crypto innovation. However, even they have their limits, and when they discovered that scientists at a top secret nuclear facility were using the supercomputers to mine cryptocurrencies, they decided that things had gone too far. According to the Scientific Research Institute for Experimental Physics,…

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Samsung Entering the Cryptomining Business

cryptocurrency mining

South Korean electronics giant has made a bold move into cryptocurrency mining. According to Korean news agency The Bell, mass production of the ASIC chip has already begun. ASIC (or application-specific integrated circuit) are chips created for a specific, rather than a general, purpose, for example, Bitcoin mining. Samsung will be partnering with an as yet unidentified Chinese distributor. Some…

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Opera’s Mobile Browser Now Offering Protection from Cryptojacking

cryptojacking

“Cryptojacking”, the taking over of users’ devices to mine cryptocurrencies such as Monero, is on the rise. Unlike Bitcoin, which needs powerful, specialist hardware, Monero, and some other cryptocurrencies, can be mined on almost any internet-enabled device. Last month Starbucks customers in Argentina were surprised to find that logging onto the cafe’s WiFi caused them to mine Monero, while Transneft,…

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Signs Of SegWit: Block Size Records For Bitcoin, Mempool Backlog Easing

blockchain

Bitcoin mining is undergoing a fundamental shift, as evidenced by yesterday’s mining of the largest sized block yet. Last night’s (UTC time) record-breaking block (#505,225) came in at 2.18MB. Such sizes continued overnight, with several blocks recording sizes in excess of 2MB. The initial record was in fact short-lived, with block #505,253 – totalling 2.22MB – mined in the early…

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Canadian Electricity Firm Shocked by Demand from Cryptocurrency Miners

cryptocurrency mining

Though China currently accounts for 70% of world cryptocurrency mining, authorities have made clear that it’s an industry they’d rather live without. Mining operations looking for cheap electricity and legal stability are now flocking to the Canadian province of Quebec. In 2016 Hydro Quebec, Canada’s largest electricity company, started a campaign promoting the province as a perfect place for internet…

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Chinese Authorities Intensifying Their Anti-Cryptocurrency Stance

chinese flag with split bitcoin

There are mixed messages out of China at the moment regarding cryptocurrencies. As reported today, VeChain, a Singapore-based blockchain product management platform, is pairing up the Chinese government to improve the legitimacy of the tobacco supply chain.   However, when it comes to cryptocurrency trading, China is intensifying its crackdown. China banned ICOs and crypto exchanges in September last year…

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Monero-Mining Malware Linked to North Korean University

north korean flag on computer

Analysts for cybersecurity firm AlienVault have identified new malware which mines Monero and transfers it to a server in Kim Il Sung University, Pyongyang, North Korea. The malware was created on December 24th and infects host computers without their users’ knowledge. In a statement AlienVault said that cryptocurrencies like Monero, “may provide a financial lifeline to a country hit hard…

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China to Regulate Bitcoin Mining by Restricting Electricity

china map with bitcoin supimposed on it

According to news sources in the region, Chinese authorities are looking to discourage cryptocurrency mining by gradually starving mining operations of electric power. During a closed-doors meeting of the Leading Group of Beijing Internet Financial Risks Remediation an official from the central bank outlined ways government could further discourage crypto-activity in the People’s Republic. Though mining is currently still legal…

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