Researchers at NTT Security’s Global Threat Intelligence Center (GTIC) have issued a warning regarding cryptocurrency mining malware in a report published today. NTT Security has visibility into 40 percent of the world’s internet traffic, and its GTIC has detected approximately 12,000 samples of crypto-mining malware since March of 2015.
There are serious business implications to ignoring this current threat. We are encouraging all companies to be more vigilant of cybersecurity threats to their business.
There are often simple and effective ways to mitigate risks, but too often the most obvious things are overlooked.” The cryptocurrency of choice to be mined in this manner is Monero (XMR). The privacy-oriented coin obfuscates transactions on its blockchain, making it impossible to see the addresses and amounts involved, and preventing anyone from tracing the movement of any given XMR. The Monero blockchain also hides the XMR balances of users, so a public “rich list” is not available. The opacity of Monero has led to a boom in the popularity of the cryptocurrency on the Dark Web. The hackers behind the infamous WannaCry cyber attack last year recently converted a large portion of their ill-gotten gains into XMR from BTC. While the association with criminals has led to a negative public conception of Monero, it also speaks volumes about the coin’s efficacy in maintaining anonymity. Monero has also shown an exponential growth in price since it debuted in 2014 at $2.45 per coin. At the time of writing, XMR is valued at roughly $333 per coin, down from its all-time high of $494.16 in December of last year. This has made Monero not only a completely private store of value but also a financially beneficial one at that, which has encouraged XMR users to hold it for its own sake, rather than to use it solely as a transactional currency. Read more from coinjournal.net…
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