Web hosting company pays $1 million after Erebus ransomware attack
The cost of a ransomware attack can be pretty substantial. Businesses that are not well prepared are looking at lost revenue from downtime and massive damage to their reputation, not to mention a pretty hefty ransom bill as well.
For web hosting company Nayana, that was $1 million. Nayana, which is based in South Korea, had 153 of its Linux-based servers infected by the Erebus ransomware on June 10. The attack affected roughly 3,400 customers that relied on its services for hosting websites, databases and multimedia content.
Bitcoin, Ethereum and other cryptocurrencies have millions of users
Cryptocurrencies like Bitcoin and Ethereum are receiving more and more attention, but the fact of the matter is, the market is still in its infancy. To put things into perspective, its capitalization is currently about six times lower than Google -- and even less compared to Apple, which is the most valuable publicly-traded company in the world.
What we do not know exactly is how many people own cryptocurrency. It may be a small market in the grand scheme of things, but according to new report from Cambridge Judge Business School, between 2.9 and 5.8 million people in 38 countries use Bitcoin, Ethereum and other cryptocurrencies.
How to buy Bitcoin and Ethereum
The insane rise of Bitcoin and Ethereum makes investments in the two main cryptocurrencies very attractive. You can turn a nice profit in trading but, to play in this market, you first need to get your hands on some coins. So, how do you buy Bitcoin or Ethereum?
Like all the cryptocurrencies that matter, Bitcoin and Ethereum are mainly available through dedicated exchanges. There are also other ways to get Bitcoin and Ethereum, like mining and private trading but, for most people, an exchange is the safest and easiest way to buy into this market, so this is what we will look at here.
Bitcoin and Ethereum see massive corrections after record prices
You know how the saying goes, "What goes up must come down." It also holds true in the case of top cryptocurrencies Bitcoin and Ethereum, which after reaching record levels this week, are now seeing massive corrections.
Bitcoin, which reached a high of 3,000 just a few days ago, is now trading for just over $2,250 on the major exchanges. Ethereum, which is expected to overtake Bitcoin in the coming period, saw its price drop from $400 to around $310. And it is not just the two cryptocurrencies that are suffering.
Bitcoin exceeds $3,000 and Ethereum breaks $400
The price of Bitcoin this year has served as a constant reminder that I should take chances more often. When I wanted to invest a small amount -- but didn't -- it cost less than $30. On January 1, it was trading for over $1,000. On May 20, it broke the $2,000 mark for the first time.
And, today, the price of Bitcoin breaks another record, trading past $3,000 for the first time. It is a huge increase in less than half a year, and an astronomical increase compared to when I should have invested -- I wish I didn't know math for a second, because the price of Bitcoin today is 100 times higher. Ouch!
UK businesses prepare for ransomware attacks by buying Bitcoin
British businesses are ready to pay as much as £136,000 to get their files back after a ransomware attack. This is according to a new report by Citrix and One Poll, based on a poll of 500 IT decision makers at UK companies with 250 or more employees.
The report says these new figures are four times higher than 12 months ago, highlighting the growth of ransomware risk among businesses on the Island.
TheShadowBrokers ditch Bitcoin in favour of Zcash as details emerge of monthly exploit subscription service
TheShadowBrokers, the hacking group behind the leak of NSA malware, has announced further details of the "Data Dump of the Month" subscription service it has previously talked about. Now known as "TheShadowBrokers Monthly Dump Service," the launch sees the group switching from Bitcoin to Zcash as its currency of choice.
Signing up for the service will set interested parties back 100 ZEC (Zcash). As this equates to over $20,000, it's not a subscription that many people are likely to be taking out, particularly as there is no evidence that the group has more exploits to offer. The hacking group has previously said that it has Windows 10 vulnerabilities to expose.
Bitcoin price will reach £3,000 this year
"What leads you to believe that Bitcoin will top £3K in 2017?" The answer does not lie in an analysis of macro-economic or monetary theory but in a more interesting understanding of human behavior. An understanding of human behavior and motivation, similar to that which lead Steve Jobs to develop the products he did and the digital marketing system of today. But first, let’s rewind.
Six months ago, before the Brexit vote, when the world seemed a safe and steady place, I put forward the theory that Bitcoin would surpass gold as the safe haven currency. While I pondered this theory, I realized that given the right conditions digital currencies can only trend up in value. The date was late April 2016, I had just been paid, so I went online and spent all that month’s wages on Bitcoins. I'm not a gambler and I’ve never invested in shares. But this was a sure thing.
How to get rich trading Bitcoin
As an observer of the Bitcoin market as long as this original cryptocurrency has existed, it never made much sense to me from an investment perspective. Bitcoin prices were too volatile and the volatility seemed too random. Volatility can be a good thing for traders, mind you, but only if you think you have an idea why the price goes up and down the way it does. Otherwise it is just a good way to lose all your money. But a couple of recent events have changed my view of Bitcoin. I now think I can explain its volatility and predict it well enough for profitable trading. And the best part is that it takes no rocket science at all. Your mother (and mine) can make a living trading Bitcoins.
For those who don’t know, Bitcoin is a stateless currency based on blockchain calculations. There will only ever be 21 million Bitcoins and only 16-odd million of those have so far been "mined." The present value of all mined Bitcoins is around $18 billion, which is amazing if you realize they came from nowhere and have no intrinsic value.
Popcorn Time ransomware asks victims to infect other computers to decrypt their own files
Ransomware is the malware du jour and those seeking to extract money from victims have started to use a pyramid scheme system to increase the rate of infection. Not content with encrypting a victim's files and holding them to ransom, the Popcorn Time ransomware encourages those who have been struck to pass on the infection.
As is the norm with ransomware, Popcorn Time gives the victim the chance to pay a Bitcoin ransom to decrypt their files, but it also offers a self-described "nasty way" to unlock files for free. Think of it as a ransomware referral scheme.
Bitcoin price surges after Trump's victory
The world is still reeling from the outcome of the US elections, where Donald Trump came out on top against Hillary Clinton to become the 45th President of America.
Financial markets around the world have been affected by the shocking and unexpected news and the notoriously unpredictable digital currency Bitcoin is no exception, with prices close to hitting a 35-month high against the pound amidst investor uncertainty.
Hackers selling NSA hacking tools for 10,000 bitcoins
It seems as no one wants to buy NSA’s exploit tools. Or maybe ShadowBrokers, the group selling the tools, overpriced the deal.
The group, allegedly formed by Russian, state-sponsored hackers, decided to pull the auction on the tools. Instead, it turned it into a crowdfunded sale, aiming for 10,000 bitcoin, or slightly over $6 million.
Hacker group Shadow Brokers auctions off NSA malware
The NSA has (or had...) a collection of malware in its cyber arsenal. It has been stolen by hackers. It is now available to buy.
A group of hackers going by the name of Shadow Brokers claims to have stolen a range of hacking and malware tools from Equation Group's servers -- Equation Group is itself closely linked with the NSA. The group is offering the tools for auction and will sell them to the highest bidder. If bidding reaches one million Bitcoins, however, the group says it will make the tools publicly available to all.
$72 million Bitcoin theft from Bitfinex exchange causes cryptocurrency price plunge
The theft of 119,756 Bitcoin from the Bitfinex exchange has seen the price of the cryptocurrency plummet by 23 percent. In what has been described as the second biggest Bitcoin theft after MtGox, $72 million worth of Bitcoins vanished from user's accounts.
It seems that Bitfinex suffered a massive security breach when it was hit by hackers who started to filter money out of segregated wallets. Despite the hack, the exchange says that this incident doesn’t "expose any weaknesses in the security of a blockchain".
EU wants to create a database of Bitcoin users
The end of anonymity for Bitcoin users may be fast approaching as the EU has put forth a proposal that would require anyone using the cryptocurrency in the member states to register on a database.
The European Commission (EC) is behind the push to take away anonymity from Bitcoin and other virtual currencies with the hope that this could help prevent a number of crimes that use digital wallets as a means of avoiding a paper trail. The proposal would require all users of the cryptocurrency to register using their real-world identity and to provide the addresses of the virtual wallets containing their funds.
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