Malware has always been able to make headlines on our DC Forecasts crypto news site, mostly because of the dangers associated with their mining activities. In a new research by the computer security firm McAfee Labs, a lethal new cryptojacking malware called “WebCobra” has been proven to steal victims’ computing power in order to mine the altcoins Monero and Zcash in a secret way.
The spike in the crypto prices has also inspired a new wave of cybercriminals that use malware to cannibalize the unsuspecting victims’ computers in order to mine crypto.
According to McAfee Labs, the Russian application WebCobra installs the Cryptonight miner or Claymore’s Zcash miner depending on the custom configuration of the victim’s machine. As McAfee observed:
“On x86 systems, it injects Cryptonight miner code into a running process and launches a process monitor. On x64 systems, it checks the GPU configuration and downloads and executes Claymore’s Zcash miner from a remote server.”
Even though the malware was created in Russia, researchers claim that it has spread around the world – and there have been infections found in Brazil, South Africa as well as the United States. McAfee Labs also warned the users to look out for potential signs from their computers, stating:
“Once a machine is compromised, a malicious app runs silently in the background with just one sign: performance degradation. As the malware increases power consumption, the machine slows down, leaving the owner with a headache and an unwelcome bill.”
This attack is another clear example of why the stockpiling of vulnerabilities by governments is a problem, according to many experts in the field. Meanwhile, cryptojacking has surged by 459% this year alone, according to recent research.
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“We will never accept won or renminbi or francs or cryptocurrency, or any other currency. You have to relieve your debts to the state of Ohio with U.S. dollars. That’s what we’re currently accepting. This platform just allows for that exchange, basically before that debt is settled to the state of Ohio.”Sprague pointed out that the treasury is reviewing how the program can be expanded and they are looking into the potential risks that can come up by using this method of tax payments. Ohio is working hard to attract blockchain-related businesses to the state. The state has already passed a law allowing businesses to pay taxes in crypto but the State Treasurer Josh Mandel stated that the legislation ‘’pants a flag’’ in Ohio regarding cryptocurrency adoption. Two days ago, the County Auditors’ Association of Ohio announced the gathering of a group that will work to explore the benefits of blockchain in real estate and transfer of land titles.
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