Home Cryptocurrency Trojan Of Mining Tops The List Of 19 Blockchain Security Threats In...

Trojan Of Mining Tops The List Of 19 Blockchain Security Threats In 2020

  • 7 Trojan of Mining threats was recorded in countries like the UK and the USA.
  • The malware was also discovered by researchers at Unit 42 and named it Lucifer.
  • Several phishing rackets were unearthed that prompted users to click on fake sites and access their funds. 

Many consider cryptocurrency to be the way forward for fiat notes across the world. However, the base on which cryptocurrencies are built i.e., blockchain network, is still vulnerable to outside threats, especially Ransomware/ Trojan of Mining. The survey was carried out by Beosin-Eagle Eye, a blockchain security management platform. A resounding 19 security threats were recorded across all types of breaches. 

Crypto scams, Ransomware, Dark Web, and the list is endless 

Australia’s beverage giant, the Lion, faced two ransomware attacks within a week. The ransom amount stood at $800,000 in Monero, failing to pay would lead to the destruction of the firm’s IT Infrastructure. 7 Trojan of Mining threats was recorded in countries like the UK and the USA. The new malware was also discovered by researchers at Unit 42 and named it Lucifer that could be used for malicious mining and various cryptocurrency attacks. 

Crypto scams on the Bermuda Exchange and the Ontario Securities and Exchange Commission were carried out for various purposes. Counterfeiting volume on the latter was as high as $115 million. Balancer and Bitbank were exposed to security incidents where the service domain of the latter was illegally accessed. The losses on the two liquidity pools on Balancer amassed $500,000. In the Dark Web area, four security threats were noted in the USA, UK, Anhui, and Russia. A dark web called Cardplanet operated by Aleksei Burkov was instrumental in selling credit card information on the internet. 

Security threats might lead to a financial crisis 

Bancor was also comprised in June, where $500,000 funds were allegedly exposed. Hackers transferred $800,000 BTC at the start of June. The funds were stolen from Bitfinex four years ago. Several phishing rackets were unearthed that prompted users to click on fake sites and access their funds. 

The overall security threat is rated medium by Beosin-Eagle Eyes with a strong recommendation to enhance security measures. The risks cannot be ignored any further as users need to be more cautious while accessing files on the internet. Unknown sources are one of the most common mediums to carry out scams on user devices.        

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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