Kaspersky Lab’s Report: Cryptojacking Crimes Have Increased By 400% in 2018

Kaspersky Lab has published report that about 13 million cryptojacking crimes have been committed in 2018. This number is quite impressive, however, if we look at it from the annual statistics point of view, we can see that the amount of cases are up by 400% this year alone.

Cryptojacking is a term to describe malicious activity when a culprit generates cryptocurrency (transfer funds) without the owner’s knowledge using a compromised device. This kind of crypto crime is highly popular in the financial world.

The most common jacked cryptocurrency by cryptojackers is Monero (XMR). The virus or malware enters a user’s PC, usually it happens when the later watches online ads or solves captcha. Then the script creates chaos on a PC’s CPU power making the system run slowly.

Our editorship urges you to be careful in order not to fall into the hands of criminals. We want to remind you:

Kaspersky Detected a Crypto Exchange Hacker Attack Coming from North Korea

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If Euro Is Doomed, How Will It Influence the Financial Situation in the World?

It comes as no surprise that the cryptocurrency market has been in an unstable state in the recent couple of month. However, it seems like the conventional monetary system is starting to crack as well.

The experts and financial specialists are especially worried about the fate of one of the major world currencies – Euro.

In the article for Financial Times, the market and investment researcher Russell Napier claimed that euro might face some difficult times due to the downfall of the economy in the eurozone.  

The key consequence of this collapse will be the destruction of the euro. The expected success of the far-right and far-left in the European parliamentary election in May this year augurs the beginning of the end for the currency union. Both extremes share a commitment to the return of sovereignty to their parliaments that is incompatible with a single currency,” he said.

A lot of leading European countries, like Italy and Germany, are experiencing a major decrease in the economy growth rate and a lower performance rate of the major financial establishments.

Napier is sure that the policy of the European Union, namely restricting control over capital flow will have a detrimental effect on euro, the fall of euro will, in its turn, cause a collapse at the market.

But still the financial system is a very unpredictable thing, and anything could happen, despite the boldest forecasts of experts. Anyway, we hope that 2019 will be a more stable and favorable year both for crypto and fiat currencies.

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Cryptocurrency Prices Today, January 21: Cryptocurrencies Fell into the Red Zone

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the online platform Coingecko, Bitcoin (BTC) lost 4.2% in the past 24 hours. The price at the time of writing is $3527 per coin.

The other cryptocurrencies are also declining:

Bitcoin Cash lost 5.28% over the past 24 hours and costs $121 per coin;

Ripple dropped by 3.32% and is $0.31 in price;

EOS decreased by 4.66%, and its price is $2.36;

Litecoin fell by 7.04%, and its price is $30;

Cardano lost 5.63%, and its cost is $0.042;

Stellar decreased by 5.02% and costs $0.10;

IOTA lost 4.68%, and its cost is $0.30;

Dash dropped by 5.21%, and its price is $69;

Monero became cheaper by 4.22% and costs $44.

Over the past 24 hours, Ethereum lost 5.42%. The exchange rate of the coin is $117.

The total market capitalization rose to $118 billion. Bitcoin accounts for 52.5% of the total volume. In monetary terms, this is $62 billion.

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SWIFT Payment System: What It is and How It Works

A transfer of funds between countries used to seem something out of real, but today it is a convenient and fast process, which is perceived as a regular thing. The development of technology has greatly simplified SWIFT transfers, which every modern person should know about.

Therefore, in this article The Coin Shark will answer in detail the frequently asked question regarding SWIFT transfers.

What is SWIFT and what does is stand for?

This is an interbank system with a minimum commission for transfers in any currency, which was established in 1973. The abbreviation SWIFT itself stands for “Society for Worldwide Interbank Financial Telecommunications. ”

Working with SWIFT

The system can be used by organizations, private individuals or entrepreneurs. For international financial transactions, it is necessary to specify the details of the beneficiary’s account and the SWIFT code of the bank to which funds will be delivered. To transfer money, it is not obligatory to start an account, since transactions can be carried out through transaction accounts of users of the system.

One more peculiarity is that the processing of payments in the system takes a little longer, but it is compensated by a low commission, for example, in comparison with Western Union or Contact systems. Transaction processing takes from one day to one week. The speed of the operation depends on availability of a settlement account.

Requirements for the SWIFT user

To work with the system, you must follow the following rules:

  • to fill in the details of payment and transfer in English;
  • to pay a transfer fee without using the account. It is recommended to open one if transfers are performed regularly.

To use the system, the accurate SWIFT system details are required, which include:

  • the name of the bank and its SWIFT code;
  • the name of the correspondent bank and its SWIFT code;
  • beneficiary’s account;
  • basic information about the beneficiary that identifies him.

SWIFT tariffs

There is no single table of rates on services in the system due to the differences in banking structures. Since each international financial organization has an individual cost of services.

The most common is a two-sided payment for transaction. But even in this case the commission is lower compared to other systems, this is especially appreciable when speaking about large transfers. However, for transfers of smaller amounts of money, the system is of no less demand.

Money transaction

To transfer money through the international system, you need to do the following:

  • to indicate in the bank, that is a member of the SWIFT community, from which account the transfer will be carried out or clarify that from none;
  • to give the passport and the details of the SWIFT transfer to a representative of the bank;
  • to apply for a transfer;
  • to pay the required amount of money through the bank cash office, taking into account the commission.

Receipt of funds

Before receiving funds, it is necessary to make sure that they have arrived to the account. For this you need:

  • contact by phone with the bank to which the funds should arrive;
  • check your account in your member area remotely via the bank website.

To receive funds, you must perform the following steps:

  • to visit the bank to which funds should arrive;
  • to present the identification documents to a bank representative and withdraw money from the account;
  • if necessary, to convert the received funds into desired currency at the rate effective at the bank.

Advantages and disadvantages of the SWIFT system

Advantages:

  • a high level of security of money transfers worldwide;
  • the ability to transfer and receive any sum range;
  • calculation of funds in any currency;
  • minimum commission;
  • the ability to receive or send funds at almost any bank of the world;
  • if the system fails, it will compensate for losses.

Disadvantages:

  • transfer can take 7 days;
  • due to the involvement of several banks in the process, the system may fail.

As you can see, the number of advantages is much greater than disadvantages, this is why today the international transfers in SWIFT are the most in demand.

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Malware From The Pirate Bay May Hijack Website To Steal Crypto

The movies downloaded from The Pirate Bay bring a malware to the user’s computer. That was the conclusion reached by a security researcher, with the nickname  0xffff0800 in Twitter. He told that when he downloaded a movie ‘The Girl In The Spider’s Web’ from TPB, a .LNK shortcut with CozyBear malware got to his computer.

However, the Cozy Bear malware is just a decoy, the real thing that brings damages is Powershell commands. Once the malware reaches the computer, it carries out malicious actions, like disabling Windows Defender and installing viral extensions in Firefox and Chrome browsers. Moreover, it edits the appearance of the website on the user’s computer.

The movie is an application itself which links the computer to the external malicious servers.

Source: Bleeping Computer

Moreover, the newly installed viral extensions can modify the JavaScript code and add some advertisements to the main page, like it is shown below.

Source: Bleeping Computer

What is the most dangerous is that the malware can edit the appearance of the web page and add or change the information without the user’s awareness, this ability allows the malware to steal the crypto. For example, if the user open Wikipedia page on a compromised system, he/she is likely to see the message saying “Wikipedia now accepts donations in form of bitcoin” and a ‘DONATE’ sign. All the donations will go to the hacker.

Source: Bleeping Computer

In addition, the malware is able to change crypto wallet addresses provided on the pages. Unfortunately, you will not even notice how the hacker stole your money.

We remind you

YouTube Will Remove All Videos with Dangerous Pranks and Challenges

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Cryptocurrency Prices Today, January 18: Cryptocurrencies Are Relatively Stable

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency prices

According to the Coingecko online platform, Bitcoin (BTC) added 1% over the past 24 hours. The price at the time of writing is $3611 per coin.

Cryptocurrencies are demonstrating both slight increase and decrease:

Bitcoin Cash added 0.61% over the past 24 hours and costs $129 per coin;

Ripple grew by 0.21% and costs $0.32;

EOS increased by 2.72%, and its price is $2.51;

Litecoin gained 1.1%, and its value is $31;

Cardano added 1.62%, and its cost is $0.046;

Stellar gained 2.44% and costs $0.10;

IOTA increased by 5.41%, and its cost is $0.31;

Dash grew by 2.21%, and its price $72;

Monero became more expensive by 0.35% and costs $45.

Over the past 24 hours, Ethereum added 0.66%. The rate of the coin is $123.

The total market capitalization is $122 billion. Bitcoin accounts for 52.4% of the total volume. In monetary terms, this is $64 billion.

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BitPay Transactions Surpasses $1B in 2018, B2B Payments Records 225% Increase

BitPay is a US-based bitcoin payment provider which has recently announced its financial results of the past year. The company has processed over $1 billion in transactions alone. Moreover, its B2B payments record 225% increase in compare to 2017.

The main reason of such a lift-off is that Bitpay added a lot of new clients, like Dish Networks, HackerOne, and the State of Ohio, as well as many other law firms, data center providers, and IT vendors.

The CEO of BitPay, Stephen Pair, commented on this development:

“BitPay’s B2B business continues to grow rapidly as our solution is cheaper and quicker than a bank wire from most regions of the world. To process over a $1 Billion for the second year in a row despite Bitcoin’s large price drop shows that Bitcoin is being used to solve real pain points around the world.”

BitPay mostly supports Bitcoin transactions, however, it also supports payments with Bitcoin Cash, Gemini, and Paxos. During that year a lot of companies had to lay off their employees due to the market situation, yet, Bitpay conversely increased its manpower by 78 percent in the past year.

In addition, BitPay is attractive to the investors, in 2018, it raised $40 million in Series B funding round taking the total raised capital to $70 million.

We remind you

Two European Finance Regulators Urge the EU To Adopt Crypto and ICO Rules

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