Bitcoin, Cryptocurrency And Blockchain News

30% Of UK Companies Fell Victim to Cryptojacking Last Month


Business tech website ZDNet has reported that 30% of UK companies suffered cryptojacking attacks last month. According to the survey published by software company Citrix, 20% of these companies are still unprepared for potential attacks in the future.

Just over half — 60 percent — of organisations who detected cryptojacking attacks say under 50 devices were affected. Just one in ten said over 100 machines were found to contain traces of the malware.

Cryptojacking allows hackers to use a computer’s processing power to mine cryptocurrencies without the owner’s permission. Hackers either lure people into this attack by sending fake emails with malicious links, or by infecting an online site.

The survey also revealed that 59% of these companies found crypto mining malware on their computers. Furthermore, 80% of these complaints began in the last six months.

Cryptojacking slows down a computer, which is how an individual is able to deduce that their computer has been hacked. In June 2018, McAfee labs reported that cryptojacking had increased by 629% in the first quarter of 2018.

Crypto cyber crime has increased as criminals are coming up with new ideas to steal digital currencies. From kidnapping people and forcing them to reveal private keys, to hacking crypto exchanges, various incidents have raised concerns from legal authorities.

Scammers have also used ICOs as a way to trick people into ‘investing’ their cryptocurrencies. The US Securities and Exchange Commission (SEC) recently banned an ICO founder for presenting deceitful information to investors. The agency also published a warning to crypto investors, explaining the importance of researching the background of anyone involved in an ICO.

Earlier this week, a Thai actor was arrested for allegedly scamming a Finnish millionaire and getting away with $24 million’s worth of Bitcoin. The actor, along with his two siblings and six other suspects, convinced the millionaire to invest in a casino, a cryptocurrency and three different companies.