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Kaspersky warning about botnets increasingly being used for crypto mining malware

A new report from Russian internet security company Kaspersky Labs states that crypto-focused malware which is easy to produce is increasingly being used. According to the bulletin from Kaspersky Labs, resources invested in the development of new mining technologies by cybercriminals has increased. After analyzing threats across the year they stated that these cryptojackers and […]

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A new report from Russian internet security company Kaspersky Labs states that crypto-focused malware which is easy to produce is increasingly being used.

According to the bulletin from Kaspersky Labs, resources invested in the development of new mining technologies by cybercriminals has increased. After analyzing threats across the year they stated that these cryptojackers and miners are gradually replacing ransomware Trojans.

This is done by installing malware that uses a computer’s processing power to mine for cryptocurrencies without the owner’s consent or knowledge.

The analysts said that the number of unique users attacked by crypto miners grew dramatically in the first three months of 2018. More users were infected in September than in January and the threat is still current, though it is unclear whether the recent collapse in the crypto market’s prices will have an impact on the infection rate.

According to experts, the reason for the decline of general DDoS attacks across the internet is most likely to be the reprofiling of botnets from DDoS attacks to cryptocurrency mining.

Five percent of all Monero coin has reportedly been generated by illegal crypto mining malware because it is popular with illicit actors due to its anonymity, value and the easy exchange options. It has been estimated that illegal Monero mining has earned the cryptojackers around 175 million dollars. The Russia-made mining malware for mining Monero, which was running almost without a trace, has been uncovered by McAfee Labs in mid-November.

Kaspersky warns that it is very easy for cybercriminals to create mining malware due to the availability of the ready-to-use affiliate programs, open mining pools, and miner builders. The internet security firm says:

“It might be quite a while before the user notices that 70-80% of their CPU or graphics card power is being used to generate virtual coins.”

According to Kaspersky, such threats appear less in the US, which only experiences 1.3 percent of all attacks and some areas in Europe. In countries where unlicensed computer software is more common, incidences of mining malware are more frequent. For example, even though cryptocurrency use is restricted in Vietnam, it is experiencing 13 percent of all attacks.

Image Credit: Deposit Photos

Source: https://bitrazzi.com/kaspersky-warning-about-botnets-increasingly-being-used-for-crypto-mining-malware/

Blockchain

Avalanche raises $230M following sale of >1500% returning AVAX

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This season of the crypto-market has highlighted altcoins and altcoin projects that have been striving to bridge the gaps existing in the industry. Avalanche is one such project, with the same in the news today after it raised $230 million from the sale of its cryptocurrency, AVAX.

According to the foundation behind the blockchain, Avalanche received this sum of investment through a private sale to a group led by Polychain and Three Arrows Capital.

Reportedly, R/Crypto Fund, Dragonfly, CMS Holdings, Collab+Currency, Lvna Capital, and a group of angel investors and family offices also participated in the investment round. The token sale was completed in June and the objectives of the foundation were to support and accelerate the growth of decentralized finance [DeFi], enterprise application, and other use cases on the Avalanche public blockchain.

Its token AVAX has recorded tremendous growth, despite the market trend being increasingly bearish. The asset, at press time, was returning 1,589% to investors year-to-date after it rallied to $63.62. AVAX also registered a strong surge of almost 30% in one 24-hour window, a consequence of the latest updates to the ecosystem.

Another reason why the blockchain surged higher was the onboarding of several blue-chip DeFi projects like Aave, Curve, and SushiSwap. On Wednesday, Avalanche Foundation asked for ‘signaling’ from the Aave community to accept a deployment of the Aave protocol into Avalanche.

Aave ecosystem could leverage Avalanche’s blockchain due to scalability, high throughput, and near-instant finality. According to the blog,

“Through the Avalanche Rush program, the Avalanche foundation has allocated up to $20M AVAX for users of the Aave protocol over a three-month period to earn AVAX rewards while using Aave on Avalanche for the first phase of the program. This program will bring new users to the platform, and reach more users from the established Avalanche community.”

It added,

“Having the Aave community embrace deployment on established chains like Avalanche will allow more users to access Aave’s offerings across the DeFi ecosystem.”

With competition between layer one protocols heating up, Avalanche has been trying to secure a top position. According to Emin Gün Sirer, Director at the Avalanche Foundation, there is “still so much potential yet to be tapped at the intersection of institutional and decentralized finance on Avalanche.”

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Source: https://ambcrypto.com/avalanche-raises-230m-following-sale-of-1500-returning-avax

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Blockchain

Scaramucci’s SkyBridge Capital Secures $100M For Algorand Fund, Files For Crypto ETF

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Scaramucci’s SkyBridge Capital Secures $100M For Algorand Fund, Files For Crypto ETF

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The number of cryptocurrency-focused exchange-traded funds (ETFs) applications in the U.S. has been growing as several asset management companies have shown interest in offering their clients exposure to cryptocurrencies via regulated exchanges.

In an SEC filing on September 14, SkyBridge Capital became the latest to apply for a crypto-focused ETF – the First Trust SkyBridge Crypto Industry and Digital Economy ETF. According to the filing, if approved, the ETF will invest about 80% of its assets in companies representing the crypto-industry. This also means that the ETF will not have direct exposure to cryptocurrencies.

More recently, Anthony Scaramucci, the founder of the firm and former Whitehouse Communications Director, revealed that the investment firm now had over $700 million in crypto investments and intends to increase its positions in the market even further.

He stated this during an interview with CNBC Television yesterday in the aftermath of the ongoing SALT Conference New York 2021. During the interview, Scaramucci revealed that the firm was starting an Algorand fund that will be capped at $250 million and had already raised over $100 million.

Remarkably, the firm first added Bitcoin to its portfolio last and in July revealed that Bitcoin was the largest contributor to gains this year at the firm according to a Financial Times report. The firm has previously filed applications for both Bitcoin and Ethereum ETFs.

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Another notable cryptocurrency ETF development was the report that Fidelity Digital Assets met with SEC officials privately to push for the approval of their proposed bitcoin exchange-traded fund and argued the cryptocurrency market is now big enough to support it.

According to a Business Insider report, in the meeting, the firm cited an in-house survey that showed that bitcoin exchange-traded products held massive appeal to US institutions. They also argued that institutions had a strong interest in digital assets, and a significant number of institutional investors already hold cryptocurrencies. 

This argument has been made by other companies but has so far not swayed the SEC. The crypto-industry has been applying for cryptocurrency-focused ETFs for around eight years with the first being from Bitcoin billionaires, the Winklevoss brothers. Since then the SEC has been denying the application.

In 2021, there are more than 20 companies that have filed for crypto-focused ETFs with the SEC. Some include Galaxy Digital, VanEck, and Valkyrie Investments, all notable investment managers.

The SEC is yet to approve any of the applications. Gary Gensler, the SEC chair has stated that the commission is being cautious with the industry so as to be able to protect consumers maximally. However, there are speculations that approval may arrive before the end of this year. Just last month, Eric Balchunas and James Seyffart – Bloomberg’s in-house ETF analysts – on Tuesday published an investor note that speculated that a Bitcoin ETF approval may likely arrive in October.

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Source: https://zycrypto.com/scaramuccis-skybridge-capital-secures-100m-for-algorand-fund-files-for-crypto-etf/

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Shiba Inu Token Is Up 25% Following Coinbase Listing

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Source: https://cryptobriefing.com/shiba-inu-token-is-up-25-following-coinbase-listing/?utm_source=main_feed&utm_medium=rss

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