Cryptocurrency exchange and custodian Gemini has chosen Eventus Systems to provide it with surveillance and anti-market manipulation tools. Austin-based Eventus already provides its services to Coinbase and ErisX, and three other exchanges.
Currently, a less regulated space, crypto, is seeing increased scrutiny from the regulators. Manipulation has been the primary reason why the US Securities and Exchange Commission (SEC) has repeatedly rejected the Bitcoin ETFs.
“The digital asset space is a constantly changing environment,” Noah Perlman, Gemini’s chief operating officer, said in a statement. “Eventus has a great track record.”
Gemini was founded by Cameron and Tyler Winklevoss in 2014. They also created the Virtual commodity Association in 2018 to work with regulators, including CFTC, to prevent fraud and manipulation in crypto markets. That year, Gemini hired Nasdaq to provide market surveillance.
“As digital assets grow in popularity, it’s more important than ever that marketplaces like Gemini establish comprehensive trade-surveillance programs and procedures to ensure they remain constantly vigilant,” said Eventus chief executive officer Travis Schwab.
Cisco Systems threat intelligence team has released a warning regarding a newly discovered Monero Mining crypto-jacking botnet called “Prometei.” The notice stated that the botnet not only mines Monero using targeted computer’s resources but also steals data from the system.
The warning revealed that the botnet has been active since May and relies on 15 executable modules to steal administrator passwords from the targeted systems. Once the malware gets access to the system, it steals all available data from the computer system.
Cisco Systems also revealed that the malware is very much active today and has infected thousands of systems. The malware is capable of containing up to 10,000 systems at any given point, which is evident from the high hash generating a frequency of 1M Hash/sec (million hashes per second).
Talking about how impactful the Monero mining botnet is, Vanja Svajcer, a researcher at Cisco Talos, revealed that the botnet generates revenue of around 1500 USD per month for its owners. While this may not seem profitable to many, the amount is ten times more than the average monthly salary in many countries. Apart from that, it also costs a significant amount of time for the computer owners whose system is used to mine Monero. Svajcer explained how the botnet is harmful:
“Stealing credentials is the most dangerous part of the Prometei botnet. You could consider the attacker with its bot being a burglar in your home. Naturally, the burglar searches all the drawers and finds various keys. They take keys with them and ask somebody else (another infected system) to check if any of the keys work on your car, safe deposit box, etc. When criminals break into a house, it opens up a whole new set of opportunities. It is very similar to this botnet.”
The intelligence researchers at Cisco also believe the creator of the botnet is somewhere in Eastern Europe. For a single individual, the amount generated by the botnet should be enough as extra pocket money.
Cryptojacking malware attacks have been one of the long-running nuisances without any permanent solutions along with ransomware attacks. While ransomware attacks are quite aggressive where the hacker directly demands a ransom, cryptojacking is kind of a passive attack where the target computer owner, in most cases, won’t even realize that their system has been compromised.
Author: Hank Klinger
- T systems MMS, an affiliate of Mega German Telco Company Deutsche Telekom, has onboarded Chainlink as a node operator.
- The latest partner could only consolidate Chainlink’s spot as the top oracle solution provider.
News has now emerged that German-based T systems MMS has onboarded Chainlink as a node operator. This was announced on Chainlink’s official twitter page.
T systems MMS is a subsidiary of Deutsche Telekom, a mega player in the German Telco industry. They currently enjoy a market cap north of $80Billion boasting of around 200000 employees. T systems MMS has around 2100 staff offering expertise IoT applications while working on new business models to improve the consumer experience. They generated 176 Million Euros in revenue last year.
Dr. Andreas Dittrich, Blockchain solutions lead at T systems highlighted that Chainlink is the first Blockchain initiative they have pursued, citing that their global and digitalized needs input from multiple parties. Hence, deeming interaction with the real-life world essential to any Blockchain initiative adding that partnership further aligns them with their goal manifesting public Blockchains for multiple scenarios.
An analyst at T-Systems MMS, Gleb Dudka believes that it is almost as a duty to Telco companies to provide public Blockchain Network infrastructure. He has cited that they might consider exploring the potential of Blockchain in Telecom specific scenarios such as roaming settlements tipped to trim telco capital costs.
Meanwhile, the LINK has grown steadily and is currently trading at $7.47 recording trading volumes of $653,494,267 in the past 24 hours. They are enjoying a market capitalization of $2,615,749,456, with 350,000,000 LINK in circulation as per this writing.
Chainlink’s Aggressive Expansion
Notably, Chainlink is set to surpass Ethereum in development spending by almost $25 Million by the end of 2020, despite the latter’s market cap dwarfing Chainlink’s. They are issuing 500000 LINKS twice every month to node operators. This is more than the $30 Million Ethereum is projected to spend to reward its node operators.
Author: Lujan Odera
- Leading crypto data aggregator, Coinmarketcap.com, introduces new metric systems on the platform to combat fake volume data from exchanges.
- The release on the changes on the platform also includes a new default ranking system for market pairings on the platform.
In an announcement released on Friday, May 29, 2020, CoinMarketCap announced new changes to its metrics and market pairing ranking systems in a bid to chaff out exchanges presenting fake volumes. The new system, however, is facing major criticism from the community who claim the changes favor its parent company, Binance exchange.
Studies on cryptocurrency exchanges have found that over 90% of the trading volume reported by the platforms is fake. In a bid to combat the reporting of fake volume, Today, CoinMarketCap announced the “Confidence metric” that aims to “determine if the volumes reported by exchanges are inflated, and to what extent”.
Coinmarketcap introduces new market pairing metric
Following the launch of the #RoastCMC campaign that saw the community critic and make fun of the aggregator, the company has started to take steps towards a better platform. The platform will introduce new metric systems on the market pairings using an algorithm built including the Liquidity Score, the recently added web traffic, and the volume of each pairing.
Previously, the system only used the volume, which enticed some exchanges to inflate volumes on some of their pairs.
While the current system is expected to boost the credibility of the market pairs listings on the platform, there are concerns on Binance role in the latest changes.
Is CMC favoring Binance?
Since the reported $400 million acquisition sale of CMC to Binance exchange a number of analysts have criticized the independence of the data aggregator. The addition of the web traffic factor in the metric system tilts the favor to Binance exchange, which topped the rankings as soon as the factor was added.
Changpeng ‘CZ’ Zhao however, came forward claiming the latest changes on the crypto data platform is set to provide a short term solution for the platform.
Author: Lujan Odera
Cybersecurity researchers are always looking for flawed systems in order to expose vulnerabilities. The latest effort was made by a group of researchers who hacked a Canon EOS 80D DSLR camera in order to test a ransomware scheme.
The researchers from Check Point Research used the Picture Transfer Protocol (PTP) of the camera in order to exploit the system and hold all the photos away from the user. PTP services are generally used to transfer images and can be exploited in order to prevent the user from doing it.
Many new cameras have it as you can transfer photos using WiFi instead of a USB device, but this opens up a breach that hackers can you to take your photos and then ask ransomware for them if you ever want to have them back.
If a hacker is able to put malicious code into the camera, he can take control of the pictures and then demand ransomware. During their tests, the researchers discovered a way of doing it to encrypt the storage systems of the device.
After that, they could contact the victims and offer the keys to decrypt the camera’s files in exchange for money.
The researchers affirmed that hackers have achieved a moderate level of success with this kind of threat, especially by targetting photographers and other people who rely a lot on photos.
Canon developers were warned about the vulnerability this year, so they patched it up before Check Point Research made it public. Because of this, at the moment, the hack is not supposed to work on any kind of model in the market.
Author: Gabriel Machado