Websites hacked to mint crypto-cash

School, charity and file-sharing websites have been caught out by scammers who are using them to generate crypto-cash. Hackers have managed to install code on the sites that uses visitors' computers to "mine" the cyber-currencies...


School, charity and file-sharing websites have been caught out by scammers who are using them to generate crypto-cash.

Hackers have managed to install code on the sites that uses visitors' computers to "mine" the cyber-currencies.

One scan of the most popular websites found hundreds harbouring the malicious mining code.

By getting lots of computers to join the networks, attackers can quickly generate cash.

"This is absolutely a numbers game," said Rik Ferguson, vice-president of security research at Trend Micro.

Malicious use

Mr Ferguson said crypto-currencies operated by getting lots of computers to work together to solve the tricky mathematical problems that establish who spent what. This establishes a digital ledger, or blockchain, of spending activity with a particular coin.

The number crunching is called mining and new crypto-coins are handed out to miners who are the first to solve the complex sums.

The more computer power that someone can amass, said Mr Ferguson, the more coins they can generate.

"There's a huge attraction of being able to use other people's devices in a massively distributed fashion because you then effectively take advantage of a huge amount of computing resources," he said.

Source:BBC



Related Posts

See the $30k b'day party Chris Brown threw his daughter

Support Stonebwoy: Shatta Wale to fans

Home and Away's 'Morag' actress dies aged 77

Kwaku Manu unfazed by his exclusion from movies

Nicki Minaj jumps into Drake’s Beef With Pusha T

Lemar Odom : Brothel owner's house burns down

Accra FM DJ gives to high-life legends

Harvey Weinstein released on $1m bail

Leave a reply
your email address will not be published

Featured Posts

Black Maidens drawn against host in 2018 WC opener


It’s time to produce mining inputs locally – Akufo-Addo


Retract or I sue – Asenso-Boakye to A Plus


See the $30k b'day party Chris Brown threw his daughter


Snapchat might soon offer an alternative to 'login with Facebook'


Free SHS: GHS124m released


Fuel prices to go up 3%


It’s time to produce mining inputs locally – Akufo-Addo


See the $30k b'day party Chris Brown threw his daughter


Snapchat might soon offer an alternative to 'login with Facebook'


Fuel prices to go up 3%


Snapchat might soon offer an alternative to 'login with Facebook'


Free SHS: GHS124m released


Free SHS: GHS124m released