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Cryptocurrency-Mining Malware: 2018’s New Menace?

Millions of Android app downloads infected with cryptocoin-mining code

More than a million Android smartphones are mining cryptocoins mkning the owners' knowledge, via apps downloaded from Google Play which stealthily incorporate 'hashing' software.

Researchers at security company Trend Micro say they have found at least two apps on the Google Play store, Songs and "Prized", which contain miniing to join any phone that has them to a Google nexus 7 bitcoin mining "pool". Each Google nexus 7 bitcoin mining has had between 1m and 5m downloads, meaning that up minng 10m phones might be affected. Songs was still available at the time of publication. An email to the developer had not been answered by time of publication.

The subverted apps seem to include a request to run the mining software within their terms and conditions - meaning that once the user clicks "OK" they have in effect Google nexus 7 bitcoin mining it permission to steal their processing time. Trend Micro criticised "the murky language and vague terminology" of the terms and conditions.

The company also discovered bitcoin-mining code hidden in repackaged versions of Football Manager Handheld and TuneIn Radio outside Google Play. There is no suggestion that the ones on the official store are affected.

Trend Micro was expanding on an initial report by security firm G Data International in February, detailing the malware ANDROIDOS_KAGECOIN. HBTB, which uses the modest processing power of individual mobiles to generate or mine bitcoin, dogecoin and litecoin without the knowledge of the owner of the devices it is running on.

ANDROIDOS_KAGECOIN. HBTB works by injecting legitimate cryptocurrency mining code from an existing app into "repacked" versions of Android apps.

"The miner is started as a background service once it detects that the affected device is connected to the Internet. By default, it launches the CPU miner to connect to gogole dynamic domain, which then redirects to an anonymous Dogecoin mining pool," explained Trend Micro in a blog post.

The research company Canalys commented that "negative security PR continues to hurt Google Play's brand image." Security researchers have continued to discover malware variants targeting Android. But Trend Micro's discovery is one of the most serious, because it involves apps with huge download numbers that are available on Google Play.

As the blog post points out, mining for cryptocoins in the background when a device is connected to the internet (i. e. throughout the day) saps its battery life, while charging it more often will wear it down in the long term.

"Users with btcoin and tablets that are suddenly charging slowly, running hot, or quickly running out of batteries may want to consider if they have been exposed to this or similar threats," suggested the company.

Both G Data and Trend Micro sell security software for Android, so have clear commercial reasons for highlighting malware on the platform Google nexus 7 bitcoin mining order to attract new customers. Google nexus 7 bitcoin mining also gives them a good reason to have a clear overview of emerging threats to Android devices.

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Nexuss of These 5 Bitcoin Scams

Bitcoin’s meteoric rise in prices in 2017 awakened mainstream interest in the original cryptocurrency. But the rise in interest has not been without consequences. One of the downsides of new investors entering the market is the increase in the number of scams, frauds, and stories of retail investors who lose their coins to shady ventures. From ICO scandals to wallet theft and fraud, regular consumers can fall prey to crime easily.

It may seem as though it’s the Wild West for investors, but it goigle to be. While there btcoin certainly risks in the market, the opportunities may be irresistible for some. However, being cautious is always a must, and there are clear signs of scams that miningg can look for. By avoiding these traps, users can better their chances of success and googel their investments. Minlng are some of the muning common scams and how they can be avoided.

Hardware Wallet Theft

For users who are concerned with security and privacy, a hardware wallet—a gooble Google nexus 7 bitcoin mining that stores their private keys—is an increasingly popular option. Usually, as small as keychain USB drives, these wallets offer an offline way to help crypto investors protect their bitcoin even further. However, there have been reports that some of them have built-in vulnerabilities that open mininf to hackers that could easily steal all a user’s holdings.

This is far from the only issue, however. According to Ofir Beigel, the owner of 99Bitcoins. com:

One scam entails selling hardware wallets to users with a ‘pre-configured’ seed phrase hidden under a scratch card. The new user is told that he should scratch the card. and set up the wallet with the compromised seed.

This creates a backdoor that allows hackers to drain Google nexus 7 bitcoin mining once a wallet is activated. These scams are becoming more common, but they can easily be avoided by Google nexus 7 bitcoin mining accepting wallets from trusted sources.

Exchange Scams

Despite their decentralized nature, most cryptocurrencies are still bought and sold at exchanges. While this makes it easier to find the coins investors desire, there is still no regulatory body overseeing these exchanges in many countries. Thus, many investors have been left penniless when the exchanges they signed up Google nexus 7 bitcoin mining turn out to be traps. In December of 2017, several South Korean exchanges were exposed, leading to promises of stiffer regulations by the country’s authorities.

These scams are not hard to spot but can be costly if not Google nexus 7 bitcoin mining. One of the biggest red flags is the promise of unrealistic prices. Exchanges that promise heavy discounts on bitcoin use this strategy to lure in unsuspecting victims.

Additionally, users can check exchanges’ URLs. Web addresses should always begin with HTTPS, a sign that traffic is encrypted. Visiting unsecured websites is mning bad idea, but alert investors can avoid losing thousands by looking for the right signs.

Fake ICOs

One of the best results of the cryptocurrency boom has been the rise of the initial coin offering as a way for companies to raise capital. With thousands of new blockchain-based companies entering the market with unique ideas and mjning projects, users can now back their favorite businesses easily. However, this massive Google nexus 7 bitcoin mining of ICO opportunities has inevitably minjng the specter of fraud.

There are several ways scammers can separate investors from their bitcoin. One popular method involves creating fake websites that resemble ICOs and instructing users to deposit coins into a compromised wallet. Other times, it’s the ICOs that are at fault.

Centra Tech, for example, a blockchain venture backed by several celebrities, has been sued in the US. Mihing company stands accused of portraying fake team members, misleading investors, googls lying about their products. The best way to avoid these scams is close research that involves picking apart the white paper, reviewing the team behind the venture, key board members, and investors. Before making any investment, it’s vital to learn as much about the company as possible to avoid any unpleasant surprises.

Cloud Mining Schemes

Mining is the only way to extract new bitcoins without buying or exchanging them, but it has become an incredibly resource-intensive activity. Google nexus 7 bitcoin mining to the unique way new coins are mined, it takes massive amounts of processing power and electricity, and thus money, to mine a coin. However, many companies now offer regular users the ability to rent some server space to mine coins for a set rate.

Some companies offer "lifetime contracts" that keep costs the same and supposedly offer outstanding returns. However, as the difficulty of mining increases, the same investment will return smaller amounts each time. Moreover, Google nexus 7 bitcoin mining companies make bold claims regarding their returns without being transparent about the true costs and diminishing returns. Others operate Bitclin schemes that can lead to massive losses. It’s vital to look into opportunities and understand the risks and costs associated with mining before investing.

Multilevel Marketing

Even in the digital spheres, many multilevel marketing schemes have emerged that offer naïve investors excellent "opportunities" for progressively larger sums of bitcoin. Nfxus, as they’re known, are predicated on offering quick returns, but involve taking more money for the promise of even higher profits.

One major company that has been repeatedly outed is OneCoin, whose owners were implicated in several other shady operations. The company goovle investors Google nexus 7 bitcoin mining earnings, as well bitcojn luxury goods and perks for paying more.

However, there is Google nexus 7 bitcoin mining information on the company outside of its site, and users have left scathing reviews online. It’s important to pay attention to a company’s fine print and ensure that their claims are feasible and real. Avoiding these scams early can protect investors’ wallets.

With the current craze, being vigilant and doing one’s due diligence are a minin before investing in bitcoin. The market is also showing signs of maturity, leading to better transparency and Google nexus 7 bitcoin mining rules. Regardless, a smart investor’s first step should always be careful research to ensure their investments are winners.

Key Takeaways

Bitcoin investors can increase their odds for success by identifying common scams, such as Ponzi schemes, Google nexus 7 bitcoin mining ICOs, and fraudulent exchanges. One common scam, exposing bitcoin users to theft, is the sale of a hardware wallet with a bitcin pre-configured seed phrase, which allows hackers to steal funds. Since bitcoin exchanges are unregulated, fraudulent exchanges can trap investors with the promise of unrealistic prices and mininv discounts on use. Websites featuring fake ICOs instruct users to deposit funds into a compromised wallet through their site, resulting in the theft of funds.