More Than Twenty People Arrested For Cryptojacking In China
Hey Ninjas, It’s no news that there has been a lot of hacks in the crypto world. We have heard many cases of people losing their money in the short time they venture into Cryptocurrency. Newbie problems? Well, you gotta learn in a hard way these days. You must have heard of terms like Cyber hacking, Back Door, DDoS, Dictionary attack, phishing and many more. But have you heard of Cryptojacking? Well, you are about to learn something new now.
No matter the industry, no matter the tech, swindlers will adapt
Cryptojacking is a process whereby a computer’s processing power is being used for mining without the owner's consent. Are you surprised? Well, don't be.
China has a strong effect on cryptocurrency. Whenever there is a major news on Crypto, be it positive or negative you can be sure that this will cause a change in the price of Bitcoin. Well, I cannot ascertain that this is a major cause of bearish behavior by Bitcoin. However it is assurabley one factor that we can consider and input into our models of describing the current market behavior.
There have been reports that roughly about twenty people have been apprehended in Cryptojacking case that is affecting over one million computers in China.
Chinese security firms resisting the illicit use
This arrest was made possible by Tencent security team after they observed and alerted Weifang City Public Security Bureau about a Trojan horse mining script that was hidden in freely downloadable plugins that are programmed to consume user’s computers power below 50 per cent without their consent.
The best practice Ninjas is to ensure that whenever you are not sure of some certain things online please don’t click. Again, when you are not using your personal computer it is advised you shut it down so no one will be able to control your system offline.
A process of legitimization of this practice through private development?
Perhaps the recent acquisition from Bitmain of the Opera operating systems is part of a larger motion towards the development of a new type of open form of mining BTC, or other currencies, on the systems of independent consumers.