Day: March 2, 2018

You asked for IOTA, we did it ?

In separate reports, security firms have confirmed a massive uptick in websites running mining software both purposely and without their knowledge.

Sites Looking to Boost Revenue

The security vendor Cyren monitored half a million websites over the period of September 2017 through January 2018 finding a 725% increase in domains running mining scripts, with half of that increase happening in just the last two months of 2017.

The value spike in cryptocurrency during the bull run in late 2017 is being singled out as the main cause of the huge increase in websites hosting mining software. Monero, the most widely mined token today, shot up over 250% in price over the four-month time period.

Website operators have looked to mining as a way to supplement advertising income which has been dropping steadily as more and more people install Adblock software on their computers or switch to Facebook.

“Most of the sites we’ve seen are not in the top 10,000 sites globally, but there are instances of top 10,000 sites.” Reported Tinna Thuridur Sigurdardottir a malware analyst at Cyren when talking about the companies findings.

Cryptocurrency miners are also extremely easy to install. For some types it can be as simple as inserting a couple lines of JavaScript into the websites HTML code. It is also that easy for cyber-criminals to install it on unsuspecting user’s machines.

Coinhive’s Monero miner is by far the most prominent in-browser mining software in use. Monero itself is a legitimate token but as the price has gone up hackers have quietly installed the software on everything from government computers to WordPress sites according to Cyrens security report.

Hackers Attack IoT Devices

It’s not only computers that are being attacked though, all manner of smart devices from phones to fridges can be hijacked to mine cryptocurrencies.

Czech based cybersecurity firm Avast ran a demonstration last Wednesday at the Mobile World Congress in Barcelona, Spain, which showed how hackers could make $1,000 every four days by hijacking 15,000 devices.

The demonstration could not reach 15,000 “internet of things” (IoT) devices but based on the model it showed how easily hackers could breach and install mining software through a network. To put the numbers into perspective there are an estimated 8.4 billion IoT devices today but in just two years that number is expected to reach 20 billion.

“This ubiquity of devices combined with the fact they are so easy to attack makes them an attractive target,”

Ondrej Vlcek, the chief technology officer at Avast, told CNBC Wednesday.

The reason that Monero is so readily associated with these types of mining attacks is that the coin is regarded as the most securely anonymous and untraceable among cryptocurrencies and therefore has become the favorite among black hats the world over.

The post Massive Increase in Mining Malware Reported by Security Firms appeared first on NewsBTC.

Key Highlights

• ADA price failed to move above the $0.3330 resistance and declined against the US Dollar (tethered).
• There was a break below a major bullish trend line with support at $0.3200 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
• On the upside, there is a connecting bearish trend line forming with resistance at $0.3060 on the same chart.

Cardano price is facing a lot of sell offers against the US Dollar and Bitcoin. ADA/USD remains at a risk of more losses below the $0.2850 support level.

Cardano Price Upside Hurdle

There was a minor upside move above the $0.3200 level this week in ADA price against the US Dollar. The price traded above the $0.3300 level, but it could move above the $0.3335 resistance level. The stated $0.3330 zone acted as a resistance on many occasions, and it prevented further upsides on more time. A fresh downside move was initiated and the price declined below $0.3200 and the 100 hourly simple moving average.

During the downside move, there was a break below a major bullish trend line with support at $0.3200 on the hourly chart of the ADA/USD pair. The pair traded as low as $0.2827 and it is currently consolidating. The current wave is below the 50% Fib retracement level of the last upside from the $0.2827 low to $0.3130 high. However, the $0.2900 and $0.2800 levels are acting as supports. On the upside, there is a connecting bearish trend line forming with resistance at $0.3060.

As long as the price is below the $0.3100 level, it remains at a risk of more declines. Below $0.2800, the price may move towards the $0.2500 level. On the upside, above $0.3100, the price could retest the all-important $0.3335 resistance.

Hourly MACD – The MACD for ADA/USD is back in the bearish zone.

Hourly RSI – The RSI for ADA/USD is just below the 50 level.

Major Support Level – $0.2900

Major Resistance Level – $0.3100

 

Charts courtesy – Trading View

The post Cardano Price Technical Analysis – ADA/USD Remains at Risk appeared first on NewsBTC.