cryptocurrency

Changes to a major rival of Bitcoin have reduced energy use by 99 percent. The drop in computer processing for Ethereum has been likened to the amount of electricity used by a "mid-size country." The change has come after the Ethereum blockchain ... switched from proof-of-work to proof-of-stake, a sentence that makes little sense to most normal people. To break it down, a blockchain is a digital list of transactions. The key is that it doesn't exist as a single copy but rather multiple copies across all the computers of all users. In theory at least, this means it can't be edited or falsified ... (view more)

The Department of Justice has found $3.36 billion of stolen money in a popcorn tin. But more than $2 billion of it no longer exists. It's not a case of corrupt law enforcement, but rather a spectacular example of the bizarre world of cryptocurrency. ... It raises head scratching questions about what money really is in 2022. The money was seized in a raid of the home of James Zhong. He's now admitted to stealing it in a hacking attack on the controversial online marketplace Silk Road. That's a site where goods and services, many of them illegal, were bought and sold using cryptocurrency. Bogus ... (view more)

The Indian government plans to outlaw cryptocurrencies such as Bitcoin. The measure is expected to become law, though it's unclear if it will be enforceable in practice. Politicians in the country have long been hostile to cryptocurrencies, which ... use blockchain technology. That's where all transactions are recorded on a digital "ledger" which exists as multiple copies across the Internet, removing any central control. India's government previously banned "real world" financial institutions from providing any services to cryptocurrency operators, for example in exchanging the virtual ... (view more)

A malicious network of 500,000 computers used to spread malware around the globe has been taken over by do-gooders in an apparent hijack meant to foil cyber criminals. Victims of the botnet have not only found the stealth malware removed from their ... system, but are also receiving an on screen warning to update their computers. It appears the malware creators are themselves the victim of a hack attack by an online vigilante. Phorpiex Botnet a Decade Old, 500k Strong The malware concerned is distributed through the Phorpiex botnet, which has been operating for nearly 10 years. A botnet is a ... (view more)

At least eight apps in the official Microsoft Store were secretly designed to use a computer's resources without permission. It undermines Microsoft's efforts to promote the store as a "safe source of software." In the past few years, Microsoft has ... heavily pushed the idea of Windows users getting software from an app store - similar to the way mobile devices work - rather than the more traditional method of getting programs from a third-party sources and installing them directly to the PC or smartphone / tablet. There's even a special 'S' mode for Windows 10 that only allows the ... (view more)

Firefox is getting a series of updates to boost performance, privacy and usability. Unwanted tracking tools and browser hijackers are among the targets of security updates. Two of the biggest measures deal with websites that track user activity ... online, potentially to make site content more relevant, but more commonly to deliver targeted advertising. Version 63 of Firefox, due in September, will by default block ad trackers if they take a particularly long time to load, in turn making pages slow to appear. This setting is purely to do with the load time of the tracker rather than what it ... (view more)

Samsung Provokes Debate with Claims that Smartphones Are The Most Secure for Cryptocurrencies Last month, leading Samsung author Joel Snyder penned a blog post in which he made the bold assertion that smartphones encompass the best security for ... owning, trading and managing cryptocurrency. He put this down to the Trusted Execution Environments (TEEs) in which smartphones, and particularly those developed by Samsung, operate. A trusted execution environment (TEE) is a secure area of a processor found on smartphones (not PCs), originally developed in 2010 by Open Mobile Terminal Platform ... (view more)

Google is to ban several categories of apps from its app store. They include so-called "cryptomining" apps that can suck up a resources from a device for somebody else's financial benefits. The changes come in the latest update of the Play Store ... Developer Policy. The relevant apps will no longer be available through the official Play Store, meaning that although users can still install them, they'll get much less prominence and exposure. The ban is specifically on apps that use a device's processor for mining cryptocurrencies. In very simple terms, mining involves computers racing to solve a ... (view more)

Google is banning Chrome browser tools that harness a computer's power to 'mine' virtual online currencies for a third party. It seems Google gave up trying to distinguish between different levels of legitimacy in such set-ups. The whole concept of ... "cryptomining" using a web browser may seem baffling to many users. In the simplest terms, the cryptomining program could automatically load when visiting a particular web page or would always remain active (if it was through a browser extension). The users' computer would then "mine" (using mathematical equations) until a ... (view more)

Visitors to more than 5,000 websites had their computers hijacked to earn money for scammers. But the attack would have earned them less than $25 - and they aren't getting paid anyway. The attack involved compromising screen reader software called ... BrowseAloud. Websites can add the software to their site to make it easier for visitors with vision problems to browse the pages. Because the software is so widely used, compromising it was an effective way to reach a large number of computers - regardless of whether the owners needed to use a screen reader. The software is particularly popular ... (view more)