Tag Archives: Cryptocurrency

PS4 Consoles Now Used To Mine Cryptocurrency?

PS4 Consoles Now Used To Mine Cryptocurrency?

Is it possible that cryptocurrency miners are now using Sony PS4 consoles to mine Bitcoin or Ethereum?

Take a look at the viral photo, and tell us what you think!

 

PS4 Consoles Now Used To Mine Cryptocurrency?

Cryptocurrency miners have turned the gaming world upside down, buying up graphics cards and even gaming laptops in bulk. As long as it has a GPU, they are snatching it up!

But their demand for more computing power does not seem to be sated, and it appears that they may have turned their attention to PS4 consoles!

Take a look at this viral photo of a very ghetto-looking mining rig made up of sixteen PS4 Slim consoles.

 

How Much Money Can This PS4 Mining Rig Make?

We have no idea if it’s actually running, or just a work in progress though, because we never heard of anyone actually mining cryptocurrency on the PS4.

The PS4 and PS4 Slim use a custom AMD Radeon 7970M GPU, with 18 compute units and 8 GB of GDDR5 memory with 176 GB/s of memory bandwidth.

It is roughly 20% slower than the AMD Radeon 7970M mobile GPU, but cryptomining is less about processing power, and memory bandwidth.

So let’s just call PS4 Slim equivalent to the  Radeon 7970M for mining purposes, which delivers a hash rate of about 8.35 H/s.

Each PS4 console would be fast enough to generate 0.00013896 BTC worth US$7.62 per month.

And that 16-console PS4 mining rig above would generate about 0.00222336 BTC worth US$121.92 per month.

Even if they are stealing electricity, that’s really not a lot of profit, to be honest…

 

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Cybercafe Converts RTX 3080 PCs Into Cryptomining Rigs!

Take a look at why this cybercafe converted their GeForce RTX 3080 gaming PCs into cryptomining rigs!

 

Cybercafe Converts RTX 3080 PCs Into Cryptomining Rigs!

The COVID-19 pandemic has decimated the cybercafe industry, with many closing down and selling their gaming PCs and accessories.

However, this Vietnamese cybercafe did something different – they began converting their GeForce RTX 3080 gaming PCs into cryptomining rigs!

The Star Gaming cybercafe in Ho Chi Minh City showed how they were transforming their business due to the COVID-19 pandemic, converting their gaming PCs into cryptomining rigs.

Instead of hosting gamers, the cybercafe is now hosting a slew of new cryptomining rigs.

It is possible that they are also building completely new cryptomining rigs. In this picture, you can see that each rig holds at least eight GeForce RTX 3080 graphics cards.

 

How Much Money Can Each RTX 3080 Cryptomining Rig Make?

Just how much money can this cybercafe make from their RTX 3080 cryptomining rig?

Officially, GeForce RTX 3080 cards start at $699, but due to the shortage of cards, they are now selling for about $1,199 each.

So eight of them would cost approximately $9,592. Let’s call it a flat $10,000 for the whole 8-card rig, plus power supply.

The average commercial electricity rate in Vietnam is VND 2,666 per kWh (about US$0.12 per kWh). So electricity should cost about $225 per month. Let’s make that $300 per month (+33%) to account for cooling costs.

As of 21 February 2021, each GeForce RTX 3080 has a hash rate of 86.5 MH/s using the Ethash (Phoenix) algorithm, which should generate approximately 0.18100503 ETH worth US$361 every month.

So each 8-card rig should generate a net profit of US$61 per month or US$732 per year. That doesn’t sound like much, but it’s a pretty decent ROI of 7.3% per annum.

It would certainly be much better than operating a cybercafe with little to no customers due to lockdown / biosecurity measures.

In fact, their costs would be very much lower if they are converting their existing RTX 3080 gaming PCs into mining rigs, with significantly higher ROI.

This is, arguably, a better solution for cybercafes to ride out the COVID-19 pandemic, than to give up and sell out.

 

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ZOTAC RTX 3070 Cryptomining : Why The Outrage?

Don’t be outraged about the ZOTAC GeForce RTX 3070 cryptomining rig.

The truth is they are just being honest about who their biggest clients really are.

 

Why Gamers Are Outraged By ZOTAC RTX 3070 Mining Rig?

It’s no secret that graphics card brands LOVE cryptominers who are buying up their cards by the pallets.

ZOTAC probably wanted to send them some love when they tweeted this picture of a cryptomining rig built using eight ZOTAC Gaming GeForce RTX 3070 White graphics cards.

What they probably should not have done was to use the #PcGaming #Gaming #Gamers #PcMasterRace hashtags, because really… what does cryptomining have to do with the PC?

Gamers have very little love for cryptominers, who are at least partly to blame for the shortage and high prices of graphics cards.

The ZOTAC tweet naturally triggered their outrage, because it was actual proof that ZOTAC would love to sell even more of their limited supply of graphics cards to cryptominers.

But the truth is – ZOTAC was finally being honest about who their biggest clients really were. Not gamers, for sure!

After all, which gamer will ever buy EIGHT ZOTAC GeForce RTX 3070 graphics cards?

 

Why ZOTAC Loves Cryptominers Buying Their RTX 3070 Cards

Let’s be frank – cryptominers are far more willing to pay top dollar for graphics cards, than gamers.

Thanks to high cryptocurrency prices, they can still make a ton of money even if they pay insane prices for these graphics cards.

And they don’t just buy one card for their gaming pleasure. They buy these cards by the dozens and hundreds! And why not?

This mining rig, which uses 78 GeForce RTX 3080 graphics cards, generates a net profit in excess of US$128,000 per year!

Recommended : 78-Card GeForce RTX 3080 Mining Rig Powered Up!

The profitability of cryptomining has gone up so much that Chinese cryptominers have resorted to buying up hundreds of GeForce RTX 3060 gaming laptops instead!

This Chinese mining farm is being built using 900 GeForce RTX 3060 gaming laptops, and have the potential to generate over US$2.3 million in profit every year!

Recommended : This RTX Laptop Mining Farm Could Make $3.5 Million / Year!

So, don’t be so mad at ZOTAC. At least they had the guts to admit their preference for cryptominers.

The other brands are the same. They just don’t have the guts to admit it, for fear of losing support from their fans.

The secret to having your cake, and eating it too? Keep quiet about cryptomining, and promote fanboyism to keep the hoi polloi loyal to the brand.

It’s all about the money, guys…

 

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This RTX Laptop Mining Farm Could Make $3.5 Million / Year!

Take a look at this crypto-mining farm that could make $3.5 million a year using just 900 NVIDIA GeForce RTX 3060 gaming laptops!

 

Hundreds Of RTX Laptops Used In Crypto Mining Farms!

Not only gamers are affected by the limited supply of graphics cards in the market. So are cryptominers!

Chinese cryptominers now have to resort to buying up whatever GeForce RTX gaming laptops they can find, literally hundreds of them!

Instead of ASIC miners or GPU mining rigs, they are now powering their cryptomining operations with RTX gaming laptops!

We earlier highlighted the new trend of using RTX gaming laptops to mine cryptocurrency. It looks as this is more extensive that we first thought.

A Weibo blogger called 神鱼BTCer just shared even more pictures of RTX laptop-based mining operations, big and small.

Many appear to be pretty ghetto, placing the laptops in a kind of “tent mode” for better cooling, wherever there’s space – on tables, chairs or the floor.

But he also showed a seriously big crypto-mining farm being built using these GeForce RTX 30-series gaming laptops.

He even shared a short clip (part of the video we posted above), showing the cryptocurrency mining farm partially operational, with more being set-up.

There are 10 laptops per shelf, with each shelving unit capable of accommodating 60 laptops.

While not particularly large, this cryptocurrency mining farm has at least 15 visible shelving units, so that’s a total of 900 RTX gaming laptops when it’s fully operational.

Currently, it’s only partially complete, with about 200 or so laptops running, with many boxes of laptops left to open and setup.

 

How Much Money Can This RTX Laptop Mining Farm Make?

We had earlier shared about how a Bilibili content creator used an RTX 3060 laptop to mine 0.00053009 ETH while she sipped her coffee at Starbucks for 2 hours.

Based on her experience, we can guesstimate that the average GeForce RTX 3060 laptop will be able to produce :

  • 0.000265045 ETH per hour
  • 0.00636108 ETH per day
  • 0.1908324 ETH per month (30 days)
  • 2.3217942 ETH per year

Chinese electricity costs about RMB 0.545 (US$0.084) per kWh. Assuming each laptop uses about 250 watts of power (including whatever external fans they may be using), that works out to about RMB 1,200 or US$186 per year.

As of 11 February 2021, Ethereum is priced at US$1740. So here’s roughly how much this cryptocurrency mining farm would make, at that price :

  • 100 laptops : $385,392 per year
  • 200 laptops : $770,784 per year
  • 300 laptops : $1,156,177 per year
  • 400 laptops : $1,541,569 per year
  • 500 laptops : $1,926,961 per year
  • 600 laptops : $2,312,353 per year
  • 700 laptops : $2,697,745 per year
  • 800 laptops : $3,083,138 per year
  • 900 laptops : $3,468,530 per year

So there you have it – this small cryptocurrency mining operation can potentially make almost US$ 3.5 million in a single year.

But what’s the ROI, you say?

The Chinese OEM, Hasee, offers a GeForce RTX 3060 gaming laptop with a starting price of just RMB 6,499 (approximately RM4,089 / US$1,005 / £732 / A$1,309 / S$1,340).

And the video shows that this mining operation is using the same, or similar, Hasee RTX gaming laptops.

Let’s say they paid a 20% scalper’s premium, and purchased all 900 Hasee RTX 3060 laptops for a cool US$1,085,400.

Let’s further round that up to US$1.1 million for miscellaneous costs – shelving units, lights, fans, etc. including US$500 per month for rental.

Based on those assumptions, their net profit for the 900-laptop mining farm would be US$2,368,530 per year, at current prices.

That’s an incredibly high ROI of 17.9% per month, which is 67% higher ROI than the 78-card GeForce RTX 3080 mining rig!

After recovering the cost of the entire mining farm ($1.1 million) in just over 3 months, everything else they make after that is pure profit (after deducting rental and electricity costs), unless they are stealing the electricity!

With such great ROI, you can count on cryptocurrency miners to buy up ALL the GeForce RTX 30 series laptops they can get their hands on!

 

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Illegal Bitcoin Cryptomining Operation Seized!

The Pahang police and TNB SEAL team just busted and seized an illegal cryptomining operation, and arrested a suspect there!

 

Illegal Bitcoin Cryptomining Operation Seized!

On 9 February 2021, the Pahang police D7 JSJ team and the TNB SEAL team (seriously, that’s what they call themselves) busted and seized an illegal Bitcoin cryptomining operation.

The Bitcoin cryptomining operation occupied two shoplots in a three storey building at Batu 3, Jalan Gambang in Kuantan, Pahang.

The police also arrested a suspect who was found at the cryptomining operation.

According to the Pahang Deputy Chief of Police Dato’ Mohd Yusri bin Hj. Hassan Basri, the suspect had illegally tapped into the electricity at both premises, and will be investigated under :

  • Section 379 of the Penal Code for stealing electricity
  • Section 427 of the Penal Code for committing treason

We should point out that cryptomining is not illegal in Malaysia, whether it’s for Bitcoin or any other cryptocurrency.

What’s illegal is the theft of electricity to run such cryptomining operations for maximum profit.

That’s why the TNB SEAL team was involved, and not just the police.

 

More Pictures From The Illegal Cryptomining Operation Raid

 

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GeForce RTX 3060 Laptop Mining : Over 30% ROI?!

Here is the new craze in cryptocurrency mining – GeForce RTX 3060 laptop mining rigs!

Take a look at new laptop mining rigs in China, and find out how much they can make!

 

GeForce RTX 3060 Laptop Mining : The New Craze!

Supplies of desktop graphics cards are low, and prices are sky-high, and here’s more bad news – miners are coming for the laptops too!

A Weibo blogger called 神鱼BTCer just shared photos of different GeForce RTX 30 series laptop mining rigs!

BTCer claims they are all “home-based”, but we have no idea whether they are his, or from different cryptocurrency mining operations.

But in a response to a question, he said that the best way to keep them cool is by putting them in a sort of “tent mode”.

This picture shows four stacks of GeForce RTX 3060 laptops made by Chinese OEM Hasee, powered on (you can see the green light).

Hasee offers a GeForce RTX 3060 gaming laptop that has a starting price of just RMB 6,499 (approximately RM4,089 / US$1,005 / £732 / A$1,309 / S$1,340).

These twenty Hasee GeForce RTX 30 series gaming laptops would cost just over US$20,000.

This seems like a waste of power – leaving their displays turned on. But leaving the display up would definitely improve cooling.

 

How Much Money Can RTX 3060 Laptop Mining Rigs Make?

A Bilibili content creator Fish Pond f2pool demonstrated how fast someone with a GeForce RTX 3060 laptop can “mine” cryptocurrency.

She plugged in her GeForce RTX 3060 laptop into a power socket at Starbucks, and mined 0.00053009 ETH over 2 hours while she sipped her coffee.

On 5 February 2021, Ethereum closed at US$1,680.497, so she mined enough during her coffee break to make US$0.89 or RMB 5.76.

Not quite enough to pay for her coffee (about RMB 28), but at least the electricity is FREE!

Based on her experience, we can guesstimate that the average GeForce RTX 3060 laptop will be able to produce :

  • 0.000265045 ETH per hour
  • 0.00636108 ETH per day
  • 0.1908324 ETH per month (30 days)
  • 2.3217942 ETH per year

So that mining rig with 20 Hasee laptops you saw up there could make, at current prices, about :

  • $8.908 per hour
  • $213.80 per day
  • $6,413.87 per month (30 days)
  • $78,035 per year

Chinese electricity costs about RMB 0.545 (US$0.084) per kWh.

Assuming each laptop uses about 250 watts of power (including whatever external fans he may have), that works out to about US$3,679.20 per year.

So his net profit for the 20-laptop mining rig would be US$74,356 per year, at current prices.

That’s an incredible ROI of 30.8% per month, which means he will recover the cost of the entire rig ($20,100) in just under 3.5 months!

This is actually 2.9X higher ROI than the 78-card GeForce RTX 3080 mining rig!

With such great ROI, you can count on cryptocurrency miners to buy up hoards of GeForce RTX 30 series laptops!

 

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78-Card GeForce RTX 3080 Mining Rig Powered Up!

The mega crypto-mining rig, built using 78 GeForce RTX 3080 graphics cards, has powered up!

Check it out, and find out why crypto-miners are buying graphics cards by the pallets!

 

78-Card GeForce RTX 3080 Mining Rig Almost Operational!

You may have seen Simon Byrne’s crypto-mining rig, that uses 78 GeForce RTX 3080 graphics cards arranged in an array of 13 x 6 cards.

That 78-card RTX 3080 mining rig, which he calls Bertha 2, is almost operational. And he’s keeping it cool with 120 fans, with RGB, of course! It is said – RGB makes thing go faster? 😉

In this picture, you can see most of the GeForce RTX 3080 graphics cards powered up. When fully operational, it should deliver 6.5 gigahashes per second!

In case you are wondering what Berta – his first-generation mining rig – looks like, here is a photo he shared :

He created Bertha 1 using 130 Zotac GeForce RTX 1080 Ti graphics cards, in January 2018 – 3 years ago!

 

How Much Money Can This RTX 3080 Crypto Mining Rig Make?

Just how much money can Simon make from this crypto-mining rig?

Officially, RTX 3080 cards start at $699, but due to the shortage of cards, they are now selling for about $1,199 each.

So the cards in this rig alone would cost approximately $93,522. Let’s call it a flat $100,000 for the whole rig, plus power supplies.

The average commercial electricity rate in Las Vegas (where he’s based) is 8.43 cents per kWh. So electricity should cost about $1444 per month. Let’s make that $2166 per month (+50%) to account for cooling costs.

Each GeForce RTX 3080 has a hash rate of 83.57 MH/s using the Ethash (Phoenix) algorithm, which should generate approximately 0.22236870 ETH worth US$165 every month.

So the total rig of 78 cards should generate 17.3447586 ETH worth $12,840 per month. Deducting electricity costs, that’s a net profit of $10,674 per month or $128,088 per year!

That’s an incredible ROI of 10.7% per month, which means he recovers the cost of the entire rig in just under 9.5 months.

No wonder crypto miners are buying up graphics cards by the pallets… at the expense of PC gamers all around the world!

Simon assured gamers that he doesn’t buy his cards from the regular retail supply chain. However, the large-scale purchase of graphics cards for crypto-mining is a major cause of graphics card shortage across the world.

 

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12-Card GeForce RTX 3090 Gigahash Mining Rig!

Take a look at this crypto-mining rig that uses just a dozen GeForce RTX 3090 graphics cards to generate over a gigahash per second!

Find out how much he stands to make from this mining rig!

 

12-Card GeForce RTX 3090 Gigahash Mining Rig!

It seems easy for crypto-miners to get hold of the GeForce RTX 3090 graphics card in bulk.

A crypto-miner is building a compact mining rig that uses just a dozen GeForce RTX 3090 graphics cards to generate over a gigahash per second!

Guntis Vitolins, who recently lost 500 graphics cards in a fire, is using a dozen INNO3D GeForce RTX 3090 graphics cards, powered by four EVGA SuperNOVA G3 1000 watt power supplies.

 

How Much Money Can This RTX 3090 Crypto Mining Rig Make?

Just how much money can Guntis make from this crypto-mining rig?

Officially, RTX 3090 cards start at US$1,499, but due to the shortage of cards, they are now selling for about US$2,450 each. The EVGA SuperNOVA G3 1000 PSU each cost US$309.

So the twelve cards would cost approximately US$29,400, while the four EVGA PSUs would cost US$1,236. Let’s call it a flat US$31,000 for the whole rig.

The average commercial electricity rate in Ireland (where he’s based) is about €0.2413 per kWh. So electricity should cost about €800 or US$965 per month. Let’s make that US$1450 per month (+50%) to account for cooling costs.

Each GeForce RTX 3090 has a hash rate of 104.48 MH/s using the Ethash (Phoenix) algorithm, which should generate approximately 0.23401064 ETH worth US$312.53 every month.

So the total rig of 12 cards should generate 2.80812768 ETH worth US$3,750 per month. Deducting electricity costs, that’s a net profit of $2,300 per month or $27,600 per year!

That’s a high ROI of 7.4% per month, which means he recovers the cost of the entire rig in about 13.5 months.

This is about 31% lower ROI than the 78-card mining rig that uses the much cheaper GeForce RTX 3080, which pays for itself in just 9.5 months!

No wonder crypto miners are buying up graphics cards by the pallets… at the expense of PC gamers all around the world!

 

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500 Radeon RX 5700 Cards Destroyed In Fire!

500 brand new AMD Radeon RX 5700 graphics cards meant for crypto-currency mining just burned up in a fire!

 

500 Radeon RX 5700 Cards Destroyed In Fire!

On 27 January 2021, Guntis Vitolins shared pictures of 500 Radeon RX 5700 graphics cards that were just destroyed in a fire.

This is how looks 500x RX 5700 burned $eth

 

RX 5700 Fire Started In Welding Accident!

But here is where it takes a strange twist. It was not an actual “mining accident”, as we might expect.

A welding accident apparently started the fire at this warehouse, where he was building his mining rigs.

Some 500 of his Radeon RX 5700 graphics cards – all brand new, in boxes – were destroyed in the fire, and firefighting operation.

Fortunately for him, his mining rigs survived, and just needed to dry out from the water.

Another crypto-miner estimated that the 500 destroyed Radeon RX 5700 cards would cost about US$300,000.

But you would be hard-pressed to find 500 of these cards on Amazon!

 

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GeForce RTX 3080 Mining Rig Inside A BMW i8 Hybrid!

Take a look at this mining rig with SIX GeForce RTX 3080 graphics cards, in the trunk of a BMW i8 hybrid sports car!

 

GeForce RTX 3080 Mining Rig Inside A BMW i8 Hybrid!

Simon Byrne is at it again – trolling gamers with his GeForce RTX 3080 mining rigs!

This time, he created a mining rig with six GeForce RTX 3080 graphics cards, right in the trunk of a BMW i8 hybrid sports car.

The only practical use for the trunk of an i8 is to home a 6 x RTX 3080 mining rig.

*no gamers were harmed in the making of this photo.

 

BMW i8 RTX 3080 Mining Rig : Trolling Gamers

As impressive as it looks, this really isn’t a practical mining operation. He probably created it just to troll gamers who are finding it hard to get decently-priced graphics cards.

World’s Most Expensive Mining Case

The BMW i8 has a starting MSRP of US$147,500 in Nevada. That would make it the world’s most expensive mining case.

Power Consumption

The six GeForce RTX 3080 graphics cards alone would consume 2 kilowatts of power at full power, with the entire mining rig using some 2.5 kW of power.

We can only see a single EVGA SuperNOVA 1600 T2 PSU, so he’s either underclocking the cards, or there is another PSU out-of-sight.

The BMW i8 has a 11.6 kWh lithium-ion battery, with a usable capacity of 8.7 kWh. That’s only enough to run the mining rig for 4-5 hours.

BMW i8 battery pack

Thermal Output

Of course, you can plug in the i8 or keep its engine running, but the mining rig still generates a tremendous amount of heat.

Even in a cold environment (it’s about 5°C in Nevada in January), the BMW i8’s rear hatch must be kept open to avoid the cards from overheating.

Invitation To Smash & Grab!

And that’s just inviting theft or a hold-up. Especially when these GeForce RTX 3080 cards command premium prices all over the world!

This is definitely an impressive showcase, but Simon is no doubt making the bulk of his cryptocurrency using serious rigs like this 78-card mining rig we showed earlier.

Recommended : 78-Card RTX 3080 Mining Rig Almost Operational!

 

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Crypto Mining Rig With 78 GeForce RTX 3080 Cards!

Take a look at this crypto-mining rig powered by 78 GeForce RTX 3080 graphics cards, and find out why crypto miners are buying graphics cards by the pallets!

 

Crypto Mining Rig With 78 GeForce RTX 3080 Cards!

Can’t find an affordable GeForce RTX 3080 graphics card? That’s because crypto-mining is one of the reasons why there is a shortage of graphics cards worldwide.

Here is a crypto-mining rig being built by Simon Byrne, using the 78 GeForce RTX 3080 graphics cards arranged in an array of 13 x 6 cards.

With a power consumption of 300 watts per card, that’s crypto-mining rig would require at least 23.4 kilowatts of power to run, and a lot of air-conditioning to keep them cool!

Update : This GeForce RTX 3080 mining rig is almost operational!

 

How Much Money Can This RTX 3080 Crypto Mining Rig Make?

Just how much money can Simon make from this crypto-mining rig?

Officially, RTX 3080 cards start at $699, but due to the shortage of cards, they are now selling for about $1,199 each.

So the cards in this rig alone would cost approximately $93,522. Let’s call it a flat $100,000 for the whole rig, plus power supplies.

The average commercial electricity rate in Las Vegas (where he’s based) is 8.43 cents per kWh. So electricity should cost about $1444 per month. Let’s make that $2166 per month (+50%) to account for cooling costs.

Each GeForce RTX 3080 has a hash rate of 83.57 MH/s using the Ethash (Phoenix) algorithm, which should generate approximately 0.22236870 ETH worth US$165 every month.

So the total rig of 78 cards should generate 17.3447586 ETH worth $12,840 per month. Deducting electricity costs, that’s a net profit of $10,674 per month or $128,088 per year!

That’s an incredible ROI of 10.7% per month, which means he recovers the cost of the entire rig in just under 9.5 months.

No wonder crypto miners are buying up graphics cards by the pallets… at the expense of PC gamers all around the world!

 

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Bitcoin Revolution : Fake Celebrity Endorsements Exposed!

You may have seen celebrities endorsements of Bitcoin Revolution circulating on Facebook and Instagram, but they are all FAKE.

Find out why there are so many fake celebrity endorsements of Bitcoin Revolution, and how they are doing it!

 

Bitcoin Revolution : What Is It?

Bitcoin Revolution is an online “investment” scheme that people have been warning against for many years now.

They are notorious for using fake celebrity endorsements on Facebook, Instagram, etc to scam gullible people.

They have been caught using people like Kate Winslet and Hugh Jackman to former Singaporean prime minister Goh Choo Tong.

The Malta Financial Services Authority (MFSA) issued no less than two warnings about Bitcoin Revolution in January 2019 and August 2019.

Bitcoin Revolution is likely to be an international “get-rich-quick” cryptocurrency scam.

The public should therefore refrain from undertaking any business or transactions with the entity operating under the name of Bitcoin Revolution.

 

Bitcoin Revolution : Fake Celebrity Endorsements!

Take a look at just three examples of fake celebrity endorsements of Bitcoin Revolution, courtesy of Cryptovibes :

 

Bitcoin Revolution : Fake Lim Guan Eng Endorsement!

Here in Malaysia, a fake Malaysiakini article was being promoted on Facebook, with the title Lim’s Biggest Confession SHOCKED EVERYONE…

The article, designed to look like a genuine Malaysiakini article, claimed that Malaysian politician Lim Guan Eng told Nabil Ahmad on the TV show MeleTOP how he made his fortune using the Bitcoin Revolution platform.

It even claimed that Lim Guan Eng showed off how much he made, before specifically endorsing Bitcoin Revolution.

All that is FAKE. There is no such segment on MeleTOP, and no such article on Malaysiakini. Lim Guan Eng never made such an endorsement.

 

Fake Lim Guan Eng Endorsement Exposed!

How do we know this is yet another fake celebrity endorsement?

Reason #1 : That Is A Fake Art News Page

The people behind this fake endorsement created a fake Facebook page on 2 March 2020 to masquerade as the ARTnews magazine, whose genuine Facebook page was created on 13 February 2009.

Reason #2 : The Fake Article Is Hosted On Nelassa.com

The Facebook advertisement was designed to look like it will lead you to Malaysiakini, but it actually leads to a hidden page on Nelassa.com.

Nelassa itself masquerades as a new website on cell and plant biology, with articles going back to December 2019. But a quick check shows that the domain was only registered in February 2020.

Even more interestingly, the owner of this domain blocked access to his/her name and contact – always a suspicious sign!

Reason #3 : The Links Lead To SecuredSheep.com

The fake article of Lim Guan Eng endorsing Bitcoin Revolution is replete with links to Bitcoin Revolution. But if you inspect the links, they all lead to SecuredSheep.com.

Interestingly, SecuredSheep.com is also protected by the same company – Domain Protection Services, Inc.

 

Please AVOID Bitcoin Revolution

Let us repeat what the Malta Financial Services Authority (MFSA) warned in January 2019 and August 2019.

Bitcoin Revolution is likely to be an international “get-rich-quick” cryptocurrency scam.

The public should therefore refrain from undertaking any business or transactions with the entity operating under the name of Bitcoin Revolution.

 

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Microsoft : Cybersecurity Trends + How To Stay Safe In 2020!

As part of Safer Internet Day (SID), Antony Cook from Microsoft shared the key cybersecurity trends in 2020, and how we can stay safe against those dangers.

Even if we are experienced techies, it is enlightening to find out what Microsoft believes are the cybersecurity threats that we should be looking out for in 2020.

 

Microsoft : Key Cybersecurity Trends In 2020!

Cybersecurity Trend #1 : Less Ransomware But More Attacks

Ransomware has declined in recent years, dropping more than 60% from its peak. But Microsoft sees a rise in other types of cyberattacks.

Attackers have learned that ransomware attracts too much attention from law enforcement, and organisations have gotten better at backing up their data.

So hackers are moving onto other activities like cryptocurrency malware and phishing, where they can more easily profit with less attention.

Cybersecurity Trend #2 : Mining Malware Will Be Big!

Attackers are often acting for financial benefit, so they will make big bets on cryptocurrency, especially in Bitcoin.

They will focus more on mining malware that lets them use your computer to mine cryptocurrency coins without being detected.

Coin mining software is easily available, and cybercriminals have put malware into many widely-shared and used software. They are also trying to inject these malware through websites illegally streaming copyrighted content like the latest movies.

Cybersecurity Trend #3 : Embedded Threats

Attackers are now more sophisticated, targeting legitimate and trusted software supply points to deliver malware. There have been many examples of this attack vector :

  • a routine update for a tax accounting application,
  • popular freeware tools which have backdoors forcibly installed,
  • a server management software package,
  • an internet browser extension or site plugin,
  • malicious images which active scripts when clicked,
  • peer-to-peer applications

In those cases, attackers were able to change the code of legitimate software that people trust and install without hesitation, allowing them to “hitch a ride”.

This attack vector is very dangerous and frustrating, because it takes advantage of the trust that consumers and IT departments already have for legitimate software.

Cybersecurity Trend #4 : Phishing Scams

Phishing continues to be one of the most effective ways to compromise systems, because it targets human decisions and judgment.

Microsoft noted that the percentage of inbound emails that were detected as phishing messages increased 250% throughout 2018, and they expect the final figures for 2019 to show the same trend.

 

Microsoft : How To Stay Safe In 2020!

Here is a summary of what Microsoft believes we should do to stay safe online against cybersecurity threats in 2020 :

Cybersecurity Tip #1 : Practice Good Security Hygiene

  1. Keep your operating system and software updated.
  2. Turn on email and browser protections.
  3. Apply the cybersecurity configurations that your hardware and software vendors recommend.
  4. Stay away from any unfamiliar software or websites.
  5. Use only legitimate software, and not just your key applications.

Cybersecurity Tip #2 : Implement More Access Controls

System administrators should implement more access controls, using Zero Trust or at least privilege models.

This will limit hackers that successfully break into your network from accessing more than a segment.

Cybersecurity Tip #3 : 3-2-1 Backup!

Make sure you create and keep backups, and the cloud is a great tool for this.

Microsoft recommends adhering to the 3-2-1 rule – keep three backups of your data on two different storage types, with at least one backup offsite.

Cybersecurity Tip #4 : Keep Vigilant!

Even if we implement strong cybersecurity measures, we must remain vigilant, and keep an eye out for suspicious activity.

Not just system administrators, but users as well. If you see anything suspicious – report it to your IT department immediately.

It can be anything from a sudden slowdown in your computer’s performance, to strange web pages and images appearing.

 

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Kaspersky Lab Warns Of Malicious Cryptocurrency Mining!

Kaspersky Lab is warning of malicious cryptocurrency mining powered by pirated software and content. Learn more about this new online threat!

 

Kaspersky Lab Warns Of Malicious Cryptocurrency Mining!

Kaspersky Lab has warned that the global outbreak in malicious cryptocurrency mining in 2018 has increased by more than 83%5 million users were attacked online in the first three quarters of 2018 compared to 2.7 million users in 2017.

The major driver behind the malicious cryptocurrency mining was the use of unlicensed software and content.

 

Malicious Cryptocurrency Mining

Malicious cryptocurrency mining has prevailed over the main threat of ransomware in recent years. The number of  attacks had increased steadily during the first half of 2018. It peaked in March with about 1.2 million users attacked.

Kaspersky Lab experts have investigated the regulatory landscape and electricity prices in the top 10 countries targeted by crypto miners and main infection vectors for the popular malware families.

The investigation of malware families revealed that they mainly infected devices by duping users into installing pirated software and unlicensed content.

“Our analysis of the economic background of malicious crypto mining and the reasons for its widespread presence in certain regions revealed a clear correlation: the easier it is to distribute unlicensed software, the more incidents of malicious crypto miner activity were detected. In short, an activity not generally perceived as dangerous: the downloading and installation of dubious software, underpins what is arguably the biggest cyberthreat story of the year – malicious crypto mining,” notes Evgeny Lopatin, security expert at Kaspersky Lab.

Other Key Findings From The Report

  • The total number of users who encountered miners rose by more than 83% from 2,726,491 in 2017 to 5,001,414 in 2018
  • The share of miners detected increased from 5% in 2017 to 8% in 2018
  • The share of miners detected from the overall risk tool detections has risen from 9% in 2017 to 17% in 2018
  • The total number of users who encountered mobile miners also grew by over 5 times from 1,986 in 2017 to 10,242 in 2018.

 

Steps To Reduce Risk Of Infection

  • Always update software on all your devices to prevent miners from exploiting vulnerabilities.
  • Use tools that can automatically detect vulnerabilities and download and install patches.
  • For personal devices, use a reliable consumer security solution and remember to keep key features such as System Watcher switched on.
  • Don’t overlook less obvious targets such as queue management systems, POS terminals and even vending machines.
  • Use application control to track malicious activity in legitimate applications.
  • Specialized devices should be in Default Deny mode.
  • Use dedicated security solution such as Kaspersky Endpoint Security for Business
  • To protect the corporate environment, educate your employees and IT teams to keep sensitive data separate and to restrict access.

 

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Exclusive : NEM Blockchain Centre Kuala Lumpur Tour

NEM officially opened the NEM Blockchain Centre Kuala Lumpur on 3 July 2018. The new NEM Blockchain Centre will serve as a learning centre, incubator and accelerator for organisations in Asia keen to explore blockchain technology and its applications in multiple industries.

 

NEM Blockchain

Blockchain is gaining global traction in diverse industries including financial services, insurance, education, retail, telecommunications and logistics. Among its applications are automating accounting, medical and scientific records, international remittance, securities trading customer relationship management, notarisations and many more.

NEM is a blockchain platform (as well as a cryptocurrency). Written in Java and launched at the end of March 2015, NEM introduced a number of new blockchain features like Proof of Importance (POI) algorithm, multi-signature accounts, and encrypted messaging.

The NEM blockchain has already been adopted in a number of industries and services in Asia and around the world, including Appsolutely Inc., the largest rewards and loyalty programme company in the Philippines; a point-of-sale terminal for cryptocurrency for the retail industry (Pundi X) in Indonesia; and backend payment and mobile settlement solutions by Dragonfly Fintech Pte. Ltd., Singapore.

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NEM Blockchain Centre Kuala Lumpur

With almost 11,000-square-feet of space, NEM Blockchain Centre Kuala Lumpur is the largest of its kind in the region that is fully operated by a blockchain technology organisation. It will house :

  • the NEM Blockchain Innovation Lab,
  • a headquarters for research and development,
  • regional support for organisations interested in using the NEM platform within their IT infrastructures,
  • a co-working space for blockchain-related learning and knowledge-sharing events.

NEM Blockchain Centre Kuala Lumpur will allow organisations to explore how blockchain technology can help improve data transactions by enhancing speed and security at a lower cost than other current technology platforms. Malaysian organisations can leverage the NEM network and technology to develop blockchain solutions, with access to training events, service providers and technical support.

It will also serve as the headquarters for regional operations for NEM in Asia (excluding China and ANZ). The team will continue to pursue strategic alliances to expand NEM’s reach, secure deeper collaboration, and develop more blockchain hubs. US$5 million will be allocated towards supporting blockchain companies incubated in the NBC in Malaysia.

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The Symantec 2018 Cybersecurity Predictions

David Rajoo, Director of Systems Engineering, Symantec Malaysia, reveals the Symantec 2018 Cybersecurity Predictions. They will help CIOs and cybersecurity experts prepare for the onslaught of cybersecurity threats in 2018.

 

The Symantec 2018 Cybersecurity Predictions

This past year, cyber criminals caused major service disruptions around the world, using their increasing technical proficiency to break through cyber defenses. In 2018, we expect the trend to become more pronounced as these attackers will use machine learning and artificial intelligence to launch even more potent attacks.

Gear up for a busy year ahead. Incidents like the WannaCry attack, which impacted more than 200,000 computers worldwide in May, are just the warmup to a new year of more virulent malware and DDoS attacks. Meanwhile, cyber criminals are poised to step up their attacks on the millions of devices now connected to the Internet of Things both in offices and homes.

The cybersecurity landscape in 2018 is sure to surprise us in ways that we never imagined. As 2017 draws to a close, here is what you can expect over the course of the upcoming year:

 

The Symantec 2018 Cybersecurity Predictions Part 1/3

Blockchain Will Find Uses Outside Of Cryptocurrencies But Cyber criminals Will Focus On Coins and Exchanges

Blockchain is finally finding applications outside of crypto-currencies, expanding its functions in inter-bank settlements with the help of IoT gaining traction. However, these use cases are still in their infancy stage and are not the focus for most cyber criminals today.

Instead of attacking Blockchain technology itself, cyber criminals will focus on compromising coin-exchanges and users’ coin-wallets since these are the easiest targets, and provide high returns. Victims will also be tricked into installing coin-miners on their computers and mobile devices, handing their CPU and electricity over to cyber criminals.

 

Cyber criminals Will Use Artificial Intelligence (AI) & Machine Learning (ML) To Conduct Attacks

No cyber security conversation today is complete without a discussion about AI and ML. So far, these conversations have been focused on using these technologies as protection and detection mechanisms. However, this will change in the next year with AI and ML being used by cyber criminals to conduct attacks.

It is the first year where we will see AI versus AI in a cybersecurity context. Cyber criminals will use AI to attack and explore victims’ networks, which is typically the most labour-intensive part of compromise after an incursion.

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The Symantec 2018 Cybersecurity Predictions Part 2/3

Supply Chain Attacks Will Become Mainstream

Supply chain attacks have been a mainstay of the classical espionage and signals-intelligence operators, compromising upstream contractors/systems/companies and suppliers. They are proven to have a high-level of effectiveness, with nation-state actors using a mix of human intelligence to compromise the weakest link in the chain.

These attacks are moving into the cybercriminal space, becoming mainstream. With publicly available information on suppliers, contractors, partnerships and key-people, cyber criminals can find victims in the supply chain and attack the weakest link. With a number of high profile successful attacks in 2016 and 2017, cyber criminals will focus on this method in 2018.

 

File-less and File-light Malware Will Explode

2016 and 2017 have seen consistent growth in the amount of file-less and file-light malware, with attackers capitalising organizations that lack in preparation against such threats. With fewer Indicators of Compromise (IoC), use of the victims’ own tools, and complex disjointed behaviours, these threats have been harder to stop, track and defend against in many scenarios.

Like the early days of ransomware, where early success by a few cyber criminals triggered a gold-rush like mentality, more cyber criminals are now rushing to use these same techniques. Although file-less and file-light malware will still be outnumbered by orders-of-magnitude as traditional style malware, they will pose a significant threat and lead to an explosion in 2018.

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Organisations Will Still Struggle With Security-as-a-Service (SaaS) Security

Adoption of SaaS continues to grow at an exponential rate as organizations embark on digital transformation projects to drive business agility. This rate of change and adoption presents many security challenges as access control, data control, user behaviour and data encryption vary significantly between SaaS apps. While this is not new and many of the security problems are well understood, organizations will continue to struggle with all these in 2018.

Combined with new privacy and data protections laws adopted by regulators across the world, these will pose major implications in terms of penalties, and more importantly, reputational damage.

 

Organisations Will Still Struggle With Infrastructure-as-a-Service (IaaS) Security – More Breaches Due to Error, Compromise & Design

IaaS has completely changed the way organisations run their operations, offering massive benefits in agility, scalability, innovation and security. It also introduces significant risks, with simple errors that can expose massive amount of data and take down the entire system.

While security controls above the IaaS layer are customer’s responsibility, traditional controls do not map well – leading to confusion, errors and design issues with ineffective or inappropriate controls being applied, while new controls are ignored. This will lead to more breaches throughout 2018 as organizations struggle to shift their security programs to be IaaS effective.

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The Symantec 2018 Cybersecurity Predictions Part 3/3

Financial Trojans Will Still Account For More Losses Than Ransomware

Financial Trojans were some of the first pieces of malware to be monetised by cyber criminals. From simple beginnings as credential harvesting tools, they have since evolved to advanced attack frameworks that target multiple banks, and banking systems that send shadow transactions and hide their tracks. They have proven to be highly profitable for cyber criminals.

Today the move to mobile application-based banking has curtailed some of the effectiveness, so cyber criminals are now moving their attacks to these platforms. Cyber criminals’ profits from Financial Trojans is expected to grow, giving them higher gains as compared to Ransomware attacks.

 

Expensive Home Devices Will Be Held To Ransom

Ransomware has become a major problem and is one of the scourges of the modern Internet, allowing cyber criminals to reap huge profits by locking up users’ files and systems. The gold-rush mentality has not only pushed more and more cyber criminals to distribute ransomware, but also contributed to the rise of Ransomware-As-A-Service and other specializations in the cyber criminal underworld.

These specialists are now looking to expand their attack reach by exploiting the massive increase in expensive connected home devices. Smart TVs, smart toys and other smart appliances can run into thousands of dollars and users are generally not aware of the threats to these devices, making them an attractive target for cyber criminals.

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IoT Devices Will Be Hijacked and Used in DDoS Attacks

In 2017, we have seen massive DDoS attacks using hundreds of thousands of compromised IoT devices in people’s homes and workplaces to generate traffic. This is not expected to change with cyber criminals looking to exploit the poor security settings and management of home IoT devices.

Furthermore, the inputs and sensors of these devices will also be hijacked, with attackers feeding audio, visual or other faked inputs to make these devices do what they want rather than what users expect them to do.

 

IoT Devices Will Provide Persistent Access to Home Networks

Beyond DDoS attacks and ransomware, home IoT devices will be compromised by cyber criminals to provide persistent access to a victim’s network. Home users generally do not consider the cyber security implications of their home IoT devices, leaving default settings and not vigilantly updating them like they do with their computers.

Persistent access means that no matter how many times a victim cleans their machine or protects their computer, the attacker will always have a backdoor into victims’ network and the systems that they connect to.

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