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How Many CPUs are Hacked To Mine Cryptocurrency in China in Last Two Years?

How Many CPUs Are Hacked To Mine Cryptocurrency In China In Last Two Years?

Though there has been a number of news about the hacking of cryptocurrency exchanges and wallet, there was not much about the number of CPUs being hacked in China. Now, there is information that more than a million computers were hacked by cybercriminals specifically to mine over $2 million worth of digital currencies in the last two-year period. The hacking was done with the help of malware spreading across computers in the country. Significantly, the country has slapped a ban on the digital coin in September last year.

Police Arrest

Monecontrol.com cited a report of Legal Daily, a Chinese news outlet, which indicated Chinese police had arrested suspects of a computer technology company in Da Lian city. The suspects were allegedly able to get control of a big number of computers. This has helped them to get profit through unlawful mining of digital currencies. Cybercriminals have turned towards the virtual currencies mainly because of lack of identity being shown to others enabling them to escape without any big issues.

Hackers of the digital coins use every trick to gain access with the help of internet browser plug-in that was created by them specifically for the purpose. The hackers have not only created malware but also embedded them inside the plug-in for different reasons. If any computer gets affected by malware, a display ad could pop up the screens of such users. That is not a good thing for the personal computers segment since it only infects them.

Significantly, this has only boosted the hacking numbers by clicking the display ads outcome and installing the plug-ins have impacted more than a million computers. The police have charged the suspects of stealing 26 million tokens of Digibyte, Decred, and Siacoin that were mined during the two-year period. The hackers preferred digital coins for several reasons, and one among them is to capitalize the importance attached to it.

The hackers were ready to mine more virtual assets as they were of the belief that malware did not need significant computing power. The process of back-end mining is quieter meaning there is less chance of victims spotting theft of CPU power.

Network of Agents

The cybercriminals were bent on taking advantage of the market conditions despite sluggishness. This was quite evident when the hackers could establish a network of over 100 agents. Their sole objective was to support disseminating the unlawful mining software to reap rich dividends. There was also a report suggesting that hackers could establish a working alliance with internet cafes to mine digital currencies.

The issue of hacking is not restricted to China alone and spread across different countries through the country has slapped a ban on any activities relating to digital currencies. For instance, Japan has witnessed more than half a billion American dollar worth of digital assets being stolen in the current year alone. Similarly, South Korea has also encountered the issue as the two nations are known to support the new age financial instrument.

About the author

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Jay Wilson

Fred is a successful entrepreneur and investor. His passion to share his knowledge and to analyse the highly unregulated cryptocurrency market brought him here. His experience gives him a strategic edge amongst others.

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