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Federal Reserve Faced Hundreds of Cyber Attacks Since 2011

Source: bitcoin

Bitcoinist_Federal Reserve

According to a report from the Federal Reserve, the financial institution has faced over 300 cyber attacks between 2011 and 2015. This number is quite significant, but it is not surprising in the last, as hackers have taken a liking to attacking financial institutions.

Also read: Spoofed Kraken Email Is A Mt.Gox Victims Phishing Attempt

Although the report is only available in heavily redacted format, Reuters has managed to extract some interesting details. In several dozen occasions, somebody managed to access information that was beyond their level of authorization. Most of these attacks were executed by hackers and spies, though, rather than people working for the Federal Reserve.

Federal Reserve Is A Popular Target

It is important to keep in mind this report only serves as a representation of what has really gone on behind the scenes. Financial institutions such as the Federal Reserve are constantly under threat. However, the report only mentions attacks affecting the Board of Governors, rather than the privately owned branches.

Malicious code, unauthorized access, and information disclosure were the most common threats to the Board of Governors.Interestingly enough, the Federal Reserve’s national cybersecurity team greatly exceed the number of reports by the local cybersecurity team.

In total, 310 reports were filed by the Board of Governors between 2011 and 2014. Nearly half of those attacks were labeled as hacking attempts, although some reports were not classified under a specific banner. Moreover, there have been eight information breaches between 2011 and 2013, all of which occurred through malicious code used by hackers.

Espionage is a factor as well through these incidents, as four incidents were classified under this moniker. Two of these attacks resulted in data being stolen, although the report doesn’t mention specific details. The Federal Reserve report mentioned an additional 51 information disclosure incidents.

What are your thoughts on the Federal Reserve not disclosing the full truth about cyber attacks? Let us know in the comments below!

Source: Reuters

Images courtesy of Federal Reserve, Shutterstock

The post Federal Reserve Faced Hundreds of Cyber Attacks Since 2011 appeared first on Bitcoinist.net.

Federal Reserve Faced Hundreds of Cyber Attacks Since 2011

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Bitcoin Price: Stagnant or Satisfactory?

Source: bitcoin

Finance bitcoin

The bitcoin price has remained steady over the last few months, hovering around the mid $400 USD range. Typically, one bitcoin has equaled anywhere between $420 and $430.

Also read: Blockchain Platform Waves Raises More Than $2M at the Start of the Crowdsale Campaign

Is the Recent Bitcoin Price Stability a Good or Bad Thing?

We’ve recently heard it said that the state of bitcoin has become “stagnant.” I suppose this is one way to look at it. The price hasn’t moved much. Bitcoin seems to have found a comfortable place on the financial ladder and is preferring to keep its ground for the time being. Instead of moving up, bitcoin is deciding to stay as it is.

A potential reason for bitcoin’s halt may be a “recent altcoin pump action.” Most posts in cryptocurrency chat forums have to do with rising altcoins while questions and publicity regarding bitcoin have died down. Magikarpeles from r/BitcoinMarkets explains:

“Serious amount of pumping going on in the alt-verse. I hope no one thinks it’s anything more than P&Ds because anyone that’s been around in crypto for a few years will tell you – if you put your money based on the hope your coin is ‘the next bitcoin,’ you’re going to have a bad time.”

Furthermore, the Federal Open Market Committee, a board holding power over our current monetary policy, saw to a rise in interest rates last December, yet left the rate unchanged the following month.

Suppose, however that there’s another way of looking at things. We likely all remember the tumult, stress, and hassle that bitcoin brought us in 2015. We received quite a scare in January when the price fell to below $200. Certainly, cryptocurrency investors felt a sharp pain in their chests as the price dropped, later receiving only marginal relief when bitcoin rose back up and temporarily made its home at around $230. It was a scary time for bitcoin lovers and financial analysts alike, and it took quite a while for the trouble to subside. It wasn’t until November when bitcoin began to rise through the ranks yet again, reaching $300, then $330, then $360 and finally $400, something we hadn’t witnessed since 2014.

So of course, the word “stagnant” could be used to describe the present scenario regarding bitcoin. It hasn’t risen in some time, and there isn’t much action to report, but it also hasn’t experienced a massive drop, and this is something we can all be grateful for. Bitcoin has found its “happy place,” and we can express joy and feel some much-needed reprieve knowing that such a place isn’t necessarily less that it ought to be. As we’ve witnessed in the past, the bitcoin price can rise again in the future. When that moment arrives, we’ll throw our hats in the air to celebrate our strengthened independence, but until that moment comes forward, we can lie back and rest beneath a sky that bears no signs of an oncoming financial storm.

Do you foresee a sudden bitcoin price rise in the near future? Post your thoughts below!


Images courtesy of The Slovenia Times, pokernews.com

The post Bitcoin Price: Stagnant or Satisfactory? appeared first on Bitcoinist.net.

Bitcoin Price: Stagnant or Satisfactory?