Kvě 14

WanaCrypt0r 2.0 Ransomware Myths Fail To Shake Bitcoin Optimism

· May 13, 2017 · 7:00 pm

Bitcoin is shrugging off links with the ongoing international WanaCrypt0r 2 cyber attack as the media struggles to work out who to blame.

WanaCrypt0r 2: Media Perpetuates Bitcoin Myth

Beginning Friday morning, 99 countries began losing control of huge sections of their IT infrastructure.

The alarm first became public after Spanish telecommunications giant Telefonica saw 85% of its computers infiltrated with Bitcoin ransomware. Screens displayed a demand for around $300 per machine to end the attack, which soon spread to countries around the world including the UK, where its public health service, the NHS, was targeted.

As more details have come to light, Bitcoin has taken a substantial publicity hit due to a combination of misinformation and sensationalism in the mainstream press.

UK publication the Daily Mirror published a form of explainer for readers about BItcoin as the attack spread, in which it described the virtual currency as “the money ransomware hackers are demanding from NHS.”

Attack Fails To Shake Crypto Confidence

Not everyone was fooled by the kneejerk reaction. One response to the Mirror article reading “blaming bitcoin for ransomware is exactly like blaming the duffel bag for of cash for a kidnapping,” yet markets clearly felt the pressure.

Having reached a high of almost $1870 earlier in the week, Bitcoin briefly saw a dip to $1655 in light of the attack, subsequently recovering to sit at around $1750 at press time Saturday.

Bitcoin price drops in wake of cyber attack

Given the scale of the attack, such resilience is remarkable, perhaps due to an already emerging sense the real weakness lies in outdated IT systems.

In the hunt to find the source of the attack, Microsoft immediately came under fire, as its perpetrators appear to have exploited a Windows vulnerability to spread WanaCrypt0r 2.

This vulnerability first hit the headlines after hacker group the Shadow Brokers leaked a second batch of National Security Agency data in April.

Real Spotlight On Legacy Infrastructure

In the case of the NHS, which has seen doctors switch to pen and paper as a result of computers being outside staff control, running the Windows XP operating system would have made its network a ‘sitting duck’ for more modern attacks.

Despite Microsoft releasing security updates to minimize the threat from the Shadow Brokers leak, XP has not had official security updates made for several years.

I'll Never Let Go XP

Outdated infrastructure has been easy prey for ransomware attackers in the past. The scale of the problem became evident in studies last year, which suggested the majority of both smaller and larger businesses were ill-prepared for such eventualities.

Data collected by Phishme in Q3 2016 showed that 97% of common phishing emails contained ransomware.

What do you think about the WanaCrypt0r 2 attacks? Let us know in the comments below!

Images courtesy of MemeGenerator, CoinMarketCap, AdobeStock

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Kvě 24

Blockchain-based Remittance App AirPocket Comes To Latin America

Source: bitcoin


Blockchain technology has a lot of potential to disrupt the financial sector, and DigitalX is one of the companies wielding the blockchain for remittance purpose. Now that the company has inked a deal with Telefonica in Latin America, AirPocket will be coming to that region very soon.

Also read: Lisk Expands Team Heading Into May 24 Launch

People active in the world of cryptocurrency and blockchain will have heard of DigitalX before, as the company wields distributed ledger technology for financial purposes. Through its AirPocket mobile app, anyone in the world can become a remittance provider, which established a peer-to-peer network of money transfer agents.

Bringing AirPocket to the masses has been a challenge for DigitalX, though, but the company recently partnered with Telefonica in Latin America. Telefonica is the leading Latin American telco, and this new partnership will ensure the DigitalX mobile app will make its way across the entire continent over the next few months.

Blockchain Remittance Through AirPocket and DigitalX

According to DigitalX founder and executive chairman Zhenya Tsvetnenko, the deal with Telefonica is the first of many global partnership announcements. Keeping in mind how DigitalX takes an 11% commission for every AirPocket transaction, bringing this solution to the rest of the world is of the utmost importance.

AirPocket is often touted as being the “Uber of remittance”, as it leverages the sharing economy principle. Additionally, by using a blockchain to complete these transactions, DigitalX has a working example of how this technology can disrupt the financial sector on a large scale while making the process more convenient for its users.

Zhenya Tsvetnenko continued by stating:

“The Telefónica partnership is transformational for our company, and I am not only talking from a revenue opportunity perspective. The fact is, this deal puts our emerging technology company on the global stage and cements our position as a first mover in providing a blockchain application of commercial scale.”

This is a significant partnership between DigitalX and Telefonica, which goes to show AirPocket and its underlying blockchain technology hold a lot of merit for the future. Transferring cash and digital funds between users in a secure and timely fashion is something a lot of consumers have been looking for, and the solution will be coming to Latin America soon.

What are your thoughts on this partnership? Will AirPocket help put blockchain technology on the map in the financial sector? Let us know in the comments below!

Source: The Australian

Images courtesy of Shutterstock, AirPocket

The post Blockchain-based Remittance App AirPocket Comes To Latin America appeared first on Bitcoinist.net.

Blockchain-based Remittance App AirPocket Comes To Latin America