Smart-TV suitable for Monero exploration

Starting today, security researchers from Avast will demonstrate at the Mobile World Congress 2018 how a modern television can be used for monero-cryptomining. Viewers can watch live how the device is infected with malware. All Internet of Things (IoT) devices, including traffic lights, cameras, WLAN routers, loudspeakers, intelligent refrigerators, other modern kitchen appliances, thermostats, regulators and much more are suitable for this purpose.

The Internet of Things (IoT) is becoming more and more extensive for the Bitcoin trader

Worldwide, around 500 million devices and Bitcoin trader services are connected to the Internet, and the number is rising rapidly. Despite all the advantages offered by modern technologies such as Smart TV or Smart Home, it is also important to take a look at the Bitcoin trader risks. Hacking smart devices is no longer something only a few geniuses can do.

Future hackers no longer even have to try out for themselves which devices are susceptible to takeover by third parties. This information can be easily obtained from the Shodan.io website after registration. This is a kind of search engine for hackers. Listed are the security holes or standard passwords of all intelligent devices with Internet connection. Shodan.io searches the Internet daily and analyzes the results to keep the database up to date. For the very lazy hackers there are automatic tools such as AutoSploit. This script takes over the devices at home at the push of a button. Of course, this is not legal.

This accessibility to sensitive information naturally threatens the privacy of people who use modern security cameras or smart speakers at home, for example, to film or listen to those affected. On the multilingual website Insecam.org, the live stream from countless unprotected video cameras is transmitted to the net as a deterrent in order to inform the owners about the threats to their modern devices. Related to Germany, this is a total of 500 IP cameras, whose live images are available there around the clock. Also all morally questionable motives were removed according to own statement from the data base. Since the operators of the cameras have never changed the preset passwords to control the devices, the transmissions can of course also intercept third parties.

Capturing smart TVs for the crypto trader

In addition to such use cases for hacking smart devices, there is now another one that is particularly relevant for crypto trader affine devices: https://www.geldplus.net/en/crypto-trader-review/ Employees of Avast, the manufacturer of antiviruses, want to demonstrate how easy it is to take over a modern television set including an Internet connection at the trade fair currently taking place in Barcelona. In the live experiment, a smart TV is captured in order to dig for Monero. We have already reported several times about JavaScript on web servers and other malware that can be used to abuse PCs, smartphones, SCADA controllers for wind turbines and much more to dig for crypto currencies. Cyber criminals have now targeted the IoT’s hardware in view of the sheer number of devices.

According to the Shodan database, there are over 58,000 smart devices in the network in Barcelona alone that would be suitable for a takeover. Only devices with a fast CPU or graphics card are actually suitable for crypto mining.

Due to the comparatively low margins for the mining of IoT devices, hackers are encouraged to infect even more hardware in order to generate sufficient sales.

For owners, this can result in an excessive electricity bill, increased response times, reduced performance and a shortened lifespan of the affected devices.

Websites such as Insecam or Shodan and projects such as the one presented by Avast impressively show that a more precise knowledge of the security precautions of modern technology should be more closely checked in-house for security. Accordingly, it should be checked where, for example, the standard passwords can be changed.

Bitcoin exchange rate reaches 2,000 (two thousand!) US dollars

The price per Bitcoin has reached the expected target of 2,000 US dollars and is not only causing euphoria in the digital currency market. On early Saturday morning, the price broke through the magical 2,000 US dollar mark for the first time with 2,014 US dollars and a market capitalisation of 34 billion US dollars.

There had been speculation for quite some time that the 2000 mark would be reached in a timely manner, and the price stabilised at around 1,800 US dollars.

It was only on Friday that the value of the digital token broke through the 1,900 mark and thus started the rally in the direction of 2,000 US dollars.

What does the strong price increase mean for Bitcoin, the entire community and the ecosystem of the digital currency? The opinions of the experts differ widely here.

No healthy growth according to Bitcoin news

Vinny Ligham was not very pleased with the Bitcoin news about the rapid course of the share price and regards it as detrimental to the Bitcoin news ecosystem: “I don’t think the price increase is healthy, but I’m sure everyone else knows that better. I observe and wait.”

Malcolm Macleod: Problems still persist
Gulden Wallet developer Malcolm Macleod believes that without a fundamental basis, the price has been pushed up too much, ultimately damaging the system. He referred to the continuing scaling problems and the resulting number of unconfirmed transactions in the Bitcoin network. Currently, a maximum of 7 transactions per second can be processed in the network.

“The whole thing is a double-edged sword, it has something good, but also something bad,” says Malcom.

More money inflow via Bitcoin formula

Alexandro Colorado of Bitcoin Mexico thinks differently about the Bitcoin formula scam. Although Bitcoin certainly has a scaling problem, he sees the rising share price as a logical consequence: “It’s logical because more and more money is flowing into the Bitcoin formula system,” Alexandro told Cointelegraph.

Nathan T. Freeman of Cryptopulco says:

“Bitcoin’s value is rising as more and more people agree to part with their Fiat currencies and invest in Bitcoin. If you try to explain why people are already willing to do this, you are projecting a motive for their subjective value and you can’t. Even if the motive may be right, you can’t prove it. It is a sea of individual decisions. It’s all good.”

Will the Bitcoin bubble come in 2019?
Alexandro Colorado:

“A bubble is created by manipulation, but what we are currently seeing is something completely different. Companies also growing by billions a month, why shouldn’t that be possible for a crypto currency? Just because many people don’t yet understand or trust digital currencies doesn’t mean we’re in a bubble.”

Vinny Hingham responded to CoinTelegraph’s question whether we were in a bubble with the following answer:

“Yes, but also the people who screamed in 2011 that we were in a bubble were wrong. It took 2 years until the big bang.”

Malcolm McLeon showed himself insecure about whether it was a bubble. He can’t explain for sure what triggered the recent course rally..:

“I think there’s a big chance we’re in a bubble, but I hope I’m wrong.”

Nathan T. Freeman makes Bitcoin’s future especially dependent on an event:

“There is only one big event that will significantly shape Bitcoin’s future and that is the blocksized debate. All other factors are beyond Bitcoin’s control and cannot be influenced. However, we are already talking here about predicting global effects and major political shifts.”

“Predicting a bubble is like throwing a die and anyone who claims they can predict a bubble is a coin thrower.”

SEC postpones decision on Bitcoin-ETF

The US Securities and Exchange Commission (SEC) has again postponed a decision on the admission of a Bitcoin exchange-traded fund (ETF). The proposal submitted by the CBOE was for the introduction of a physically backed Bitcoin ETF called VanEck SolidX Bitcoin Trust. The Commission combines its decision with an appeal to the interested public to comment on individual aspects of the submitted proposal.

And every day the groundhog greets

The decision of the US Securities and Exchange Commission (SEC) to allow itself even more time with regard to Bitcoin ETF comes as no surprise. The Commission does not want to rush into anything – and that is a good thing. In its opinion on the postponement, the Commission pointed out the argumentation of the applicant CBOE. Subsequently, the SEC encouraged the public to examine whether the arguments of the stock exchange were sufficient “to protect investors and the public interest”. This call has a good chance of falling on fertile ground. After all, the SEC had already received over 1,400 comments on the Causa VanEck SolidX Bitcoin Trust by September 19. An overwhelming number of commentators were in favour of approving the Bitcoin ETF.

21 days

The SEC has set a deadline for filing comments of 21 days from the publication of the report. Those who wish to present their arguments or data to the Commission can either complete the form on the SEC website or write a letter or e-mail to the authority.

Mark Preuss is founder and managing director
After studying economics in the Netherlands and China, he held various positions in finance, first in Switzerland and finally in Düsseldorf. Early on, he became enthusiastic about digital currencies and blockchain technology. In the absence of a contact point in German-speaking countries, Mark finally decided at the end of 2013 to launch BTC-ECHO, his own media platform for digital currencies and blockchain. Since then, he has developed BTC-ECHO into the most widely used German-language platform for crypto currencies.