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Scam attacks on cryptocurrencies continue

10/17/2018
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As it turned out, not all applications in the Google Play store bring real benefits. Some of them are designed for hidden mining, and the other does turn out to be empty. For example, some of them offer to mine Ripple. Given that, in the algorithm of this coin, mining is not provided.

New types of fraud on the blockchain revealed

Fortinet conducted a study of cryptocurrency mining applications using a mobile phone or tablet. In its moves, it was found that even the presence of the program in the official Google Play store does not guarantee its safety for users.

A piece of software really gets coins through mobile devices. We will not talk about the effectiveness of this method, here the user himself decides. But a significant part of the software does not connect to the blockchain at all. And after the launch, it writes about a successful connection, shows a hashrate, and even increases the number of "mined" coins. However, when a client wants to transfer funds, he will receive a message about a system error.

In Fortinet, this type of attack is considered almost harmless. It minimally loads the resources of the device and does not infect it with malware. Developers make money by displaying ads, and in a not very honest way try to draw attention to their products.

What really hurts

In a recent study, it was found that more than 5% of the mined coins of Monero were obtained by criminal means, through hidden mining. Not only desktops and laptops, but also mobile devices are at risk. For example, some Google Play applications have integrated the Coinhive script directly into the library.

This led to the fact that mining went even with the browser closed. However, it should be recognized that with minimal user attention to security issues, serious costs can be avoided. The Android application shows which program consumes the maximum amount of resources. If the power is clearly not consistent with the task, it is sufficient to remove the software using standard methods.

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