Hackers Exploiting Microsoft Servers to Mine Monero – Makes $63,000 In 3 Months
This article talks about the following: mining cryptocurrencies can be costly investment as it requires great amount of computing power, hacker have started using malware that steals computing resource from large organizations, security firm ESET have spotted a malware that infected hundreds of windows web servers with malicious cryptocurrency miner, which helped the hackers make more the $63,000 of Monero in last that three months, according to the report the hackers only made slight modification to the legitimate open source Monero mining software and exploited a known vulnerability in Microsoft IIS 6.0 server, the hackers have been infecting unpatched Windows web servers with the cryptocurrency miner since May 2017 to mine Monero, finally the reason why hackers favor hacking Monero is because Monero uses proof-of-work algorithm called CryptoNight which suits computer or server CPUs and GPUs while Bitcoin requires specific mining hardware.
It will be interesting to see how things unfold in the future. Most importantly, what the future holds for cryptocurrencies, will they continue to increase? Also, once they do will they be regulated by the government? Finally, will cryptocurrencies start to compete with the big banks?
My article talks about Equifax’s external auditor, E&Y, and how they failed to uncover the massive security holes that were exploited during the data breach. While E&Y’s primary responsibility is giving and independent opinion about Exquifax’s financial statements, these are increasingly tied to IT and the risks surrounding them. E&Y was aware of the SEC’s increased focus on cyber risks in the past and the SEC had asked Equifax to include a cyber risk disclosure in their financial statements. It is an interesting question, if external auditors should be held accountable for breaches at the companies they audit.
https://thehackernews.com/2017/09/windows-monero-miners.html
Hackers Exploiting Microsoft Servers to Mine Monero – Makes $63,000 In 3 Months
This article talks about the following: mining cryptocurrencies can be costly investment as it requires great amount of computing power, hacker have started using malware that steals computing resource from large organizations, security firm ESET have spotted a malware that infected hundreds of windows web servers with malicious cryptocurrency miner, which helped the hackers make more the $63,000 of Monero in last that three months, according to the report the hackers only made slight modification to the legitimate open source Monero mining software and exploited a known vulnerability in Microsoft IIS 6.0 server, the hackers have been infecting unpatched Windows web servers with the cryptocurrency miner since May 2017 to mine Monero, finally the reason why hackers favor hacking Monero is because Monero uses proof-of-work algorithm called CryptoNight which suits computer or server CPUs and GPUs while Bitcoin requires specific mining hardware.
It will be interesting to see how things unfold in the future. Most importantly, what the future holds for cryptocurrencies, will they continue to increase? Also, once they do will they be regulated by the government? Finally, will cryptocurrencies start to compete with the big banks?
http://www.marketwatch.com/story/equifax-auditors-are-on-the-hook-for-data-security-risk-controls-2017-10-02
My article talks about Equifax’s external auditor, E&Y, and how they failed to uncover the massive security holes that were exploited during the data breach. While E&Y’s primary responsibility is giving and independent opinion about Exquifax’s financial statements, these are increasingly tied to IT and the risks surrounding them. E&Y was aware of the SEC’s increased focus on cyber risks in the past and the SEC had asked Equifax to include a cyber risk disclosure in their financial statements. It is an interesting question, if external auditors should be held accountable for breaches at the companies they audit.