More Than Twenty People Arrested For Cryptojacking In China

Hey Ninjas, It’s no news that there has been a lot of hacks in the crypto world. We have heard many cases of people losing their money in the short time they venture into Cryptocurrency. Newbie problems? Well, you’ve got to learn in a hard way these days. You must have heard of terms like Cyber hacking, Back Door, DDoS, Dictionary attack, phishing and many more. But have you heard of Cryptojacking? Well, you are about to learn something new now.
Read on!

No matter the industry, no matter the tech, swindlers will adapt

Cryptojacking is a process whereby a computer’s processing power is being used for mining without the owner’s consent. Are you surprised? Well, don’t be.

China has a substantial effect on cryptocurrency. Whenever there is major news on Crypto, be it positive or negative you can be sure that this will cause a change in the price of Bitcoin. Well, I cannot ascertain that this is a significant cause of bearish behaviour by Bitcoin. However, it is assuredly one factor that we can consider and input into our models of describing the current market behaviour.

There have been reports that roughly about twenty people have been apprehended in Cryptojacking case that is affecting over one million computers in China.

Chinese security firms resisting the illicit use

This arrest was made possible by Tencent security team after they observed and alerted Weifang City Public Security Bureau about a Trojan horse mining script that was hidden in freely downloadable plugins that are programmed to consume user’s computers power below 50 percent without their consent.

The best practice Ninjas is to ensure that whenever you are not sure of some specific things online, please don’t click. Again, when you are not using your personal computer, it is advised you shut it down so no one will be able to control your system offline.

A process of legitimization of this practice through private development?

Perhaps the recent acquisition from Bitmain of the Opera operating systems is part of a broader movement towards the development of a new type of open form of mining BTC, or other currencies, on the orders of independent consumers

See you around ninjas. See you soon.
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