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A Case of Malware Mining Monero (XRM) with Egyptian Telecom Service Provider

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Monero
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There was a real pandemonium unleashed on the Middle Eastern internet users when it was discovered that an Egyptian telecom service provider, which is also one of the biggest telecom companies in Egypt, was taking advantage of their users by forcing them into unknowingly joining a coin hub where their computer power was being used for mining Monero without their knowledge or approval. This case is everything but ethical, and Monero is surely nor enjoying being linked to a malware mining, especially now when it is only one day far from getting a hard fork.

Monero: What exactly happened?

The malware mining case was discovered by the Citizen Lab from the University of Toronto, and they have stated that the Egyptian government is directly involved in this horribly unethical scenario.

More than 5000 users were taken advantage of in order to provide a power source for the Egyptian government that was working with one of Egypt’s largest telecom service providers. The users have been taken advantage of for mining Monero without even knowing, and as you know you get profit for getting involved in mining, so the Egyptian government was apparently trying to get rich by tricking internet users who weren’t suspecting anything.

Apparently, the telecom giant that was involved in this scam has been using a malware called AdHose. AdHose works by redirecting the internet users who gave their trust to this Egyptian telecom service provider to a virtual hub called Coinhive. Through the Coinhive, the users’ computer power and CPU were being used without them knowing for mining Monero, or alternatively for displaying adds. That way the service provider and the Egyptian government could have managed to collect a pretty flattering profit until they were discovered and traced by the Citizen Lab of Toronto.

The malware called AdHose apparently as discovered has two working modes. One of the modes is called “spray mode” and in this mode, if a user affected by this malware tries to reach any website, his or her attempt would result in having the user redirected either to a mining network called Coinhive or alternatively to an ad network.

It was discovered that back in January 2018, as discovered by a scan, that over 90% of users, which resulted in number 5700, was affected by this malware.

The second mode known to AdHose is “trickle mode”. In this mode, certain web addresses would lead affected users to two different websites as set up by the telecom service provider. One of the sites is copticpope.org, which was previously a website belonging to the pope of Coptic Orthodox Church seated in Alexandria. The other site the affected users were being directed to is Babylon-x.com, which was previously a porn site.

This malware is also said to be used for surveillance that Syria and Turkey governments performed over their citizens, that way prohibiting access to media such as Al-Jazeera, also prohibiting access to non-government organizations.

This was all made possible “thanks” to the device provided and manufactured by the company called Sandvine PocketLogic.

Sandvine, however, denies that they have the technology that would enable such operations, as well as that the report provided by Citizen Lab of Toronto, are not to be trusted as a reliable source.

Sandvine further claims that their technology has never been in contact with malware operations as well as that their product doesn’t allow the implementation of suspicious malware that would allow the Egyptian telecom service to redirect their users to the Coinhive. Although they claim that their devices do have the options of HTTP redirection, moreover they added that this feature is enabled and present in many different similar products.

Regardless of Sandvine’s claim, this technology was used for implementing spyware as indicated by Syrian and Turkey government, while it was also used from the side of the Egyptian government for unauthorized use of computer power for mining Monero.

How is Monero Doing at the Current Moment?

As Monero was expecting the launching of its hard fork that should occur tomorrow on March 14th, XMR had a pretty turbulent couple of weeks.

While Monero is said to be switched with MoneroV, where all Monero tokens would be switched with 10 MoneroV tokens, this currency had some amazing rises in its price, going over to trading around 350$ per one unit at the end of February and the beginning of March.

Things changed more than a bit, so Monero seems to be suffering from severe drops. The latest changed in price was marked by a drop of -11.06% against the dollar, which was a pretty defeating outcome for this currency.

Monero can now be bought at 251.43$ per one unit and is trading in the red. This doesn’t need to be a bad thing as this price enables investors to get their XRM at lower prices.

The things should hopefully get going upwards for Monero after the hard fork, as it usually the case that currencies get more on its monetary value after a change has been made like it is the case with hard forking.

We will be updating our subscribers as soon as we know more. For the latest on XMR, sign up below!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Dennis Jarvis via Flickr

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Reasons Why 2019 May Be A Great Year For Crypto

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crypto
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The new year was always considered to be a time of new beginnings, where people can reflect on the past and learn from their mistakes in order to be better in the future. The same is true for the world of crypto, and investors around the world are hoping for 2019 to be better, more profitable, and to have more success than 2018.

The hope for the future is even more important when we consider all the negative development in 2018. There were numerous high-profile hacking attacks, two market crashes, with a strong bear market in between. Not to mention that some of the biggest projects that may have brightened the year a bit ended up being delayed.

With that in mind, it is understandable why investors are looking forward to the new year and all the potential development that it may bring. In fact, there are several reasons why they should be excited about 2019.

1) Bearish market to loosen its grip

The first reason why 2019 can be a good year digital currencies is that it may finally break free of the bearish grip that has been felt ever since last January. Following the first market crash, the bears settled in, and the prices kept falling for an entire year. The market attempted to shake off the negativity on several occasions, with the biggest one being…

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3 Coins with the Largest Potential in 2019

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coins
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2018 has been a pretty bad year for digital coins, and after the initial market crash that occurred a year ago, everyone was expecting a bull run that will fix things. Obviously, it never arrived, and instead of that, all that crypto market experienced was an entire bearish year and another crash in mid-November.

Now, however, it is a brand new year, and attempts to shake off the bears’ grip can be seen even in these first two weeks. The market is still struggling and mostly losing value, rather than gaining, with most coins being in trouble once more. Still, a lot can happen in a year, and most investors remain optimistic regarding 2019. Here are some of the coins that are believed to have tremendous potential, and to be the hope of this year.

  1. Bitcoin (BTC)

Of course, Bitcoin comes first. This is the first cryptocurrency which is still dominating the market, with no other coin being even close to its market cap or price. BTC is the coin that has reached the most prominent heights, and it also lost the most in the previous year. However, there is still hope, as there are several projects and events scheduled for this year that might turn things around for the number one coin.

One thing that is expected is the approval of Bitcoin ETFs…

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Do or Die: 3 Crypto Projects that Really Need to Deliver Soon

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crypto projects
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Crypto projects have gone through several crucial periods of development, and while it is fascinating to watch their progress to maturity, a lot of investors are becoming impatient. During the first few years, they were barely known, only talked about in specific groups, among those developers and investors who had the luck to find out about them in the early days.

The next several years, altcoins started appearing, and the voice of cryptocurrency slowly started to spread. Then, there was a period of hype, when crypto exploded, and the entire world finally learned about this new technology that promised to change the world. Naturally, the overhype led to a market crash and price correction that we experienced last year, but the impact was made, and the world is still talking about them on a daily basis.

However, now is the time for cryptos to deliver on their promise, grow up, and start showing results. There are high expectations for many projects, but for various reasons, they have yet to deliver, and many are hoping that 2019 will be the year when they finally do it. Let’s see which 3 crypto projects really need to show results, and soon.

1) Ethereum (ETH)

Are you surprised to see Ethereum at the first spot? The project has been a top cryptocurrency for years, why would it be in danger now?…

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