After dropping to a yearly low of $82, Ethereum (ETH) managed to regain its traction and experienced a short-term corrective rally that pushed the price to the current one of $89, but the hack attacks seem to be on the rise again according to the latest ethereum news.
According to a tech magazine ZDNet another wave of hack attacks seems to be on the rise again after a research done by the monitoring company Bad Packets LLC revealed that the price drop didn’t stop malicious individuals or groups to from stealing from miners and investors.
Hackers are working intensely to identify mining rigs and wallets by scanning the network which will lead them to gain control and redirect the funds to other places.
The Bad Packets co-founder commented:
“Despite the price of cryptocurrency crashing into the gutter, free money is still free, even if it’s pennies a day.’’
The phenomenon of scanning the ethereum network was first discussed in June this year after one operation managed to obtain $20 million in ETH. Other incidents include joining different groups and parties to separate the crypto holders from their valuable assets.
This year is possibly one of the worst years for cryptojacking or hack attacks which multiple companies monitor as well. Hackers tried to command the devices that mine in order to steal cryptocurrency. The monitoring companies noted a 500 percent increase this year only.
Many new users don’t recognize this threat and many don’t understand it which is even a bigger potential of crypto jacking.
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