Hacking, Hijacking, Vitalik is king - TheBit

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Hacking, Hijacking, Vitalik is king

So 51% attacks are a thing then…


The Bit

The legendary 51% attack where one user or group of users controls more than 51% of a crypto-network happened with Bitcoin Gold to steal around $18 million USD worth.


The Bigger Picture

Since last week, one user has been overpowering the BTG networks on exchanges by acquiring the majority stake of the coin. With that they are able to “double spend” their BTG – meaning they deposit the coins to two wallets simultaneously. Hypothetically, this problem is always brought up in terms of debasing the entire Bitcoin network. However, this attack was made within exchange databases not the entire BTG network. This in depth look at the numbers behind an attack like this show that it costs around $200,000 per day to have the network power for a 51% attack.


It’s like Swine Flu for your Macbook


The Bit

You know when you look over and your Macbook’s fan is going insane? Your computing power could have been hijacked to mine Monero.


The Bigger Picture

A new type of malicious software infecting Apple’s Macs is being used to mine monero. Researchers with the cybersecurity firm Malwarebytes confirmed the presence through three main components. There is a dropper, which is a program that downloads the malware, followed by a launcher, which installs and launches the malware, and finally the miner itself, which is based on XMRig, an open source monero miner. Check your “Activity Monitor” program to see if “mshelper” or “pplaunched” are running – if so, make them not.


Yo Vitalik, you ever hear of Google before?


The Bit

Reminiscent of a bad Tinder conversation, a Google recruiter tried to give Vitalik Buterin, founder of Ethereum, World Computer, leading cryptocurrency the “wink-wink.”


The Bigger Picture

The recruiter Elizabeth Garcia leads: “Hi Vitalik, I hope you are doing well and enjoying the weekend! Google make sense for you now or in the near future” With that stunner dropped, Vitalik tweets out the question: “Should I drop Ethereum and work for Google?” This almost sounds like a really very well played publicity stunt. There seems almost no chance of Vitalik leaving his baby Ethereum to deal with a full fledged tech company.


“When I came up with Ethereum, my first first thought was, ‘Okay, this thing is too good to be true.’ As it turned out, the core Ethereum idea was good – fundamentally, completely sound.” – Vitalik Buterin

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