Finance

Money Taker and the local bank shake-down

Earlier this month security researcher's uncovered a super secretive Russian-speaking hacking group believed to have robbed more than 20 financial organizations across the world. This group, known as 'MoneyTaker' (it is great when a brand is so appropriately named), has also stolen sensitive documents costing approximately $11 million. The worry is that these could be used in another attack.

Cryptocurrency

It seems that public opinion still stands at around 50-50 on whether cryptocurrency is a good investment. Even the business maverick Gary Vaynerchuk himself is undecided about it.

With plenty of experts on both sides of the issue, one of the biggest drawbacks of cryptocurrency use, is the frequency with which it can get hacked.  On the plus side, Bitcoin - just surpassed the $7,000 mark. One Bitcoin is now worth more than $7k, that's a large incentive to get involved.

China says No to ICO’s

Why are ICO’s so risky? 

Unlike traditional IPO's where buyers gain shares, during an ICO, each company is given a virtual token (its own form of cryptocurrency). The token goes up in value only if the company proves viable, then it becomes liquid again.

Not only do the companies often not prove viable, hackers can influence the outcome of the market. You would think that these companies that depend on cryptocurrencies would have kept better tabs on their cyber security.

Is Bitcoin the safest currency?

Bitcoins are created as a reward for payment processing work, users offer computing power to verify and record payments in a public ledger, also known as mining. Miners are rewarded with Bitcoins, which can be traded for other currencies or services. With similarities to old school bartering, Bitcoin has put a virtual spin on this type of trading.

We are continually reminded about how great Bitcoin is, how safe to store and use.

Why are we suddenly so interested in Bitcoins?

A survey conducted by Citrix, a corporate networking company, indicates that IT departments too are preparing for unapparent attacks through bitcoin reservation. This survey was conducted in the UK, where a third of the subjects (with a worker base of more than 250 professionals), out of 250 agreed to stockpiling the currency. Moreover, most of these firms indicated that they didn’t maintain a consistent backup.