Category: Cryptos

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Crypto News Cryptos Google Scams

Google Report: 86% of Hacked Cloud Accounts are Used to Mine Crypto

According to the Threat Horizons report for November released by Google, the majority of recently attacked accounts on the search engine’s Google Cloud Platform (GCP) service are being used to mine cryptocurrencies. Hackers are also accessing cloud accounts to find new targets and to host malware and phishing scams.

86% of Hacked Accounts Used for Illegal Crypto Mining

The report indicates that “malicious actors were observed performing cryptocurrency mining within compromised Cloud instances”. It adds:

“Of 50 recently compromised GCP instances, 86 percent of the compromised Google Cloud instances were used to perform cryptocurrency mining, a cloud resource-intensive for-profit activity, which typically consumed CPU/GPU resources, or in cases of Chia mining, storage space.” The remainder of the hacks included ransomware and phishing scams.

Poor Security Opens the Doors For Scammers

In nearly 75 percent of all cases, malicious actors were able to access the Google Cloud by taking advantage of users’ poor security practices, mostly via customers’ weak passwords or absence thereof. Hackers were also able to gain access through vulnerable third-party software. When hackers used accounts to mine cryptos, mining software was installed within 22 seconds of the attack, leaving manual intervention useless.

The team at Google made recommendations to prevent such attacks, with guidelines including the use of two-factor authentication and implementing Google’s “Work Safer” product.

Scams on the Rise

Due to the unregulated nature of the market, exploits in the digital asset space remain common. Earlier this month, Google issued a “Google Ads Scam Alert” after US$500,000 was stolen using fake crypto wallets. Users of crypto swap platform PancakeSwap and MetaMask and Phantom wallets had been targeted in a phishing scam when hackers stole funds while users tried to install the wallets. Scammers used Google Ads to divert users to fake crypto wallets.

Also in October, Google’s Threat Analysis Group (TAG) had to fend off numerous hackers after they attacked the accounts of various YouTubers, hijacking and repurposing the accounts to run crypto scam ads.

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Crypto Memes Crypto News Cryptocurrencies Cryptos Events Sports

‘WTF Coin’ Crypto Streaker Hits Euro 2020 Match

Running up on stage or out onto the sports field has become a popular way to hijack mass audience attention, if only for a moment, and perhaps shill your shitcoin at a big event.

What The Actual?

Interrupting a June 22 Euro 2020 match in Saint Petersburg, Russia between Belgium and Finland, a young woman ran onto the football pitch wearing just a smile, a black bodysuit and tiny shorts. Across her chest in big letters read ‘WTF’ and in smaller script a website address, yoursafe.wtf. The woman lasted about half a minute before she was captured by security and escorted off the pitch.

To save yourself the trouble of looking up the WTF coin, here are the highlights:

  1. The artwork is pretty cool. That’s all.

Regular Football Fan Also Invades Pitch

The WTF woman was not the only pitch invader of the day. In the other Group B game between Denmark and Russia, a Russian fan made it onto the field before also being stopped by security. However, this fan was not promoting anything. He was simply wearing a Russia jersey and was there to support his team.

For more wacky behaviour, check out these highlights of the Bitcoin 2021 Miami Conference shenanigans.

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Crypto News Cryptocurrencies Cryptos Investing Surveys

Nearly Half Of Millennial Millionaires Have At Least 25% of Their Wealth in Crypto

The crypto boom has created wealth for young early adopters and according to a new survey, nearly half of millennial millionaires have at least a quarter of their money in crypto.

CNBC Millionaire Survey Findings

According to the CNBC Millionaire survey, about 47% of millennial millionaires have more than 25% of their wealth in crypto. The survey sampled 750 investors with at least $1 million in investible assets, and showed that more than a third of millennial millionaires have at least half their wealth in crypto. Australian millennials are no different, as we recently reported that aussies are more interested in crypto than real estate.

The younger investors were more intellectually engaged with the idea even though it was new. Older investors and the boomers were largely saying, ‘Is this legit?’

George Walper, president of Spectrem Group

Older millionaires are far less likely to invest in crypto due to a lack of interest or an inability to understand it. The survey shows that 83% of American millionaires have none of their wealth in crypto, and only one in 10 keeps more than 10% of their wealth in crypto assets.

Generational Gap Opens Wider on NFTs

The generational divide is at its largest with regards to non-fungible tokens (NFTs). The majority of millionaires say they don’t know what NFTs are, and regarding millennials a third of them are saying they are an “overhyped fad”. The other two-thirds are saying NFTs “are the next big thing”.

Nearly half of millennials surveyed own NFTs, and 40% say they don’t currently own an NFT but have “considered” it. In comparison, 98% of boomer millionaires say they don’t own any NFTs and aren’t considering acquiring any.

US Millionaires Plan To Sell Stocks and Cryptos Before Tax Time

The survey also showed that 69% of US investors with more than US$1 million expect higher taxes under the Biden administration, specifically higher capital gains tax and business tax. This could push investors to sell their investments before the tax hikes come into play. According to the survey, 19% of participants plan to do this.

Businesses Should Be Prepared For New Buyers In The Market

The importance of crypto to young millionaires could shift the wealth management industry as private banks, brokers and wealth management firms scramble to cater to a new, crypto-heavy clientele. Businesses that wish to capute this new market segment must therefore cater to their needs.

We see more and more providers offering access to crypto investing. It’s changing fast.

George Walper, president of Spectrem Group

And as younger millennials become home owners, businesses need to adapt to their needs to survive. Some Aussie buyers are even using crypto as house deposits.

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Australia Crypto News Cryptocurrencies Cryptos Data Investing Surveys

40% of Australian Millennials Prefer Crypto Over Real Estate

As Australians become increasingly interested in alternative investments, a recent survey by international cryptocurrency exchange Kraken has found that 40 percent of millennials prefer investing in digital assets over real estate.

More Than a Million Millennials Will Buy Crypto in the Coming Year

The findings arrive on the back of a global property market boom elevating house prices to record levels across most Australian capital cities.

Other findings of the report include:

  • 40% of millennials and 31% of Gen Zs believe crypto is a good alternative to property
  • 20% of crypto investors view crypto holdings as being useful in saving for a home or investment property deposit
  • On average, Australian crypto investors have 12.5% of total assets in cryptocurrencies
  • 10% hold more than 25% of total assets in digital currencies
  • Just under 25% of investors are long-term HODLers

As real estate investment becomes increasingly elusive, the report notes that up to 4 million Australians will be buying cryptocurrency in the coming 12 months, a third of whom are millennials. Up to 67 per cent of this group were found to believe that digital assets are a good alternative to an investment property. We also saw recent survey results that 49% of Money Invested into Bitcoin Would Have Gone into Stocks with over 62,000 answers, shows the percentage breakdown of investor capital by markets that was invested into cryptocurrencies..

Kraken Optimistic About APAC

Jonathon Miller, Kraken’s Australia-based managing director, says that cryptocurrency adoption in Australia is growing at a rapid pace with the bulk of demand rather unsurprisingly stemming from millennials and other younger generations. Miller notes:

Australians maintain some conservative attitudes towards investment. Property has been a cultural norm and high on the wish list for most investors, but as affordability continues to be an issue we’re seeing more young people look for other options to grow wealth.

Jonathon Miller
Jonathon Miller, Kraken Australia MD

Miller maintains a positive outlook for the broader Asia-Pacific region and confirms what many have long suspected, that youth is undoubtedly leading the way in crypto adoption:

We’re confident that as more investors look to diversify their portfolios and seek investment opportunities outside of the traditional offerings, we’ll see cryptocurrency come into its own in APAC.

Jonathon Miller

In related news:

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Crypto News Cryptocurrencies Cryptos Dogecoin

Mark Cuban talks about Dogecoin on the Ellen Show, with 2.6 Million Viewers

Mark Cuban told Ellen that he accepts the Dogecoin cryptocurrency as payment for his Mav’s basketball team merchandise and suggested she should do the same for her Ellen shop.

“Should I buy some Dogecoin?” is possibly the most popular question coming from the mouths of noobs looking to get into crypto over the past several weeks and months. And with Mark Cuban telling the 2.6 million viewers on the Ellen show to go buy DOGE, will surely help its poularity grow.

Dogecoin Started as a Joke

The meme coin that started off as a joke, has performed insanely well, much to the surprise of the more serious crypto investor. Dogecoin has climbed into the top cryptocurrencies on CoinGecko, currently sitting at #7 under well known majors; Bitcoin, Ethereum, Binance coin, Ripple and Cardano.

It went from being a crypto currency joke, to now becoming something that’s becoming a digital currency.

Mark Cuban

Dogecoin was created in 2013 by software engineers Billy Markus and Jackson Palmer, as a payment system free from traditional banking fees. Since, it has gained a huge online following and made headlines again recently by hitting it’s all time high of 0.40c per coin, rising over a whopping 450% in value over just one week.

Cryptocurrency is just an asset to invest in. Bitcoin is like a digital version of Gold, Ethereum is a digital version of a currency and then you’ve got Dogecoin… which is just fun!

Mark Cuban

Is Dogecoin a Good Investment?

Because Dogecoin started as a joke and has limited utility, some might say it’s not even an investment at all. However, it certainly has strong branding and provides a great way to introduce new people into the cryptocurrency space.

We’re seeing some shops have starting accepting DOGE as payment, such as merchandise on the Dallas Maverick Store, owned by Mark Cuban. And with such a strong meme presence and an army of famous ambassadors such as Elon Musk and Snoop Dogg shilling the project on social media, love it or hate it; Dogecoin is here to stay.

Caitlin Carey – Crypto News Guest Author