As people began to spend more time online in 2020, it resulted in a boom of DDoS attacks…

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The number of DDoS attacks detected by Kaspersky DDoS Prevention in Q4 2020 increased slightly in comparison to the same period of 2019. However, it is 31% less compared to Q3 2020. This drop can be connected to the growing interest in cryptocurrency mining. 

As people began to spend more time online in 2020, it resulted in a boom of DDoS attacks. And in the fourth quarter, attacks on educational institutions continued: several schools in Massachusetts and Laurentian University in Canada experienced such incidents. Online gaming services also suffered DDoS attacks.

However, in Q4 2020 there were only 10% more attacks than in Q4 2019. And compared to Q3 2020, the number of attacks in Q4 2020 fell by 31%, while Q3 2020 also saw a drop compared to Q2.

Experts suggest that this can be caused by a surge in cryptocurrency costs. As a result, cybercriminals may have had to ‘re-profile’ some botnets so that C&C servers, that are typically used in DDoS attacks, could repurpose infected devices and use their computing power to mine cryptocurrencies instead. 

This is further proved by KSN statistics[1]. Throughout 2019, as well as in the beginning of 2020, the number of cryptominers was dropping. However, from August 2020 the trend changed, with the amount of this form of malware increasing slightly and reaching a plateau in Q4.

“The DDoS attack market is currently affected by two opposite trends. On the one hand, people still highly rely on stable work of online resources, which can make DDoS attacks a common choice for malefactors. However, with a spike in cryptocurrency prices, it may be more profitable for them to infect some devices with miners. As a result, we see that the total number of DDoS attacks in Q4 remained quite stable. And we can predict that this trend will continue in 2021,” comments Alexey Kiselev, Business Development Manager on the Kaspersky DDoS Protection team.

To stay protected against DDoS attacks, Kaspersky experts offer the following recommendations:

  • Maintain web resource operations by assigning specialists who understand how to respond to DDoS attacks
  • Validate third-party agreements and contact information, including those made with internet service providers. This helps teams quickly access agreements in case of an attack
  • Implement professional solutions to safeguard your organisation against DDoS attacks. For example, Kaspersky DDoS Protection combines Kaspersky’s extensive expertise in combating cyberthreats and the company’s unique in-house developments

CoinCorner’s CEO, Danny Scott, explains why he believes there is more positive growth set for Bitcoin in 2021

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“As we come to the end of what has been an iconic year for Bitcoin, I can only see more positive growth in 2021 and here’s why…

By CoinCorner’s CEO, Danny Scott

Eggs with currency signs in wooden packing on a blue background. Golden egg with a bitcoin sign. Investment concept

“Living and breathing this extremely fast-paced industry and soaking up global bullish news daily means that I’ve forgotten more good news from this week alone than Bitcoin had in years back in its early days.

“Here are a few of the reasons why I’m incredibly bullish on Bitcoin for 2021.”

1. Supply and demand

“Starting simply, Bitcoin is finite and there will only ever be 21 million. Back in May, we celebrated Bitcoin’s third halving —an event that happens roughly every 4 years, halving the supply of Bitcoin coming into circulation —and this year saw it go from 12.5 Bitcoin to 6.25 Bitcoin per block (every 10 or so minutes). There are expectations for what might come after, with history telling us that the Bitcoin price will typically begin to rise significantly (20x+) within the 18 months following a halving — often simply put down to supply and demand.

“While we know the supply is fixed, what about the dynamic demand? This is the part that I feel has been underestimated at each halving, including by ourselves at CoinCorner following the 2016 halving which led to the bull run of 2017. During the bull run, we were signing up a record number of registrations but our system and processes weren’t ready for this, and we weren’t alone. Some of the larger exchanges had to freeze registrations as they couldn’t handle the throughput, while others experienced technical issues with their trading engines locking up and websites going down due to overload.

“This time around though the industry as a whole is better prepared for the predicted 2021 bull run… it’s not perfect, but it’s better.”

Where’s the current demand coming from?

“Compared to 2017 when demand came from the retail market (this will eventually happen again, of course), the current demand is coming from an institutional level completely flying under the radar for many people and it looks set to continue through 2021.

“Roughly 27,000 Bitcoin are mined (brought into circulation) each month and although this may sound like a lot, it’s really not. For context, Grayscale added 32,000 Bitcoin to their portfolio in October, CashApp received $1.6 billion worth of revenue from their customers buying Bitcoin in Q3 2020 and PayPal has entered the cryptocurrency market, allowing customers to buy Bitcoin with full global roll out planned for next year.”

“In October, Microstrategy became the first publicly traded company to add roughly 38,250 Bitcoin to their balance sheet, with Square closely following in their footsteps with a purchase of 4,709. I fully expect to see this trend continue through 2021 as more companies look for the best place to exit their fiat positions and choosing Bitcoin as their inflation hedge asset.

“At CoinCorner, our balance sheet (like many other Bitcoin companies) already holds Bitcoin and this is likely to be a growing trend as inflation begins to kick in due to the current financial climate.”

What about traditional investment?

“Companies aside, traditional investors are also beginning to make their moves. The well-respected Rauol Pal has this year become more and more bullish on Bitcoin and his position, even more recently mentioning that he was going to sell his gold to buy more Bitcoin.

“Another example is Stan Druckenmiller and Paul Tudor Jones — two high-profile billionaires who recently opened up about their Bitcoin investments and how bullish they are for the coming years.

Stan is yet another person to compare Bitcoin to gold as an investment, stating he owns both but believes Bitcoin should outperform gold. He was quoted saying:

“…so I own many, many more times gold than I own Bitcoin, but, frankly, if the gold bet works, the Bitcoin bet will probably work better because it’s thinner and more illiquid and has a lot more beta to it.” — Daily Hodl

“Again, this is a trend we can expect to see continuing as wealthy individuals look to inflation hedge assets.”

2. Previous Bitcoin Halvings

“There are lots of price models and predictions coming out, with Stock-to-Flow (S2F) from PlanB being one of the more popular ones, all ranging in price from $50,000 to $288,000 per Bitcoin in 2021.

“The chart below shows the previous halvings, with the red line indicating our current progress since the halving earlier this year. If it continues to follow the previous trends, we can expect to see the S2F model being somewhat accurate — meaning that $288,000 may not be an unrealistic target price.”

Source: PlanB

3. Coronavirus financial crisis

“Touching briefly on the unfortunate situation the world has suffered this year, the coronavirus crisis had the knock-on effect of causing a long-awaited financial crash in March. This resulted in Government bailouts: the U.S. FED printing $3 trillion (plus another $2 trillion on the way), the Bank of England likely printing towards £1 trillion and many more around the world following suit. Not to forget the introduction of negative interest rates which look to become the norm. Although this may be necessary in their eyes to stimulate the economy and its future protection, this comes with a huge risk of inflation on a scale unseen in these territories before.

“Putting this into perspective, the FED printed $3.9 trillion between 2008 and 2014 during the 2008 financial crisis, and they’ve already surpassed this in 2020 alone, with more likely to come.

“When it comes to financial uncertainty, people look for a safe haven and Bitcoin is becoming this.”

4. Bitcoiners

“61.71% of all Bitcoin in circulation hasn’t moved within the last 12 months. Bitcoin investors have stomached sharp drops greater than 50% this year and still didn’t sell. Bitcoin’s sitting comfortably around the $15,000 — $16,000 region right now and still those coins aren’t moving. Bitcoin investors are here for the long-term, they have strong hands and are preparing for the next 20x.

“This Bitcoiner crowd is also continuing to accumulate and hodl more every day, leaving less liquidity available for newcomers. In turn, this will drive the price. Once Bitcoin pushes past the $20,000 previous all-time high and starts hitting mainstream media again, retail investors will enter just as they did in 2017, but this time with the backing of public global companies, billionaires and hedge funds.”

Online searches for Bitcoin

“A quick look on Google trends for the search term “Bitcoin” shows that interest today isn’t anywhere close to that of 2017, sitting at only 13%. Yet, the Bitcoin price is hovering around 75% and looks likely to hit that $20,000 before the interest spikes again.

“Interest during the 2013 bull run was only 10% of what 2017 became and so, I fully expect the 2021 bull run to peak “Bitcoin” interest in excess of 5x, maybe towards 15x, of what we saw in 2017.”

Source: Google Trends

5. Interesting Bitcoin stats

“Numbers sometimes speak louder than words…”

Bitcoin vs alternative investments

“Comparing Bitcoin to alternative investments over the last 5 years, the trend is the same for 12 years also (the whole lifespan of Bitcoin so far).”

Source: Case Bitcoin

Yearly percentage returns for Bitcoin

“Bitcoin’s history shows that after a halving (2012 and 2016), the price sees an incredible increase in the following year, with the year after that being the only negative years (2014 and 2018).”

2010: 𝟵,𝟵𝟬𝟬%

2011: 𝟭,𝟰𝟳𝟯%

2012: 𝟭𝟴𝟲%

2013: 𝟱,𝟰𝟴𝟭%

2014: -𝟱𝟳%

2015: 𝟯𝟰%

2016: 𝟭𝟮𝟯%

2017: 𝟭,𝟯𝟲𝟴%

2018: -𝟳𝟯%

2019: 𝟵𝟮%

2020: 𝟭𝟮𝟭% (so far)

Is Bitcoin a success?

“The industry has been challenged by a lot of negativity over the years, but as time has passed, its reputation and sentiment has grown stronger.

“At what point do we call something a success? 10 years? 20 years? What if it fails in 70 years time? Would that make Bitcoin a failure? No, it would mean that it’s had its time and something better has surfaced.

“Personally, I’ve gone past the stage of treating Bitcoin like an experiment, or wondering when it will be considered a success — I already see Bitcoin as a success.

“The Bitcoin community is continuing to build a decentralised monetary future and this is only the beginning.”

With an ever-increasing demand for digital and online payments, Paypal will increase the utility and usability of cryptocurrencies by making…

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With an ever-increasing demand for digital and online payments, Paypal will increase the utility and usability of cryptocurrencies by making them available as a funding source for purchases, with nearly 26 million merchants accepting the currencies.

The service has been enabled by a partnership with Paxos Trust Company and has seen PayPal secure a first-of-its-kind conditional Bitlicense from the New York State Department of Financial Services.

With over 5,300 different types of cryptocurrencies, PayPal has been selective in its choices, and will only offer support to Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Customers will then be able to instantly convert their cryptocurrency balance to fiat currency.

In addition to this, PayPal will offer educational content which aims to help account holders understand more about cryptocurrency and blockchain, as well as the risks and opportunities associated with investing.

Dan Schulman, President and CEO of PayPal, said: “The shift to digital forms of currencies is inevitable.”

“This shift will bring with it clear advantages in terms of financial inclusion and access; efficiency, speed and resilience of the payments system; and the ability for governments to disburse funds to citizens quickly.”

“Our global reach, digital payments expertise, two-sided network, and rigorous security and compliance controls provide us with the opportunity, and the responsibility, to help facilitate the understanding, redemption and interoperability of these new instruments of exchange.”

Bitcoin’s price rise from 15th October to 22nd October

However, there are concerns from the crypto community, as customers currently cannot move the cryptocurrencies to other accounts either on or off PayPal, and PayPal will not provide customers with the private key. There will also be a transaction fee for any purchase or sale, but these have been waived until 2021.

Upon the news, Bitcoin’s price hit a record high for the calendar year, rising 13% to $12,900 on Thursday. PayPal’s share price had a similar reaction, with shares up 7% to $215.

The UK Jurisdiction Taskforce of the Lawtech Delivery Panel, chaired by Sir Geoffrey Vos, Chancellor of the High Court, has…

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The UK Jurisdiction Taskforce of the Lawtech Delivery Panel, chaired by Sir Geoffrey Vos, Chancellor of the High Court, has today published its legal statement on the status of cryptoassets and smart contracts under English and Welsh law.

The landmark statement seeks to address legal uncertainty by recognising cryptoassets as tradable property and smart contracts as enforceable agreements under English law.

Smart contracts can be used to create more secure and more efficient ways of implementing (and automating performance of) contracts between parties. This could revolutionise agreements, from mortgages and medical research to property ownership, as smart contracts automatically execute transactions and remove the need for a middle man.

For example:

  • smart contracts remove the need for expensive services in property ownership and could even enable sellers to handle transactions independently.
  • smart contracts can be applied to mortgage transactions – allowing both parties to digitally agree to the sale before processing the payment, making the process more secure and reducing the likelihood of fraud.

Not only will this legal statement be beneficial for consumers but also for investors. Cryptoassets are already demonstrating considerable traction, with the top 100 cryptoassets worth a collective quarter of a trillion dollars.[3] This statement will provide more certainty to investors in the UK market providing them with a greater understanding of their legal rights when they trade in cryptoassets.

The statement will also provide a dependable foundation for the mainstream adoption of cryptoassets and smart contracts, in particular offering a strategic boost to startups and scaleups operating in this space. The UK already has an established Blockchain ecosystem and community. London is home to more blockchain and crypto meetup members than San Francisco, Berlin and Seoul[4].

The common law system of England and Wales makes the UK well-suited to adapting to and dealing with fast-changing technologies, as well as expertly positioned to provide a sound legal foundation for their development – with 40% of all arbitration cases globally applying English and Welsh Law.

The legal statement has been drafted by Lawrence Akka QC, David Quest QC, Matthew Lavy and Sam Goodman and supported by members of the UKJT, Linklaters LLP and the respondents to a public consultation which included businesses, academics and the wider legal sector.

Chancellor to the High Court, the Rt Hon Sir Geoffrey Vos, chair of the UKJT, comments: ‘‘I am delighted to welcome the publication by the UK Jurisdiction Taskforce of a Legal Statement on the Status of Cryptoassets and Smart Contracts.”

‘‘In legal terms, cryptoassets and smart contracts undoubtedly represent the future. I hope that the Legal Statement will go a long way towards providing much needed market confidence, legal certainty and predictability in areas that are of great importance to the technological and legal communities and to the global financial services industry.’’

Christina Blacklaws, Chair of the Lawtech Delivery Panel, comments: “It is excellent to see that English and Welsh law has no issue embracing new technology – recognising cryptoassets as tradable property and smart contracts as enforceable. That this work was initiated and powered by the UKJT is a great example of how the LawTech Delivery Panel can support the growth of new technology.”

Jenifer Swallow, Director – Lawtech Delivery Panel, comments: “The worldwide smart contract market is expected to reach $300m by 2023 and the World Economic Forum predicts 10% of global GDP will be stored on the blockchain by 2027. It is great to see the adaptability of our common law system to fast-changing technology, demonstrated in this landmark legal statement from the UKJT. Tech Nation is excited to work with the Lawtech Delivery Panel on leading initiatives such as this, to support business growth, clarity in law and the evolution of new tech.”


[3] Total Market Cap: $240,471,000,000 as of 13/11/19 https://coinmarketcap.com/

[4] https://technation.io/report2019/#21-meetups

MoonX today announced the launch of its new trading technology in the UK, offering a full suite of financial software…

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MoonX today announced the launch of its new trading technology in the UK, offering a full suite of financial software and hardware systems for exchanges, brokerages, hedge funds, financial institutions and traders.

MoonX’s offering includes the world’s fastest exchange software, matching 25 million Transactions Per Second (TPS). This makes MoonX 150 times faster than its closest competitor; meaning traders can place 150 times more orders in the same time frame. MoonX processes one order in 6 nano seconds, by that time light would have only travelled 1.8 metres, making MoonX the fastest exchange in the world.

MoonX’s processing speed is delivered by its patent pending Matching Engine technology. Superior to any systems on the market, the Matching Engine produces computational and processing speed advantages which had never been achieved in the past. The exchange is built with enterprise-grade security, is hosted on physical servers, and uses AI, facial and mood recognition technology to go beyond 2-factor authentication.

MoonX is engineered by an expert team with a combined 200+ years’ experience and has an institutional client base on the likes of TPICAP and CME

In addition to its Exchange Software, MoonX also offers its clients:

  • Custodian services: In place of using traditional clearing houses and custodian services, MoonX uses blockchain technology to store data on securities transactions and for taking custody of securities, enabling greater transparency, military grade protection of assets, speed and cost efficiency. Blockchain also enables unparalleled scalability; the processing speed doesn’t slow down even at huge numbers of transactions.  
  • Wallet solution: Crafted for Stock & Commodity Exchanges, Blockchain Powered Exchanges, Forex Traders, Banks, OTC’s & Brokers.
  • Risk management system: MoonX is building a powerful AI-based financial risk automation toolkit for futures, options and leverage trading that minimises financial risk and keep businesses protected and pro-active against financial risks.
  • Security consulting services: A unique service unlike any other provider, ensuring clients have the correct controls in place to prevent exchange wallet or co-location transaction hacks.  MoonX offers security consulting services to Exchanges, Wallets, Integrators and Co-location participants.
  • NOC and SOC services: Monitoring and handling cyber security incidents with manual systems and advanced AI algorithms.  

Dr Nithin Palavalli, Founder and Chief Executive, MoonX comments:

“We observed that the flow of trading is often hindered by obsolete technology and redundant dataflow structures, used by many parts of the financial services industry.  Although, the use of blockchain technology in the financial sector is maturing. However, the underlying foundation, exchange technology has been stuck with little to no improvements, despite heavy investments.

Running an exchange on cloud only infrastructure hinders security and exponentially lowers the operational speed. There is a great need for running the exchange on bare metal servers with proprietary Gateways and Binary APIs. With our MoonX exchange and suite of solutions we are delivering speed, scalability, security and smart surveillance solutions. The speed we provide to businesses means we enhance their efficiency by bringing more opportunities for savings that too consistently for a longer period of time. We welcome institutions to explore our platform and witness transactions throughput at the lightning speed.

We are using trusted traditional financial technologies and the blockchain architecture to meet the needs of the modern financial market and enhance trading capabilities in the UK.”