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.
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. 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
28 December 2020
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CoinCorner’s CEO, Danny Scott, explains why he believes there is more positive growth set for Bitcoin in 2021
“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
“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.”
“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.”
“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.”
“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.”
“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.”
“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).”
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.”
22 October 2020
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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…
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.”
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.
19 November 2019
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The UK Jurisdiction Taskforce of the Lawtech Delivery Panel, chaired by Sir Geoffrey Vos, Chancellor of the High Court, has…
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.
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.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
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.
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
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
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.”
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.”
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:
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
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.
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
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.”
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