Australian Civil Servant Caught Mining Crypto With Government Hardware

The Australian Federal Police (AFP) has charged a government employee alleged to have misused government IT infrastructure for personal cryptomining operations, per a press release. In the release, the AFP states that the unnamed 33-year-old man is an IT contractor with the Australian government, who took advantage of his access to “manipulate programs to use the processing power of the agency’s computer network for cryptocurrency mining.” For his effort, the report claims he earned AU$9,000 (around $6,200) from the mining operation. He was subsequently charged for the unauthorized modification of…

The Man Behind Bitcoin Pizza Day Is More Than A Meme: He’s a Mining Pioneer

Bitcoin was barely a year old and trading for less than a penny. Excitement for the world’s first cryptocurrency was still largely bottled up in the infant hobbyist forum Bitcointalk, itself barely half a year old. Here, OGs effervescent with enthusiasm compared notes on economic philosophy, technical knowledge and the new cryptographic beast that Satoshi Nakamoto created. Satoshi himself was still active on the forum, too, as the earliest adopters shared their visions for the future of money. Though, if that future was going to be realized, something was still…

Dutch Man Arrested for $111 Million Fake Mining Scheme

On March 21, 2019, Dutch news outlet NL Times reported that “Berry van M.,” a 33-year-old Dutch businessman and the operator of now-defunct trading platform Koinz Trading, has been arrested on charges of deceiving investors with a bogus bitcoin mining scheme. The report claims that van M. was the director of companies that sold “computers for mining Bitcoin” since 2017 and that he “managed the computers in a so-called ‘mining farm.’” He convinced investors that they would receive returns of 0.3 BTC per month. But when the investors did not…

Australian Advisory Firm to Launch $250 Mln Digital Securities Offering for Mining Sector

Major Australian capital advisory firm PCF Capital Group has chosen permissioned blockchain ecosystem KoreConX for a $250 million digital securities offering. The news was revealed in a press release shared with Cointelegraph on May 14. PCF Capital is a corporate advisory firm with a focus on serving clients within the mining and resource sector, and has executed 120 mine divestment and project financing mandates for over $2 billion, according to the press release. KoreConX is reportedly a permissioned blockchain ecosystem for fully-compliant digital securities. It comprises a network of broker-dealers,…

Desktop Crypto Mining App HoneyMiner Comes to MacOS

HoneyMiner, a desktop-based crypto mining application, has released a new version for MacOS users. HoneyMiner, which launched in July 2018, accesses your CPU or GPU and uses it to mine various cryptos. A central server points the connected machines at a certain target like ethereum, ethereum classic, zcash, monero and other GPU-friendly currencies. “We have over 1,400 different kinds of GPUs on our network and it’s all about routing the right computation to its most optimal use case and whichever chain is optimal,” said co-founder and CEO Noah Jessop. The…

Crypto Mining App Honeyminer Now Available on MacOS

New Jersey-based cryptocurrency mining startup Honeyminer has made its mining app available on the Apple Macintosh operating system, the firm announced in a blog post on May 9. The Honeyminer app runs in the background, using the central processing unit (CPU) and graphics processing unit (GPU) of users’ computers for mining bitcoin (BTC). The startup claims to include app features such as mining while users’ computer is idle, an activity log with current mining statistics, currencies, and hardware utilized, and withdrawals, among others. While Honeyminer is expanding its offerings, other…

Crypto Mining Firm Argo Blockchain Expects Cash Breakeven in May With New Miners

Cryptocurrency mining firm Argo Blockchain expects a breakeven following an investment in new mining equipment, according to a press release published on the London Stock Exchange’s (LSE) site on May 8. London-based Argo said that it expects a cash breakeven in May, and outlined its intention to continue to expand its mining infrastructure as hardware prices become cheaper. The company expects that 1,000 units of Bitmain Z11 miners that came into production on May 2 will improve gross margin during the second quarter. Argo further reveals that it has settled…

Cybercriminals Sneak in Crypto Mining Malware via Confluence Software Exploit

Cybercriminals are now reportedly exploiting known vulnerability CVE-2019-3396 in the software Confluence, a workspace productivity tool made by Atlassian, according to a report by security intelligence firm Trend Micro Inc. on May 7. The exploit that has been developed allows cybercriminals to stealthily install and run a monero (XMR) miner on a vulnerable computer, as well as covering up the mining activity by using a rootkit to hide the malware’s network activity and toll on the host’s central processing unit (CPU). According to an Atlassian security advisory, the vulnerability in…

‘One-Stop Shop’ for Crypto Mining and Trading to Launch Spot Market May 23

Cryptocurrency exchange and mining startup Bcause LLC is a few weeks away from launching its spot market. The Chicago-based company has tentatively set May 23 as the go-live date for bitcoin, bitcoin cash, ether, and litecoin, co-founder and chief marketing officer Thomas Flake told CoinDesk. In anticipation of the launch, it has obtained money transmitter licenses in eight states, with 20 more applications pending, Flake said. Among the first states where Bcause will be available are Illinois, Virginia, Washington and Texas. Bcause has also applied for New York’s BitLicense, but the…

Winklevoss Capital Invests in Firm Using Natural Gas to Fuel Crypto Mining Data Centers

The Winklevoss twins’ family office, Winklevoss Capital, has participated in a $4.5 million seed financing round for flare mitigation provider Crusoe Energy Systems Inc. to advance its construction of data centers that can mine cryptocurrencies. The news was reported by Bloomberg on May 3. Flare mitigation — as a Crusoe press release accompanying the seed financing round outlines — aims to reduce the environmentally noxious impact of flaring (burning off) surplus natural gas, which is in some cases used to tackle the difficulties of transporting excess gas supplies. While flaring…