Cyber security has been one of the over looked topic since the development of web 1.0. Since the announcement of the web 3.0 and the increasing rate of digitalisation, I feel it's something we should critically look into.
No matter how secured your block chain would be frequent checks on your network's security structure are of a necessity;these activities include updating anti-virus software, malware defenders and also patching of security systems.
As crypto currency flourishes, something we need to have in mind is the security of your assets on your blockchain. According to the findings, decentralised finance projects and decentralised anonymous organisation projects are prone to these malware application attacks than smart contacts.
It was reported yesterday that there was a hack in a Badger (DAO) decentralised anonymous organisations project. it was estimated that 120 million USD was reported lost in these attacks, this was reported by the user earlier in the day. The aftermath of this activity was disastrous as investors lost their investment.
The Monero malware attack has been of concern now since it was first reported as another variant of the Tor2Mine for currency mining.
The way this malware works is it looks for loop holes in network security systems, especially on computers or severs which has not had their anti virus or anti malware security software patched.
Once the monero malware has been installed in the system, it quickly looks for another system that can quickly install the monero crypto miner.
When this malware gets into the Network system it is quite difficult to get rid of without the assistance of an anti-malware or anti-virus software.
The Malware application infects as many systems or servers as possible for the attack to be possible, when it enters your system it looks for the next available system in which he can establish its activities. When a system or server is affected by this mining malware application, it increases its processing power there by reducing its performance which simply plays like the server is mining crypto currency which affects the electricity bill.
Monero token XMR which lunched it’s mainnet in 2014 with it's striving community it was racked as the third largest behind bitcoin and Etherum.
It has been an incredible journey so far for the development team which made it racked 43 according to coin market cap (CMC) with a trading volume of $208,087,811.72 since the last twenty four hours with it all time high at $243.03 and it's all time low and it's market cap at $4,370,765,292.48.
