Hackers Breached Amazon Web Services to Mine Bitcoin
Security intelligence group RedLock, hackers were able to breach into the Amazon Cloud providers of two firms in order to mine Bitcoin. In a recent article they noted that hackers could hack in the AWS cloud solutions‘ infrastructure of two firms to be able to mine Bitcoin. According to the security firm RedLock, both affected companies were Aviva and Gemalto. The security firm was somewhat amazed by the hack since the hackers didn’t target any sensitive data of either provider. The hackers were only interested to access the Amazon Cloud servers in order to mine cryptocurrencies by implementing a bitcoin mining command.
The report further states:
Upon deeper analysis, the team discovered that hackers were executing a bitcoin mining command from one of the Kubernetes containers. The instance had effectively been turned into a parasitic bot that was performing nefarious activity over the internet.
Hackers are usually known for breaking into electronic enterprise infrastructure in order to steal sensitive data such as social security numbers, credit card numbers, emails, passwords etc.
Cryptocurrency Mining Boom
Cryptocurrency mining is now an extremely competitive sector in the last couple of years. After the market capitalization “exploded” at 2017 and attained the record-breaking sum of $176 billion, more and more companies began mining cryptocurrencies. Bitcoin and Ethereum received the most attention out of miners, as both attained their all-time high price of $5031 and $400 respectively.
The Bitcoin mining issue increased by nearly 10 million Th/s from last year and Ethereum was able to achieve a daily hash speed of 100,000 GH/s. The Ethereum hash rate might not stay this high for very long, since the Ethereum development team is planning to transition the Ethereum protocol from Proof-of-Work to Proof-of-Stake, effectively penalizes Ethereum mining for cryptocurrency miners. Professional and analysts hope that present Ethereum miners will point their hash power to the upcoming profitable cryptocurrency.