Intel enters Crypto mining market and to fuel more ransomware attacks

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Intel has entered the crypto mining market by launching a low power consuming silicon wafer that is aimed at those who make money through Crypto Mining. Dubbed as ‘Bonanza Mine’ Chip and to be beta launched in February this year, Intel aims to disrupt the Bitcoin mining has rates with its new product.

Intel Bonanza Mine Processor will be unveiled first at the International Solid-State Circuits Conference (ISSCC) to be held on February 20th,2022 and will also reveal an Application Specific Integrated Circuits (ASIC) that will be supporting high processing applications such as mining digital coins.

So, as companies are offering dedicated hardware tools to generate crypto currency, it will also induce a trust into the cyber fraudsters, such as ransomware groups, their earnings market will always be merry as they will no shortage of coins generated by computers via their processing powers.

Even if a crypto transaction gets exposed to the law enforcement, they are other currency that are still anonymous and are about to be explored and used by hackers and hacking groups such as the ones spread the file encrypting malware.

Note– A ransomware is a kind of malware that offers a privilege to a cyber crook to encrypt a database until a ransom is paid in crypto currency. And to gain a sure shot momentum in their earnings, those spreading ransomware are nowadays involved in double extortion tactics where they steal a portion of data from the victimized database and threaten to sell it on the dark web if their demands go unattended.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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