Cryptocurrency is all the buzz in 2021, and its adoption will continue to increase among young men and women, said a new report. However, women form only a small part of this growing group. In its latest findings, Indian crypto exchange Coinswitch Kuber said thatout of its user-base of 14 million Indians, only 15 per cent are women.

It should be noted that at the beginning of the year, CoinSwitch reported just over 1 million users. The findings came at a time when India is yet to table and discuss the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which aims to prohibit all private cryptocurrencies in India. However, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.

According to CoinSwitch Kuber, most of its users in India are youngsters. And on average, individuals spent 27 minutes on the CoinSwitch app engaging in either purchasing and selling crypto assets or learning about the crypto space from the platform. At the beginning of this year, the average time was 13 minutes per user.

At least 60 percent of the users fall under the age of 28 and majorly reside in Indian metro cities including Delhi, Mumbai, Kolkata, Pune, Lucknow, and Patna. Additionally, CoinSwitch claimed that they registered a 3500 per cent rise in transaction volumes. However, not every user made a transaction on the platform.

The most traded cryptocurrency assets that were traded on the platform included Bitcoin, Dogecoin, Ethereum, Polygon, and Cardano.

For WazirX, investments in cryptocurrency increased significantly in 2021, with the exchange witnessing a record trading volume of over $43 billion in 2021 accounting for over 1735 per cent growth from 2020. Bitcoin (BTC), Tether (USDT), Shiba Inu (SHIB), Dogecoin (DOGE), WazirX Token (WRX), and Matic (MATIC) were the most-traded cryptocurrency on the exchange.

According to WazirX, women traded more in Bitcoin, whereas men traded more in Shiba Inu.

Interestingly cryptocurrency was one topic that cut through the online chatter this year: cryptocurrency. People mentioned crypto 6.6 million times on Reddit in 2021, according to Reddit Recap 2021, which rounds up the most popular posts, topics, and conversations on its platform over the past year.

Meanwhile, cryptocurrencies including Dogecoin, Ethereum and Shiba Inu also topped Googles 2021 Year in Search. Dogecoin and Ethereum price were the top 10 most-Googled news stories of the past year, across the globe.

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Crypto exchange CoinSwitch Kuber says only 15 per cent of its investors are women - The Indian Express

Hackers recently took control of a group of HP-branded servers and used them to remotely mine a cryptocurrency called raptoreum, according to reports. This resulted in the compromised cluster of HP machines becoming the biggest contributor to the total mining pool of the cryptocurrency, allowing attackers to rake in $110,000 worth. The coins are said to have been mined between December 9 and December 17.

A group of HP servers operating for an undisclosed company was attacked by hackers that managed to take control of the hardware and repurpose it to mine cryptocurrency. The crypto chosen by the hackers was called raptoreum, a coin in the top 1,000 by market cap that takes advantage of an algorithm called Ghostrider, blending PoW (proof-of-work) and PoS (proof-of-stake) consensus mechanisms.

The server cluster started mining raptoreum on December 9, and at the time, it provided more hash power than all other parties combined on the Raptoreum blockchain. This allowed the attackers to rake in more than $110,000 worth of raptoreum in the period between December 9 and December 17.

The server group disappeared from the Raptoreun network on December 17, an indication that they could have been patched to eliminate the threat after it was detected.

The attack used a recently discovered vulnerability called Log4shell, which allows attackers to gain control of a system remotely. Log4shell uses Log4j, which is a registry library used widely in Apache-based systems. This vulnerability was discovered in early December, and in this case, it was leveraged to pass the execution of a crypto mining software.

The vulnerability has been classified as critical by its discoverers due to how common its utilization is, even when it comes to massive operations like Microsoft and IBM. While the software has been patched in some of its implementations, investigators are still discovering new ways in which it can be leveraged. It was recently discovered that the software is also vulnerable to local attacks, meaning that the servers can be executing code remotely without being connected to the internet.

During the first half of this year, cryptojacking attacks have decreased for the first time since 2018, according to a report titled Cloud Thread Report, issued by Unit 42, a security consulting firm. However, in a follow-up report, the firm also found that 63% of third-party code templates used in building cloud infrastructure contained insecure configurations that could lead to losing control of the hardware.

What do you think about the attack on HP-branded servers to mine raptoreum? Tell us in the comments section below.

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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HP-Branded Servers Hijacked to Mine $110000 Worth of Cryptocurrency Bitcoin News - Bitcoin News

More than fifty countries have placed bans on cryptocurrency, according to a report from the Law Library of Congress. The November report served as an update to research that was published in 2018.

Since 2018, the number of countries found to have issued cryptocurrency bans has increased significantly, the report said. As of November 2021, nine countries have placed an absolute ban on crypto, meaning that its completely illegal. Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar and Tunisia have all joined China in outlawing crypto.

China first made the decision to ban crypto trading in 2017. The country extended its ban to block crypto mining earlier this year.

42 more countries have issued implicit bans prohibiting banks, lenders and other financial institutions from dealing with crypto. These countries include Georgia, Turkey and Saudi Arabia.

The report also found that the number of countries subjecting crypto to tax laws, as well as anti-money laundering and counter-financing of terrorism laws, has jumped from 33 in 2018 to now 103. With the exception of Bulgaria, all of the member states of the European Union currently have these regulations in place.

21 countries, however, dont apply any form of anti-money laundering or counter-terrorism financing law to their crypto industries, including Brazil, Jordan, Pakistan and Kazakhstan.

In other tech news, a Sony employee allegedly stole $154 Million USD from the company and converted it to Bitcoin.

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More Than Fifty Countries Have Bans on Cryptocurrency - HYPEBEAST

In a bid to cease cryptocurrency scams, the United Arab Emirates (UAE) is passing stringent rules for crypto scammers targeting investors in the country. Cryptocurrency scammers will entail prison time for up to five years in the UAE ,as well as face penalty up to AED 1 Million (roughly R. 2 crore), starting January 2, 2022.

Crypto scams aim to gain private information such as private keyor pass codes to trick unsuspecting individuals into sending cryptocurrency to a compromised digital wallet.

As per article 48, posting misleading ads or inaccurate data online about any product will be subject to legal repercussions. The same penalty applies to members of the public who promote cryptocurrencies unrecognised by authorities in the country, said Dr. Hassan Elhais of Al Rowaad Advocates, as quoted by The National.

While the previous UAE laws banned promoting cryptocurrencies but didnt penalise it. The amendments introduced punishments against the offence, which is a first for the country. It imposes a penalty of five years in prison and/or a fine between Dh250,000 and Dh1 million against those who promote electronic currencies or fake companies to raise money from the public without a licence from competent authorities, Elhais added.

Meanwhile, a recent report by Chainalysis revealed that hackers have exploited vulnerabilities within crypto platforms or used traditional scamming methods like rug pull, mooching off over $7.7 billion (Rs 58,698 crore approx.) worth of cryptocurrency from victims in 2021.

At least 36 per cent of the victims lost over $2.8 billion (Rs 280 crores approx.) to rug pull cases. A rug pull is a malicious maneuver in the cryptocurrency industry where crypto developers abandon a project and run away with investors funds. In total, crypto scams rose by 81 percent this year from 2020 led by rug pulls, the company said in a blog post.

In August alone, hackers pulled off one of the biggest ever cryptocurrency heists stealing $613 million in digital coins from token-swapping platform Poly Network. However, the hackers returned $260 million worth of tokens in less than 24 hours.

Earlier, in November, US Federal Bureau of Investigation (FBI) had issued a warning against cybercriminals that are using Bitcoin ATMs and QR codes to defraud unsuspecting individuals. The FBI in a recently released Public Service Announcement (PSA), said that it has witnessed an increase in scammers directing victims to use physical cryptocurrency ATMs and digital QR codes to complete payment transactions.

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Cryptocurrency scammers to face five years of jail, fine in UAE - The Indian Express

Polygon (MATIC) is a fast and highly scalable Layer 2 scaling solution for the Ethereum network. It also functions as a platform for building and connecting Ethereum compatible blockchains. Polygon reduces transaction fees on the. Ethereum network, whilst also increasing the speed of transactions drastically. The protocol enables instant transactions which cost a fraction of a penny ($0.002) Polygon's scalability focus is what makes it very attractive for decentralized applications that run on the Ethereum blockchain.Polygon has acquired Zero Knowledge startup Zero Knowledge, the company developed by Polygon, to build their new project - Polygon Zero-Rollup.

Cryptocurrency & Tech Writer.

Ethereum has a scalability problem; as we all know, gas fees can get very expensive, reaching into the hundreds of dollars once the network is overrun with transactions.

Here is where Polygon (MATIC) steps in, allowing users to access Ethereum DApps without having to deal with high gas fees and slow speeds.

This post will look at why Polygon (MATIC) is a promising cryptocurrency that should be considered by any serious investor.

Polygon (MATIC) is a Layer 2 scaling solution for Ethereum. It also functions as a platform for building and connecting Ethereum compatible blockchains networks.

Polygon started out in 2019 as "Matic Network," with its main aim being to scale Ethereum. In 2021 the protocol was rebranded to "Polygon," and its vision expanded to include building and connecting Ethereum compatible blockchains.

Polygon reduces transaction fees on the Ethereum network while also increasing the speed of transactions drastically. The protocol enables instant transactions which cost a fraction of a penny ($0.002).

Polygon's scalability focus is what makes it very attractive for decentralized applications that run on the Ethereum blockchain.

Uniswap, for example, announced that they had deployed Uniswap V3 on Polygon on December 22nd, 2021.

Polygon (MATIC) uses a variety of technologies to create a fast and highly scalable Layer 2 blockchain network:

Polygon's cryptocurrency MATIC is used for the following purposes:

Defi has emerged as a popular utility for the Polygon network due to its very low fees and instant finality. This can bring a lot of adoption to Polygon, as according to Bloomberg, Defi is now an industry worth over $100 Billion.

Combine this with Polygon's ease of use, speed, and affordability, and you have a potential market leader in the making.

To use Defi apps on Polygon, users need to bridge their Ethereum assets to the Polygon network. If you want details on how to do this, I recommend reading this Polygon (MATIC) investment analysis.

Popular DeFi apps on the Polygon network include:

As mentioned earlier in this post, Uniswap V3 has also been deployed on Polygon. This will bring a large number DeFi users to the Polygon ecosystem from Ethereum, where they can take advantage of the drastically lower fees.

Polygon announced on their official blog that they acquired the Zero-Knowledge startup Mir for $400m. The Mir team is joining Polygon and using their technology to build their new project - Polygon Zero, a highly scalable, Ethereum compatible ZK-Rollup.

In my last post about ZK-Rollup cryptocurrencies, we saw how powerful narratives can be for making profits as an investor.

ZK-Rollups are gearing up to be the next big narrative in the cryptocurrency space, and Polygon looks like a great choice for investors in this narrative, and here's why:

Polygon (MATIC) has already positioned itself as a viable scaling solution for Ethereum; adding ZK-Rollups to their arsenal will further increase scalability capacities.

This, in turn, will attract more users to the protocol and increase MATIC's value.

On December 17th, 2021, Polygon announced that they had partnered with Reddit co-founder, Alexis Ohanian to launch a $200 million dollar fund to invest in social media, gaming, and Web 3.0 projects.

Polygon will team with Alexis Ohanians venture firm, Seven Seven Six, to launch the fund. The venture firm's portfolio already includes Sky Mavis, the creators of Axie Infinity.

As well as being a co-founder of Reddit, Alexis Ohanian co-founded Initialized Capital in 2010 and was a seed investor in projects including Coinbase, Patreon, Instacart, and more.

Seven Seven Six will invest in gaming, social media, and Web 3.0 projects that are being built on Polygon.

Having these platforms built on Polygon will massively increase its adoption, especially if one of those projects goes on to become very successful.

If you decide to invest in Polygon (MATIC), I recommend using a cash-based exchange platform like CEX (Available wordwide and the USA) or Bitpanda (Only available in Europe) that allows you to easily buy and sell cryptocurrencies for cash.

If you plan to hold your MATIC for the long term, I recommend getting yourself a Ledger Hardware Wallet too.

Polygon (MATIC) is a good investment choice for any serious investor, the protocol has established itself as a leading Layer 2 scaling solution and is continuously innovating and making new acquisitions.

I hope you enjoyed this story; feel free to check out the useful resources below

CEX ExchangeGood exchange to buy Bitcoin, Ethereum, Polygon (MATIC), Polkadot (DOT), Binance Coin (BNB), and more from anywhere in the world with cash.Available worldwide, including the USA

BitPanda If you live in Europe, one of the best exchanges to buy cryptocurrencies with cash, including Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), and many more. Only available in Europe

Ledger Wallets - Secure, buy and grow your crypto assets with the world's most popular hardware wallet. Buy a Ledger wallet here.

Kucoin - Great exchange where users can trade over 750 different cryptocurrencies, including new, low market cap cryptocurrencies. Available worldwide, INCLUDING the USA.

Binance - Exchange where users can trade over 500 different cryptocurrencies. Available worldwide apart from the US

You can also keep up with me onTwitter or send me an email at [emailprotected]

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Why Polygon (MATIC) Is A Good Cryptocurrency To Invest In - hackernoon.com

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London, UK, December 29, 2021 McapMediaWire Its been a turbulent year for cryptocurrency. But its not too late to invest, and if you do so wisely, there are great opportunities ahead. Investing in cryptocurrency is an unconventional strategy for retirement savings.

Heres how to do it right:

1) Get Educated

The most important thing is to know how it works and why its such a compelling investment. Cryptocurrencies are so popular today because theyre decentralised and anonymous entities that exist apart from any governmental control. Cryptocurrencies like Bitcoin and Litecoin offer investors a unique opportunity to put their money in something totally different than the traditional stock market. Also, investing in cryptocurrency can be profitable because it tends to be more volatile than the stock market. This means that compared to investing in traditional stocks, cryptocurrency has higher potential returns. However, for an investment to be successful, it will depend on how much youre willing to risk and what returns you require. You should arm yourself with more knowledge about this topic to fully understand your investment. The more knowledgeable you are, the better your chances will be of maximising returns while minimising risk.

2) Start Early

If you want to get the best returns on your investment, its better to start early. If you do not have much money right now, dont be discouraged. You can begin by buying cryptocurrency using what little money is available, or trading forex with small amounts of currency for practice before investing in larger quantities. Another option is to buy fractions of cryptocurrency. With cryptocurrencies, the smallest unit is called a Satoshi, which is one hundred-millionth of a bitcoin at todays prices. It may not sound like much but it will add up over time and soon youll have a more substantial amount that can be traded for more profit.

3) Invest Through Your 401K Plan

One of the best ways to invest is through a 401K. As long as you have an account, its easy to transfer funds from your 401K to cryptocurrency investment. This means youll be using your retirement savings with money that wouldnt normally be accessible. You can also take out loans against it, but not without penalty. However, it should be noted that any 401K funds are limited to certain types of investments, so keep this in mind when making the transfer.

Another option is to invest through an IRA. This can be done using special cryptocurrency accounts, and its relatively simple to set up. Again, the limit will depend on what types of investments are allowed in that particular account.

4) Do Not Invest More Than You Can Afford to Lose

You should never invest more than you can afford to lose without jeopardising your daily life. Its important to think like this because cryptocurrency is notoriously volatile and can go up and down in price very quickly. If you invest more than you can afford to lose, its impossible not to worry about losing money as soon as the price drops. You should only invest what youre willing to sacrifice for your retirement savings.

5) Remain Diverse

Its important to not put all your eggs in one basket. This is especially true for cryptocurrency, which holds the possibility of radical highs and lows. You should never put all your money in one cryptocurrency because if it fails, you stand to lose everything. While you may be tempted to invest in Bitcoin if you want to sleep well on your way to retirement, diversify your portfolio. This can also mean investing in stocks, bonds, and other traditional investment vehicles in addition to cryptocurrency. Diversification is the key to success when investing in cryptocurrency and other assets.

6) Dont Be Afraid to Ask for Help

Are you confused about how to invest in cryptocurrency? Are you unsure of what strategies to use for the best returns on your investments? That doesnt mean that you shouldnt try. You can ask professionals or experts that are knowledgeable about cryptocurrency for advice. They may be able to guide you through the process, point out mistakes, and help manage your portfolio. Its important to retain the services of someone with investment experience as they may be able to provide you with information that you dont have.

Cryptocurrency is a new type of asset, and its been receiving a lot of attention from investors. For some, it has proven to be a worthwhile investment for retirement savings. Hopefully, the tips found here will help you set up a portfolio that will give you the highest returns.

Our news is also shared onGoogle News,Street Insider,Mcap MediaWire,NewsEdge (by Moodys)andStocks News Feed.

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North Korea has hacked USD 1.7B of crypto and views the loot as a long-term investment. Experts say that Pyongyang is going long on its take of tokens, rather than quickly trading them for cash.

According to Newsis and Chosun, the US federal government prosecutor issued statements saying that North Korean hackers have been conspiring with other money-laundering criminals to steal crypto-assets from at least three digital asset exchanges before laundering the proceeds.

According to data from Asan Institute for Policy Studies (AIPS), a US blockchain firm that analyses the crypto market and is headquartered in South Korea, there have been different cases of cryptocurrency exchange attacks. The attacks connected to North Korea include the Slovenian platform attack in 2017, the Indonesian raid in 2018, and the latest York hack in 2020.

Both the South Korean authorities and US experts blame Pyongyang for the 2017 attack on Bithumb and a $281 million attack on KuCoin. Seoul also claims the North was behind the attack of South Korea-based YouBit crypto exchange, which closed after the second attack.

In 2018, experts in Seoul and Washington insisted Pyongyang trained 20 cyber warriors and commanded them to storm western and western-associated cryptos with impunity.

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The big challenge facing North Korea now is to liquidate their stolen cryptocurrency. Their tactics typically involve moving coins to different wallets-like changing from Ethereum to bitcoin. North Koreans tactics keep developing with time.

The peel chain tactic involves moving money in fast and automated transactions from one bitcoin wallet to a new address through hundreds or even thousands of transactions. They do this in a way to both hide the source of money and lessen the risk of indicating red flags.

The Asan Institute for Policy Studies (AIPS) Senior Research Fellow, Koh Myung-hyunat, said: Considering the fact that the price of bitcoin (BTC) has risen over 60 times since 2017, when North Korean hackers started hacking cryptocurrency exchanges, North Korea is using the stolen cryptocurrency from the perspective of long-term investment. For North Korea, cryptocurrency has become the only financial asset that can be gained while it is under tight economic sanctions, and [recognizes its value] for sanctions evasion-related purposes.

Finally, after monetizing the tokens, North Korea wants to use the money to put up an eagerly awaited coastal tourist attraction and a new general hospital in the capital.

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North Korea has hacked $1.7 billion worth of cryptocurrency from exchanges, considers it a long-term investment - BanklessTimes

New Delhi: As the cryptocurrency market is booming and attracting new investors every day, have you ever wondered that what is Bitcoin or crypto mining? How to own coins without purchasing them from the crypto exchanges?

In laymans terms, there is no physical existence of any cryptocurrency but they have a value like any other legal tender of any nation and can be easily exchanged within groups or individuals. The Year 2021 made many new crypto fans and investors. This year also saw a fast rise of cryptocurrencies such as Bitcoin, Ether, and Dogecoin but the best is yet to come.

The majority of the traders buy and sell crypto through exchanges but it is also possible to mine the coins by using powerful computer systems which solve complex mathematical equations.

Most of the cryptocurrencies are made using Blockchain which is also known as the public ledger. It is being secured by using complex encryption techniques and getting new tokens on the ledger involves solving many composite mathematical puzzles which help in verifying virtual currency transactions. It is then updated on the decentralised blockchain ledger and in return for this work the miners get paid with the cryptocurrency.

This complex process is called mining and miners are an essential part of this ecosystem.

How does it work?

Powerful computers solve some complex mathematical equations. The first person termed as coder cracks each code to authorize the transaction and in return for this service miner will earn a small amount of the token. Once the mathematical problem is solved and verified, the data will be added to the public ledger, called theblockchain.

How much can it cost to mine crypto coins?

In 2009, when Bitcoin and some other coins came into existence it was a profitable activity as the miners would easily get 50 BTC, which were worth almost $6,000, for solving each equation.

Although the reward to mine Bitcoin decreased over time as the value of each BTC increased significantly. As per reports, the reward to mine a Bitcoin is $3,33,000 (roughly Rs. 2.47 crores).

But the cost of Bitcoin mining has increased dramatically. This is because the competition for tokens is much higher, and high-performance computing is now required to successfully mine the tokens. As a result, the cost of the energy consumed in this process could be huge depending on the miners location and the type of hardware they use.

Can you start mining at home?

For mining any cryptocurrency, you will need a high-performance computer, a wallet for that crypto. After this, you can join a mining pool to maximise profitability. Pool group of miners can combine their resources to increase the overall mining power and the profit will be distributed evenly to all members in the pool.

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What is cryptocurrency mining? How does it work? - Newsroompost

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About 71% Indians have low or zero trust in cryptocurrencies, according to a recent survey by LocalCircles. The survey added that 54% do not want the government to legalise cryptocurrencies but want them taxed on par with digital assets held abroad.

The community social network said the survey results were based on 56,000 citizen responses from 342 districts of India, received over the past 15 days.

The Centre plans to introduce a Bill to regulate cryptocurrency and ban all private cryptocurrencies in the winter session of Parliament that begins on November 29. The bill also seeks to create a facilitative framework for creation of an official digital currency to be issued by the Reserve Bank of India (RBI).

As per the survey, families of 87% of the respondents do not have anyone trading or investing in cryptocurrencies and 54% do not want the government to legalise cryptocurrencies but tax them like a digital asset held abroad. About 26% say they should be legalised and then taxed in India, LocalCircles said in a release. The study also finds that 51% of the respondents support India rolling out its own digital currency which is managed by the RBI while 26% are against the same. This indicates that the Central Bank Digital Currency (CBDC) would be a more trustworthy investment, it added.

LocalCircles will be sharing the findings of this study with the senior leadership of Government of India, the RBI leadership and all Members of Parliament such that public feedback on cryptocurrencies can be given the due consideration as laws related to it are finalised, said Sachin Taparia, founder, LocalCircles.

The findings show that the Central Bank Digital Currency is seen as more trustworthy

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