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2020 Global Insights into Cloud Robotics, DigitalTwins, Teleoperation and Virtual Reality to 2025 – Benzinga

April 17, 2020 | Author: admin

Dublin, April 17, 2020 (GLOBE NEWSWIRE) -- The "Human-Robot Cooperation Market: Cloud Robotics, DigitalTwins, Teleoperation, and Virtual Reality 2020 - 2025" report has been added to ResearchAndMarkets.com's offering.

The convergence of cloud robotics, digital twin technology, teleoperation, and virtual reality will enable a level of human-to-robot collaboration. This research evaluates each of these technologies and solutions including their use in next-generation robotics and automation.

This research assesses the cloud robotics market including technologies, companies, strategies, use cases, and solutions. The report provides global and regional forecasts for cloud robotics apps, services, and components. Forecasts include the market outlook for cloud services support of cloud robotics including Infrastructure as a Service (IaaS), Platform as a Service (PaaS), Software as a Service (SaaS), and Robotics as a Service (RaaS). Forecasting for cloud robotics by robot type and deployment model is also included covering Public Cloud, Private Cloud, Hybrid Cloud, and Community Cloud.

This research also evaluates the emerging role of teleoperation and telerobotics in the era of Industry 4.0. The report analyzes the impact of teleoperation and telerobotics solutions in different industry verticals and technology sectors. It also provides market forecasts for IIoT teleoperation and telerobotics systems, services, and solutions. It also evaluates the role of digital twin technology in teleoperation and telerobotics.

This research also evaluates digital twinning technology, solutions, use cases, and leading company efforts in terms of R&D and early deployments. It assesses the digital twin product and service ecosystem including application development and operations. The research also analyzes technologies supporting and benefiting from digital twinning. It also provides detailed forecasts covering digital twinning solutions in many market segments and use cases including manufacturing simulations, predictive analytics, and more.

This research also provides an in-depth assessment of the virtual reality market including analysis of VR ecosystem and role of value chain partners, evaluation of recent VR patent filings and intellectual property, and analysis of current price metrics VR devices, apps, and content. It provides an assessment of key VR companies and solutions with SWOT analysis, analysis of emerging business models and evolution of VR monetization, analysis of VR component market: devices, software, hardware, platforms. It also presents key VR growth drivers, market challenges, and emerging opportunities.

Cloud robotics is distinguished from the general field of electromechanical automation through its use of teleoperation as well as reliance upon various cloud computing technologies such as computing and storage as well as the emerging cloud-based business models enabling robotics-as-a-service. In addition, cloud robotics will benefit greatly from edge computing technologies, such as Mobile Edge Computing (MEC), as well as commercial introduction of 5G New Radio (5GNR) technologies based on millimeter-wave (mmWave) frequencies.

Teleoperation represents the ability to operate equipment or a machine from a distance. A specific form of teleoperation involving remote control of a robot from a distance is referred to as telerobotics. Teleoperation and telerobotics are both supported by ICT infrastructure including broadband communications, sensors, machine to machine (M2M) communications, and various Internet of Things (IoT) technologies.

A digital twin is comprised of a virtual object representation of a real-world item in which the virtual is mapped to physical things in the real-world such as equipment, robots, or virtually any connected business asset. This mapping in the digital world is facilitated by IoT platforms and software that is leveraged to create a digital representation of the physical asset. The digital twin of a physical asset can provide data about its status such as its physical state and disposition.

Conversely, a digital object may be used to manipulate and control a real-world asset by way of teleoperation. The publisher of this report sees this form of cyber-physical connectivity, signaling, and control as a key capability to realize the vision for Industry 4.0 to fully digitize production, servitization, and the "as a service" model for products.

Virtual Reality (VR) technology and applications will undergo a substantial transformation during the pre-5G era, leading to mass adoption of full-featured, mobile supported, and fully immersive VR technologies in post-5G era starting 2020 (along with the commercial deployment of 5G). 5G is expected to reduce network latency significantly, which will enable many previously tethered-only applications and services such as streaming remote robotic controls and teleoperation via haptic or tactile communications, and 360-degree virtual reality-based user interfaces and controls.

Target Audience:

Select Findings:

Key Topics Covered:

Cloud Robotics Market by Technology, Robot Type, Hardware, Software, Services, Infrastructure and Cloud Deployment Types, and Industry Verticals

Teleoperation and Telerobotics: Technologies and Solutions for Enterprise and Industrial Automation

Digital Twins Market by Technology, Solution, Application, and Industry Vertical

Virtual Reality Market by Segment (Consumer, Enterprise, Industrial, Government), Equipment (Hardware, Software, Components) Applications and Solutions

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/r/csqn1f

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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Democrats sound the alarm on White House’s ‘refusal to cooperate’ in JEDI investigation – FedScoop

April 17, 2020 | Author: admin

Written by Billy Mitchell Apr 17, 2020 | FEDSCOOP

Several Democrats on Capitol Hill have condemned the White House for not openly participating in an inspector generals investigation of the militarysJoint Enterprise Defense Infrastructure (JEDI)commercial cloud contract.

TheOffice of the Inspector General issued along and sweeping reporton its nearly yearlonginvestigation into the $10 billion JEDI contract, which the Pentagon awarded to Microsoft last fall. In it, theDepartment of Defensewatchdog found evidence of ethical misconduct and the improper sharing of proprietary information with competing companies, among other things.

The part that didnt sit right with Democrat lawmakers, however, was the White Houses refusal tospeak with the IG regardingthe Trump administrationsalleged inappropriate interference with the contract evaluation and award process a claim that is at the heart of losing bidder Amazon Web Services ongoingprotest of the contract.The White Housedid not allow staff to speak with investigators, claiming presidential communications privilege, and the Pentagons general counsel instructed senior DOD leaders not to discuss any communications they may have had with the White House.

Despite that, the IG determined the evidence we received showed that the DoD personnel who evaluated the contract proposals and awarded Microsoft the JEDI Cloud contract were not pressured regarding their decision on the award of the contract by any DoD leaders more senior to them, who may have communicated with the White House,

This led many lawmakers and other experts to questionhow the IG could determine with crystal-clear certainty that the White House didnt, in fact, taint the contracts award to Microsoft. Even the IG says in its report: We could not definitively determine the full extent or nature of interactions that administration officials had, or may have had, with senior DoD officials regarding the JEDI Cloud procurement, which prevented it from reviewing the matter fully.

Rhode Island Sen. Jack Reed, thetop Democraton theSenate Armed Services Committee, called the report troubling and incomplete.

It offers yet another example of the presidents efforts to inappropriately pressure federal agencies, Reed said. He went as far as to suggest that President Trumps recent removal of acting DOD Inspector General Glen Fine had to do with his tough probing of Pentagon matters, such as this one. Mr. Fines removal now appears connected to his willingness to do his job and ask hard questions.

Rep. Adam Smith, chairman of the House Armed Services Committee, told FedScoop the reports findings that DOD personnel werent pressured is good news. However, the White Houses refusal to participate in the investigation makes it impossible to know if the administration attempted to interfere at a high level,the Washington state Democrat said.

Unfortunately, the reports findings are stained by the White Houses refusal to cooperate in this investigation by once again invoking broad claims of executive privilege, Smith said. This administrations complete disregard for independent oversight is further highlighted by the Presidents recent firing of the Departments acting Inspector General. I commend the Inspector General for completing a thorough inquiry under challenging circumstances and I look forward to the Department moving forward in development of critical cloud computing infrastructure.

Smiths minority counterpart Rep. Mac Thornberry, R-Texas, didnt touch on the White Houses involvement in the investigation. The JEDI program is vital to our national security, he told FedScoop in an emailed statement. Now that the IG report is complete, it is imperative DOD move forward.

Rep. Adam Schiff, D-Calif., said the matter is corruption is in plain sight, while pointing out Trumps well-documented disdain for Amazon and its owner Jeff Bezos.

When hes not firing Inspector Generals, Trump is obstructing their investigations. Here, hes hiding communications about a DOD contract for Amazon, a company Trump has repeatedly tried to punish because its founder owns the Washington Post, Schiff tweeted.

FedScoop reached out to other top Republicans on the Armed Servicespanels but they declined to comment.

The Pentagon took the report to be a final blow surrounding the JEDI cloud saga.The Inspectors General final report on the JEDI Cloud procurement confirms that the Department of Defense conducted the JEDI Cloud procurement process fairly and in accordance with law, a Pentagon spokesperson told FedScoop in an emailed statement. This report should finally close the door on the media and corporate-driven attacks on the career procurement officials who have been working tirelessly to get the much needed JEDI Cloud computing environment into the hands of our frontline warfighters while continuing to protect American taxpayers.

The same day as the reports release, Microsoft published an official blog post attributed to Jon Palmer, deputy general counsel, in which he fired shots at Amazon for its continued protest of the contract. Amazon did build its pricing for the entire procurement, and it wasnt good enough to win, Palmer writes. And now it wants a re-do. Thats not good for our war-fighters. Thats not good for confidence in public procurement. Thats not good for anybody but Amazon.

Amazon, however, has more questions than answers after the release of the IGs report.

This report doesnt tell us much. It says nothing about the merits of the award, which we know are highly questionable based on the Judges recent statements and the governments request to go back and take corrective action, an AWS spokesperson told FedScoop. And, its clear that this report couldnt assess political interference because several DoD witnesses were instructed by the White House not to answer the IGs questions about communications between the White House and DoD officials. The White Houses refusal to cooperate with the IGs investigation is yet another blatant attempt to avoid a meaningful and transparent review of the JEDI contract award.

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Embracing the computing power of Azure – ITWeb

April 17, 2020 | Author: admin

Paul Morgan

South African companies can start realising significant business benefits now by utilising the high-performance computing capabilities of the locally available Microsoft Azure data centres even if they havent migrated any data to the cloud yet!

There is a range of capabilities available in Azure that simply do not exist in an on-premises environment at an equivalent price point such as enterprise scale artificial intelligence. An organisation can easily get access to high-end computational services, such as Azure Databricks (an Apache Spark-based analytics platform), capable of running complex machine learning scripts at incredibly high speeds that would be cost-prohibitive using on-premises systems.

Furthermore, these services can be turned on and off whenever required. The client, therefore, only pays for usage and there are no expenses associated with servers sitting idle.

However, although its not necessary to have the bulk of organisational data in the cloud for this type of activity, there will be costs associated with continually transferring terabytes into Azure for computation. At Altron Karabina, we therefore believe the time is right to start moving corporate data into the local Azure cloud permanently the platform has definitely proved itself.

Driving innovation

The likes of AI, automation, real-time data analysis and other sophisticated technologies available through local Azure data centres will definitely make it easier for companies to embrace innovation.

Today, decision-makers have a variety of options available to them to extract business value. While it is possible for organisations to develop solutions completely from scratch, they can also use pre-built Azure services to add value. For example, Azure Cognitive Services are able to provide pre-trained models for facial recognition, text sentiment analysis and speech-to-text services, among others. A facial recognition capability can be built into a standard office application by a developer who has absolutely no idea of the deep neural networks that are required to make an AI service work. This allows innovative ideas to be delivered without needing to employ all the skills needed to create them.

This means companies can start embracing Azure now for competitive advantage. They dont need to procure expensive software or hardware, and they dont need to employ huge teams of AI specialists to start delivering innovative solutions now.

Putting into practice

A local example of this type of innovation thinking was recently deployed at one of Altron Karabinas clients in the insurance sector. The business required a way to fast-track call centre e-mails where the customers tone and language indicated frustration or annoyance. Using Azure Cognitive Services combined with robotic process automation (RPA), Altron Karabina worked with Microsoft and the client to automate the process as e-mails arrive. In essence, the process identifies the probability of the customer being highly upset, based on their e-mail content, and flags it accordingly. The business also wanted to classify claims based on attached images. Azure Cognitive Services Image Recognition was used in this case; if a claim came into the call centre with photographs attached of a damaged car, rules were applied to identify the picture and push it through the vehicle claims workflow mechanism.

Experimentation required

Even if a company is hesitant to migrate all its data to the cloud, it is possible to start exploring a few aspects of Azures high-performance capabilities and what the impact can be to the organisation. Even at an individual level, a person could use Azure Databricks to analyse their personal credit card payments and sort them into different categories at a limited cost. The cloud can therefore work effectively for tiny things or a very complicated business process.

This year, the expectation is that more companies and people will start using AI for high-innovation projects. All of this is possible through high-performance computing, available locally now in Azure.

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Facebook’s vision for a new cryptocurrency gets watered down as it attempts to woo regulators – CNBC

April 17, 2020 | Author: admin

A "Zuck Buck" is displayed on a monitor as David Marcus, the executive leading Facebook's blockchain initiative, is questioned by U.S. lawmakers in Washington, D.C., on July 17, 2019.

Andrew Harrer | Bloomberg | Getty Images

Facebook's cryptocurrency project is taking a new, scaled-down approach as transactions increasingly take place online during the coronavirus pandemic.

The Libra Association, an independent group organized by Facebook to manage the libra crytocurrency, said it now plans to offer stable coins backed by just one nation's currency in addition to its coins backed by multiple currencies. That means some coins offered by the group would serve as the equivalent value of a U.S. dollar or a Euro, for example. The change comes after Facebook's plans for libra were shot down by lawmakers around the world who worried about a company with a history of privacy scandals having control over their citizens' resources.

The move represents a big change for libra, which Facebook originally pitched last year as an alternative global system that would make it easier to make digital payments no matter where in the world you are. The new proposed design for libra would make it more like standard digital payments services such as PayPal.

The change also could ease some concerns among U.S. lawmakers who feared the new currency could compete with the U.S. dollar. The Libra Association also said it's taking steps to make the currency more secure and safeguard it from illegal activity like money laundering.

David Marcus, the Facebook executive and former PayPal president who spearheaded the cryptocurrency initiative and is now a member of the Libra board, addressed the changes in a series of tweets Thursday.

"I keep on thinking about all the people and small businesses that could benefit from the Libra Network already being operational especially now during these times of unprecedented hardship," he wrote.

Marcus said the group is now fully funded by its members, with less than 10% of that funding coming from Facebook.

The Libra Association has seen a significant change in its makeup since the project was first announced. A slew of payments companies, including Visa, MasterCard and PayPal, abandoned the project following government scrutiny. After losing eight of its original members, Shopifyand crypto start-up Tagomijoined the Libra Association in February.

It's still unclear if the changes announced Thursday will be enough to sway regulators and policymakers in favor of the project. U.S. congressmen pressed Marcus and CEO Mark Zuckerberg in a series of hearings last year, even asking them to halt plans for the currency altogether until they could come up with a proper regulatory framework. The executives only said they would wait to launch until they got approval from who they deemed were the appropriate U.S. regulators.

Rep. Sylvia Garcia, D-Tex., a member of the House Financial Services Committee that grilled Zuckerberg at a hearing about libra last year, does not seem entirely convinced by the new framework.

"Facebook and the Libra Association had an opportunity to address the concerns I and my other colleagues raised with their initial whitepaper," Garcia said in a statement Thursday. "Unfortunately they chose not to listen to the bipartisan concerns raised about Libra.I will continue to work to make sure that the SEC regulates any such asset as the security that it is under current securities laws."

The group is now waiting on regulatory guidance from the Swiss government. Libra said Thursday it had started the payment system licensing process with the Swiss Financial Markets Supervisory Authority (FINMA).

FINMA said in a statement Thursday that Libra's application "differs considerably from the project originally submitted." FINMA said it's committed to coordinating with international partners during its evaluation of the project due to its global implications. It said it has been working closely with theSwiss National Bank and more than 20 supervisory authorities and central banks around the world.

"FINMA will give special consideration to whether strict national and international standards for payment infrastructures and also for combating money laundering can be upheld," according to the statement.

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Ripple Poised to Sell XRP for 21 More Years Heres How Much Cryptocurrency the Payments Startup Has Sold So Far – The Daily Hodl

April 17, 2020 | Author: admin

The San Francisco-based cross-border payments company Ripple is set to continue selling XRP for the next 21 years.

Ripple owns more than half of the total supply of 100 billion XRP and set up an escrow program in 2017 to manage its sales.

According to a new report from XRPArcade, an independent media source covering the cryptocurrency, Ripple has sold an average of 196 million XRP per month since December of 2017. At that rate, the company will continue its sales until April of 2041.

A total of 5.5 billion XRP has permanently left Ripples escrow wallets, which indicates the company has sold a total of $1.03 billion worth of XRP at time of publishing.

A known Ripple wallet that is used to distribute XRP to third parties has remained highly active and sent 75,202,210 XRP to wallets of unknown origin in February.

Ripple, which is set to release its XRP Markets Report for the first quarter of 2020 by the end of April, has slowed its sales of the third-largest cryptocurrency in recent months.

In the fourth quarter of last year, the company says it sold 13.08 million XRP directly to institutional players in over-the-counter transactions. The company did not sell any XRP on crypto exchanges.

A Ripple-owned wallet used exclusively for selling its holdings to institutions, however, has remained highly active in the month of February, sending 75,202,210 XRP worth $17 million to wallets of unknown origin.

Ripple will reveal the exact amount of XRP sold when the company releases its first quarter recap on its movements of the crypto asset.

Featured Image: Shutterstock/coloursinmylife

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Ripple Poised to Sell XRP for 21 More Years Heres How Much Cryptocurrency the Payments Startup Has Sold So Far - The Daily Hodl

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Cryptopia: High Court decides cryptocurrency is property and it was held on trust for account holders – JD Supra

April 17, 2020 | Author: admin

Updated: May 25, 2018:

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Analysis of COVID-19-Cryptocurrency Mining Hardware Market 2019-2023 | Popularity of Mining Pools to Boost Growth | Technavio – Business Wire

April 17, 2020 | Author: admin

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the cryptocurrency mining hardware market, and it is poised to grow by USD 2.7 billion during 2019-2023, progressing at a CAGR of 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request Latest Free Sample Report on COVID-19 Impact

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Advanced Micro Devices, Inc, Baikal Miner, Bitfury Group Limited, BitMain Technologies Holding Company, and Canaan Creative CO., LTD. are some of the major market participants. The popularity of mining pools will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The popularity of mining pools has been instrumental in driving the growth of the market.

Cryptocurrency Mining Hardware Market 2019-2023: Segmentation

Cryptocurrency Mining Hardware Market is segmented as below:

To learn more about the global trends impacting the future of market research, download the latest free sample report of 2020-2024: https://www.technavio.com/talk-to-us?report=IRTNTR31208

Cryptocurrency Mining Hardware Market 2019-2023: Scope

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. Our cryptocurrency mining hardware market report covers the following areas:

This study identifies the use of smartphones and applications to mine cryptocurrency as one of the prime reasons driving the cryptocurrency mining hardware market growth during the next few years.

Cryptocurrency Mining Hardware Market 2019-2023: Vendor Analysis

We provide a detailed analysis of vendors operating in the cryptocurrency mining hardware market, including some of the vendors such as Advanced Micro Devices, Inc, Baikal Miner, Bitfury Group Limited, BitMain Technologies Holding Company, and Canaan Creative CO., LTD. Backed with competitive intelligence and benchmarking, our research reports on the cryptocurrency mining hardware market are designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.

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Cryptocurrency Mining Hardware Market 2019-2023: Key Highlights

Table Of Contents:

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: MARKET LANDSCAPE

PART 04: MARKET SIZING

PART 05: FIVE FORCES ANALYSIS

PART 06: MARKET SEGMENTATION BY PRODUCT

PART 07: CUSTOMER LANDSCAPE

PART 08: GEOGRAPHIC LANDSCAPE

PART 09: DECISION FRAMEWORK

PART 10: DRIVERS AND CHALLENGES

PART 11: MARKET TRENDS

PART 12: VENDOR LANDSCAPE

PART 13: VENDOR ANALYSIS

PART 14: APPENDIX

PART 15: EXPLORE TECHNAVIO

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Analysis of COVID-19-Cryptocurrency Mining Hardware Market 2019-2023 | Popularity of Mining Pools to Boost Growth | Technavio - Business Wire

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Akon wants his cryptocurrency to power the whole of Africa – Decrypt

April 17, 2020 | Author: admin

Akon, the rapper-turned-crypto entrepreneur whos building an entire city in his own name in Senegal, announced today that yet another African city will run on his cryptocurrency, Akoin.

Akoin, which is currently in beta and will launch later this year, will power the Mwale medical and technology city (MMTC), a $2 billion science and tech hub in Western Kenya. MMTC is the Hamptons of New York in Kenya, according to a 2018 promotional video that describes the vision of its creator, Julius Mwale.

At the center of the city, which houses 35,000, is a 5,000 bed hospital called Hamptons Hospital. The hospital is surrounded by thousands of homes, resorts, retail outlets and a 36-hole golf resort. The plan is to rework all of the citys payments systems, which currently process 50 million transactions each year, so that they support Akoin.

Why got to all of the bother? I wanted to create something special for African citizens, especially financially, and give them a currency that they can trust and also utilize on a day to day [basis], Akon, who is of American and Senegalese descent, told a Zoom call full of journalists attending the virtual Blockdown 2020 conference.

Akon said his dream is for Akoin to be the future currency for the continent and all the developing countries around the world.

To kick things off, Akoin, which is based on Stellar, will also power the $10 billion Akon City. Construction on the city started in March 2019, and the city is now 85% complete, Mwale told the Zoom call. From there, the skys the limit: We expect the Akoin platform will exclusively run for about 70% of Africa, said Mwale.

Akon, real name Aliaume Damala Badara Akon Thiam, told journalists from his residence in Atlanta that his aspiration is for Akoin to be the future currency for the continent and all the developing countries around the world.

Not now, obviously: smartphone penetration in Kenya is roughly 21%, according to Newzoo's 2018 Global Mobile Market Report, and Senegals is 19%, according to its 2015 edition. Only some Akoin transactions can be processed though so-called dumb phones.

Although those who willingly surrendered their land to Mwale for the construction of MMTC are now virtually millionaires, according to the promotional video, most Africans wont be able to make the most of Akoin.

But my vision for Akoin is the future, Akon told Decrypt. It's not so [much] about what's happening right now, because I know once Akoin is in effect, and we're moving it in the areas that we're moving in...its going to grow very rapidly.

Once enough people come online, people will see how easy it is to navigate within the system, and obviously that will help to integrate it within their lives, he said. Thatll speed up adoption, Akon said. But until the majority of the continent uses smartphones, Akoins full functionality is reserved for those residing in the Hamptons of Africa.

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Akon wants his cryptocurrency to power the whole of Africa - Decrypt

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Can we protect against cryptocurrency theft? – SecurityBrief Asia

April 17, 2020 | Author: admin

Article by Yubico Asia Pacific & Japandirector of solutions engineering, Alex Wilson.

The cryptocurrency market attracts a huge number of investors and everyone hopes to get the highest returns possible. Bitcoin has so far been the most successful virtual currency, but has seen its value rise and fall dramatically over the past few years. Price volatility has undoubtedly been one of the most significant challenges facing all cryptocurrencies, but the other is security.

Over the years, digital thieves have stolen millions of dollars worth of cryptocurrency from both exchanges and wallets. The problem is that once cryptocurrency is stolen, there is no refund like there is with a bank or credit card company, and governments offer no protection for users. For some, this makes cryptocurrency too risky of an investment.

There is a very real vulnerability of cryptocurrency exchanges and bitcoin wallets when it comes to hacking attacks and theft: SIM swapping. Recent events have shown that millions of dollars worth of cryptocurrency can be lost with just one attack. The current state of SIM spoofing attacks, where a mobile phone number is taken over by an attacker, means that when a two-factor authentication (2FA) code is sent via SMS it can be intercepted by an attacker to access and steal vast sums of cryptocurrency. Its a silent but oftentimes catastrophic attack and there is very little anyone can do about it.

Such sophisticated attacks are now a reality bolstered by the increasing use and value of cryptocurrency accounts and these highly reported thefts have stunned currency traders across the globe. In turn, its spawning an industry uptick in stronger two-factor authentication (2FA) methods.

WebAuthn, the new W3C open standard for web authentication, is gaining particular traction within the cryptocurrency space and for good reason. WebAuthn is supported by all major browsers and operating systems and depending on the options a service enables, it allows traders to add a biometric device or physical security key as an additional authentication method. Whereas a one-time code sent via phone or email could be easily intercepted by a remote attacker, a fingerprint (biometric) or security key must be physically present to permit a user to log in.

Motivating traders to use WebAuthn isnt difficult. The ability to foil SIM hijacking and other attacks that use fraudulent credentials are reason enough to select a fingerprint or security key as the preferred method of account protection. With these, credentials are much more difficult to forge. And if there needs to be further convincing, usability is unparalleled. Both biometrics and security keys are able to be self-registered, and only take seconds to log in.

Given the lack of regulation and protection for cryptocurrency, it would seem a no brainer that cryptocurrency platforms employ WebAuthn to offer traders peace of mind with a simple and easy solution.

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Can we protect against cryptocurrency theft? - SecurityBrief Asia

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Google Removes 49 Phishing Extensions That Steal Cryptocurrency Data – Cointelegraph

April 17, 2020 | Author: admin

Google recently removed 49 phishing Google Chrome web browser extensions after receiving reports about their activity.

Harry Denley, director of security at cryptocurrency wallet startup MyCrypto, explained in an April 14 Medium post how he got the extensions removed from Chromes store within 24 hours with the help of phishing-specialized cybersecurity firm PhishFort.

The removed extensions include ones that targeted the owners of hardware wallets produced by Ledger, Trezor and KeepKey, and users of software wallets Jaxx, MyEtherWallet, Metamask, Exodus and Electrum.

The extensions triggered the users to enter the credentials needed to access the wallet such as mnemonic phrases, private keys and keystore files and sent them to bad actors. Hackers were then able to steal the crypto assets contained in the wallets.

Some of the extensions also had fake five-star ratings in the Chrome extension store, but the reviews contained little to no info ranging from good, helpful app to legit extension.

One of the extensions reportedly had the same review copied and pasted eight times by different users. The copypasta included an introduction to Bitcoin (BTC) and explained why MyEtherWallet the extensions targeted wallet was the preferred wallet option. It is worth noting that MyEtherWallet does not actually support Bitcoin.

The investigation uncovered 14 control servers behind all the extensions, but fingerprinting analysis revealed that some of the servers were managed by the same bad actors, with the oldest domain being linked to many other control servers. Denley subsequently concluded that the same bad actors were behind most of the extensions.

Some of the domains used in the phishing campaigns were relatively old, but 80% of them were registered in March and April 2020. Most of the extensions were published on Chromes store this month.

This is not the first time that the community has discovered a malicious Google Chrome browser extension targeting crypto users. As Cointelegraph reported in late March, a Redditor warned the community that he lost some crypto assets after falling victim to a fake Ledger extension.

Google Chrome extensions targeting crypto users are so common, that earlier this month MyEtherWallet warned its user that its official extension was removed for allegedly containing malware. Fortunately, the extension was restored shortly after the team contacted Google to solve the issue.

Brett Callow, threat analyst at cybersecurity firm Emsisoft shared some advice on how to avoid falling victim to such phishing attempts:

"Security products may detect malicious extensions, but the first line of defence should always be common sense. The best advice is to only install extensions from official stores and to do a little research prior to installing them. If a website randomly prompts you to Click allow' to continue downloading an important browser update, just close the page.

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Google Removes 49 Phishing Extensions That Steal Cryptocurrency Data - Cointelegraph

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