Could This Crypto Ransomware Cripple China’s Bitcoin Mining Industry?

Bitcoin

By CCN.com: China’s sprawling bitcoin mining industry is being targeted by a terrifying new ransomware strain that is threatening the economy of the Sichuan river basin where most mining farms are located, housing a huge percentage of the bitcoin blockchain’s hashpower.

First detected in August 2018, the ransomware which is called “hAnt” has been observed to target a wide variety of mining rigs including Bitmain‘s Antminer S9, T9 and L3 and Avalon equipment.

Its initial method of introduction remains unclear at the moment, but it is its method of propagation that is especially concerning for an already fragile industry, pummelled by weak bitcoin prices and the threat of changing government policy on cheap hydroelectric power. Like conventional ransomware, hAnt encrypts a miner’s files and renders it unusable – a death sentence for a mining operation whose profitability depends on constant uptime. This is where it gets interesting.

“Bandersnatch” of Ransomware

Whereas ransomware typically makes a demand for a certain amount in crypto in exchange for decryption instructions, hAnt employs an especially pernicious tactic, effectively forcing victims to choose their own poison, a la “Bandersnatch”. When equipment owners connect to the affected rig to see what the problem is, they are presented with the following interface.

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