Back in the "good old days" of computer malware, hackers would try to gain access to our computers with the aim of prising money out of us. Whether they did this by tricking us into clicking a dodgy link or by more nefarious means, it was our hard-earned cash they were after. The last few weeks, however, have seen a marked and unusual shift in the world of online crime.
Crooks are becoming less keen on our money – they're after our computer power instead. As a result, the chips that power our phones, tablets and computers are being quietly hijacked and used to perform intensive number crunching, which slows our devices, drains their batteries and uses up electricity. The reason for all this: the creation (or mining) of cryptocurrencies such as Bitcoin.
The infamous Bitcoin, and its cousins such as Ethereum and Ripple, have hit the headlines repeatedly in the past few months as people observe wild fluctuations in their value and ponder the wisdom of buying them. But there is a way of getting hold of these coins that doesn't involve currency exchange: instead, you use computer power to complete the complex mathematical puzzles that validate a "block" of cryptocurrency transactions. If you manage to solve those tricky sums, you get a reward. For example, successfully mining one block of Bitcoin will yield a reward of 12.5 Bitcoins – currently equivalent to about US$100,000 (Dh367,315). Needless to say, this particular task is not an easy one: a high-end PC might take about 150,000 years to do so. Nevertheless, enthusiastic miners have found themselves investing huge sums in computer hardware in the hope of "winning" these rewards, from powerful graphics cards (GPUs) to dedicated mining devices, but as cryptocurrencies gain more value, more power is needed to mine them. In the search for that extra computer power, hackers are now requisitioning it from an unsuspecting and unaware public.
Most of these nasty mining tools end up on our devices in the same way most malware does, such as opening a booby-trapped document or following a questionable web link. New threats are appearing constantly. Last weekend saw thousands of Android phones infected with code that mines a cryptocurrency called Monero. (Another ongoing Monero-mining scheme has, so far, infected more than half a million Windows computers and generated some $3.6m of the currency.)
In recent weeks, malicious mining software has found its way onto devices via text messages, rogue links on Facebook Messenger and even via code embedded in Google ads. Victims of these hacks wouldn't immediately be aware what was going on, but their infected devices would be pushed to their limits – indeed, in December, computer-security firm Kaspersky released photos of an infected phone with a battery that had literally buckled, bulged and deformed after two days of intensive cryptomining.
Whether one believes in the long-term validity of cryptocurrencies, the feverish rush to mine them is having real-world effects. The GPUs that facilitate the mining of certain currencies (Ethereum among them) are now subject to a global shortage, with empty shelves and high second-hand prices. GPU manufacturer Nvidia recently confirmed that it has asked retailers to prioritise gaming customers over mining customers, but its main competitor, AMD, is less shy – the company's technical marketing manager, Damien Triolet, gave an interview to
the TechRadar website this week extolling the benefits of certain AMD products and the benefits they could bring to rookie miners.
Beyond the world of graphics cards, demand has soared for dedicated mining "rigs" (such as the AntMiner S9), which sell for thousands of dollars apiece, and established brands have also been muscling in on the action. Kodak recently unveiled a scheme whereby you could lease a mining rig from them (a "KashMiner") for $3,400 if you split your profits with the company, while Samsung announced last week that it is manufacturing chips specifically dedicated to cryptomining. You would be forgiven for thinking that this whole business appears to be motivated by greed, but last week, there was an attempt to harness the system for a charitable cause, when Unicef appealed to gamers with powerful graphics cards to mine Ethereum to help raise money for children in Syria.
All this mining requires enormous amounts of electricity. The main expense for miners isn't the rig, it is the power, and this helps to explain why hackers are now trying to get that power for free – by stealing it. Estimates of the amount of power used by the global cryptomining effort have been criticised for their inaccuracy, but economics website Digiconomist currently pegs the power used to mine Bitcoin (never mind any other cryptocurrencies) as equivalent to about 4.4 million American households. The dream of cryptocurrency inventors, to create a newer, fairer financial system, probably never factored in the extraordinary consumption of resources that would be needed to bring them into being, and some of those inventors are now wrestling with their consciences; Vitalik Buterin, the creator of Ethereum, was recently quoted as saying: "I would personally feel very unhappy if my main contribution to the world was adding Cyprus's worth of electricity consumption to global warming." In China, where electricity is cheap and where a substantial proportion of the world's mining rigs are located, officials recently announced that local government would be "discouraging" miners from continuing their activities.
Those of us who are keen not to have a grindingly slow computer or an enormous electricity bill should follow the usual rules regarding malware: be suspicious of unusual files and wary of unexpected correspondence. The web browser extension No Coin has been independently developed to block mining code, and since last month, it has been built into the Opera web browser by default. Meanwhile, anyone who might be thinking "if you can't beat them, join them" should probably think again; the highly impractical nature of cryptomining and the sheer volatility of the markets means that the amount one would spend on mining coins might be better spent on simply buying the coins themselves. Or, controversially, perhaps invested in something a little more stable.
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The specs
Engine: 6.2-litre V8
Transmission: ten-speed
Power: 420bhp
Torque: 624Nm
Price: Dh325,125
On sale: Now
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Company%20Profile
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BEETLEJUICE BEETLEJUICE
Starring: Winona Ryder, Michael Keaton, Jenny Ortega
Director: Tim Burton
Rating: 3/5
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Company Profile
Founder: Omar Onsi
Launched: 2018
Employees: 35
Financing stage: Seed round ($12 million)
Investors: B&Y, Phoenician Funds, M1 Group, Shorooq Partners
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
'Ashkal'
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
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Greatest of All Time
Starring: Vijay, Sneha, Prashanth, Prabhu Deva, Mohan
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
FA Cup quarter-final draw
The matches will be played across the weekend of 21 and 22 March
Sheffield United v Arsenal
Newcastle v Manchester City
Norwich v Derby/Manchester United
Leicester City v Chelsea
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
RESULTS
5pm: Maiden (PA) Dh80,000 2,200m
Winner: Arjan, Fabrice Veron (jockey), Eric Lemartinel (trainer).
5.30pm: Maiden (PA) Dh80,000 1,400m
Winner: Jap Nazaa, Royston Ffrench, Irfan Ellahi.
6pm: Al Ruwais Group 3 (PA) Dh300,000 1,200m
Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinal.
6.30pm: Shadwell Gold Cup Prestige Dh125,000 1,600m
Winner: AF Sanad, Bernardo Pinheiro, Khalifa Al Neyadi.
7pm: Shadwell Farm Stallions Handicap (PA) Dh70,000 1,600m
Winner: Jawal Al Reef, Patrick Cosgrave, Abdallah Al Hammadi.
7.30pm: Maiden (TB) Dh80,000 1,600m
Winner: Dubai Canal, Harry Bentley, Satish Seemar.
KILLING OF QASSEM SULEIMANI
more from Janine di Giovanni
Israel Palestine on Swedish TV 1958-1989
Director: Goran Hugo Olsson
Rating: 5/5
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
The Uefa Awards winners
Uefa Men's Player of the Year: Virgil van Dijk (Liverpool)
Uefa Women's Player of the Year: Lucy Bronze (Lyon)
Best players of the 2018/19 Uefa Champions League
Goalkeeper: Alisson (Liverpool)
Defender: Virgil van Dijk (Liverpool)
Midfielder: Frenkie de Jong (Ajax)
Forward: Lionel Messi (Barcelona)
Uefa President's Award: Eric Cantona
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