Cybercriminals use cryptocurrencies as a new point of attack

crytocurrency hackingCyber ??attacks cause high financial losses for Swiss companies. In nearly half of the victims, the attacks would have had financial consequences or a disruption of business, the consulting firm KPMG writes on Tuesday based on a survey.

One-third of the companies under attack had leaked confidential information, and one in four had caused the cyber-attack a reputational damage. Particularly often affected by financial losses were according to the study banks and insurance companies. In these industries, three quarters of successful cyberattacks would have led to financial losses.

According to KPMG, companies also focus too much on their own organization in the fight against cybercrime. Third-party risks, on the other hand, are neglected. According to the communication, just under half of the respondents (44%) stated that they have no control instruments with their suppliers. In addition, 38 percent of companies renounced contractually binding conditions with respect to cyber risks.

Crypto mining as a new form of cyberattack

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Investment bank warns: Crypto market could collapse by 90 percent

cryptocurrency 2There are already more than 1,000 cryptocurrencies. But the experts of the investment bank GP Bullhound are convinced that most of them will soon no longer exist.

Within the next twelve months, there could be a sharp slump in the crypto market. Anyway, this is the opinion of GP Bullhound experts, according to US broadcaster CNBC, citing a technology investment bank report.
Market correction on the crypto market

According to Sebastian Markowsky, the lead author of the report, more and more institutional investors are likely to push into the crypto market, driving prices higher. However, this is likely to increasingly lead retail investors to go to excessive rates. However, this development will then worsen the correction, which will come later this year. It could even use a veritable panic, according to Markowsky. For example, the cyber-currency market could collapse by as much as 90 percent.

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The number of crypto-hedge funds continues to grow

cryptocurrencyMeanwhile, cryptocurrencies are increasingly used for criminal activities such as money laundering, but the number of reputable investors who are interested in Bitcoin & Co., is growing steadily.

Ascending trend
Despite the plunge in prices and the enormous volatility, more and more opportunities are being created to invest in cryptocurrencies. The number of hedge funds focused on trading in digital coins is growing rapidly.

Since October of last year, the number of these crypto-investment opportunities has doubled. According to the British market research institute Autonomous NEXT, in February they reached a record high of 226 funds with assets under management of around 3.5 to 5 billion US dollars. While there were around 35 funds at the beginning of 2017, the number rose to 55 by mid-August.

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With the help of cryptocurrencies: Chinese wants to be better than Warren Buffett


Star investor Warren Buffett is regarded as a luminary in his field, his nose in worthwhile investments is unparalleled. But now there is a serious challenger.

Chinese Sam Ling, entrepreneur and noted Buffett fan, is betting his crypto-currency index will perform better than Buffett’s portfolio.

The student wants to outdo the teacher
It’s been three years since Sam Ling, along with a partner, won the annual charity auction, which will be auctioning off lunch with investor legend Warren Buffett. Ling was worth 2.35 million dollars in lunch with the man he calls his “big idol”. Speaking to CNBC, the Chinese, now CEO of the Supwin Financial Services Group in Guangzhou, China, said: “I have been looking at it for many years and studying its investment strategies, I am a loyal fan”.

Apparently Buffett had one or two tips for Ling at lunch, because he now confidently announces that he can beat the old master in a ten-year bet – with an investment that the 87-year-old star investor is anything but positive about: cryptocurrencies.

Ling shares Buffett’s preference for index funds
It is no surprise that Warren Buffett advises investors on index funds. While he railroads against fund managers who he believes are the only ones making money on such products, he advises investors again and again to lower-cost index funds. And Buffett can back this up with his own success: in a 10-year bet between him and fund manager Ted Seides, CEO of Protégé Partners, Buffett’s favorite index fund on the S & P 500 beat ‘Vanguard 500 Index Fund Admiral Shares’ lengths. 7.1 percent a year, Buffett index funds dropped annually – the fund was significantly lower with an average gain of 2.2 percent.
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