By Uzair Amir
COTI's V2 confidentiality layer secures Civic's Dynamic DID, empowering users with control over their data and seamless regulatory compliance.
This is a post from HackRead.com Read the original post: COTI and Civic Partner to Give Users Self-sovereignty of Their Digital Identity

COTI, the world’s fastest, lightest, and most secure confidentiality layer on Ethereum, has announced a partnership with Civic, the leading provider of identity management tools for **Web3**, to ensure full data protection and confidentiality for Civic users. The partnership will see Civic using COTI V2’s confidentiality layer for the Dynamic decentralized identity (DID) offering.

The recent partnership followed closely after COTI announced a community rewards initiative **last week**. This initiative involved airdropping up to 40 million COTI V2 tokens, currently valued at approximately $10 million, to its Native and ERC-20 $COTI holders.

Shahaf Bar-Geffen, COTI CEO said: “We’re excited to integrate COTI V2s confidentiality layer into Civic’s platform. Civic is an industry leader in the field of identity management tools for Web3, and COTI will continue to partner with industry leaders. We look forward to working with Civic’s professional team to bring Dynamic DID into full production”.

COTI V2’s Dynamic DIDs leverage Civic Pass, which is both a verified credential and a non-transferable token in the user’s wallet. Civic Pass can serve as input to meet regulatory requirements like Anti-Money Laundering (AML) and Know Your Customer (KYC).

A user’s **digital identity** is the personal record of their data, credentials, and identifiers that exist throughout the Internet. With so much of our lives taking place online, users are growing increasingly aware of the importance of actively managing their digital identities to avoid data breaches, hacks, and non-consensual data monetization. COTI V2’s confidentiality layer allows the data to provide both verification and computation while staying encrypted throughout.

Civic prioritizes user protection, as seen in their recent **introduction of a physical ID card** for Civic Pass holders. This enables Civic users to prove their identity and minimize the threat of AI-driven identity fraud. The partnership between Civic and COTI represents a major step forward in protecting the digital footprint and credentials of users.

Both COTI and Civic are committed to providing users with full data privacy as they engage with dApps and explore innovative Web3 use cases with confidence. The ability to manage an advanced version of users’ decentralized identity (DID) with COTI V2 will empower dApps to interact with Civic’s identities and query complex insights without accessing sensitive data.

Harnessing the privacy-preserving power of garbled circuits, COTI V2 unlocks Dynamic DID, a powerful upgrade that allows for advanced features like confidential data sharing and complex calculations. Civic will be integrating with COTI V2 across all phases of COTI V2’s development: Devnet, Testnet, and Mainnet, as a design partner

The partnership marks a major step in enabling true self-sovereignty of users’ digital identity as more people enter the Web3 ecosystem. Users can securely store their sensitive information with Civic without having to physically disclose it, while still enabling seamless compliance with regulatory frameworks like **Anti-Money Laundering (AML)** and Know Your Customer (KYC) requirements.

> Today, we’re announcing the Civic ID System, which combines digital, analog, and mobile identity.
> 
> We’re also launching the Civic ID card, a physical ID card that will bridge our online and offline digital identity platform.
> 
> Civic ID is designed to meet the next generation of… pic.twitter.com/BO2O0Q6jK4
> 
> — Civic (@civickey) March 26, 2024

****About Civic****

Civic is a leading provider of identity management tools for web3, empowering people to easily and privately manage their identities across chains with an on-chain representation of their reusable identity.

The company’s flagship product, Civic Pass, is an integrated permissions tool that helps business customers enable secure access to their on-chain assets. Users may also manage their identity, presence and reputation with a dashboard. Civic aims to be the most trusted on-chain identity tool in the world, used by billions every day. Civic was co-founded in 2015 by Vinny Lingham and Jonathan Smith. For more information, visit: **Civic.com**.

****About COTI****

COTI is the fastest and lightest confidentiality layer on Ethereum. Powered by the breakthrough cryptographic protocol Garbled Circuits and secured by Ethereum, COTI introduces the most advanced and compliant solution for data protection on the public blockchain.

Paving the way for the next wave of Web3 innovation and adoption, COTI unlocks a whole new world of use cases, including confidential transactions, Artificial Intelligence, DeFi, decentralized identification, and more. For more information, visit: **Coti.io**.

1.  Powerloom to Hold First Ever Node Mint on Polygon Network
2.  Owning Versus Renting – The Circumstances of Web3 Domains
3.  Overworld secures $10M for cross-platform ARPG development
4.  GoPlus Security Raises $4 Million to Enhance Web3 User Protection
5.  UOB, Samsung Back Singapore’s Startale Labs in $7 Million Web3 Push

COTI and Civic Partner to Give Users Self-sovereignty of Their Digital Identity

By Uzair Amir
Curious to learn how GoMining is pioneering the democratization of crypto mining? Read on as we explore their approach, technicals, and how they ensure safety for their users.
This is a post from HackRead.com Read the original post: GoMining Review: This Platform Makes Bitcoin Mining Possible Through NFTs

For most crypto enthusiasts, participating in Bitcoin mining remains a pipe dream – between the technical complexity, expensive hardware, and constant upkeep, it seems out of reach for the average person trying to dip their toes into crypto.

But what if you could earn passive Bitcoin without needing to become an overnight blockchain expert or breaking the bank on specialized equipment? A new platform called GoMining is turning that pipedream into reality for everyday crypto fans.

GoMining leverages non-fungible tokens (NFTs) to open up simple, accessible Bitcoin mining opportunities for the masses. By abstracting away traditional mining barriers through tokenization, the platform makes earning Bitcoin rewards possible for literally anyone with just a few clicks. And importantly, their approach maintains a strong focus on safety and security for users (more on that later).

Curious to learn how GoMining is pioneering the democratization of crypto mining? Read on as we dive into the technicals. We will also uncover how you can try the platform and mine BTC using a 7-day free trial.

****What is GoMining?****

At its core, GoMining is an infrastructure project with a laser focus on efficient, sustainable Bitcoin mining. The team runs a global network of nine data centers packing a massive amount of collective computing power – we’re talking over two exahashes and counting.

These strategically located mining operations maximize energy efficiency by using proprietary hardware and service centers. In other words, GoMining handles all the heavy lifting of optimizing Bitcoin mining at an enterprise scale.

Now, here’s the neat innovation that opens up access: GoMining developed not one but two avenues for individuals to passively participate in those institutional-grade mining returns.

First, there’s the GoMining Token (GMT) – an exchange-tradeable cryptocurrency representing fractional ownership of hashrate from the GoMining mining infrastructure. Pretty straightforward staking model if you’re familiar with crypto.  

But then there’s also the **NFT mining rig offerings**. These specialized NFTs essentially tokenize specific pieces of GoMining’s real-world mining hardware, allowing holders to collect payouts. When a user purchases an NFT, they start receiving mining rewards directly into their Bitcoin wallet **within 24 hours**, and these rewards continue daily.

By blending infrastructure scale with tokenized participation models, GoMining aims to finally demystify and democratize Bitcoin mining for the masses. No need to run your own solo rig from your garage anymore!

****Problems it solves****

For individual miners, GoMining fixes several major headaches:

*   **No More Expensive Upfront Costs** – GoMining lets anyone purchase fractional mining capability. So rather than investing thousands in your setup, you can start earning with mining NFTs from a significantly smaller budget.
*   **It Handles the Technical Complexity** – No need to become an expert to participate! GoMining manages all mining operations and logistics for you from their optimized facilities.
*   **Low Electricity Costs** – GoMining leverages scale across global data centers located in low electricity cost regions, which translates to competitive rewards.
*   **Always Up-to-Date Equipment** – As mining hardware evolves, GoMining continually upgrades their infrastructure. This means your mining NFTs tap into the latest and most efficient tech automatically.

****Virtual Miners: NFTs Explained****

Okay, let’s break down these NFTs in a bit more detail. As mentioned, GoMining’s “Virtual Miners” are specialized NFTs that give holders fractional ownership of the platform’s global mining infrastructure.

In plain terms, these NFTs let you earn passive Bitcoin without dealing with the hardware or logistics yourself. By tokenizing mining equipment into digital assets, GoMining opened up access for the everyday crypto fan to participate in heavy-duty rewards previously only possible at an institutional level.

****Minting New Virtual Miners****

Each time GoMining expands by deploying new physical miners in their data centers, a matching batch of Virtual Miner NFTs gets minted and listed. The ERC-721 blockchain standard ensures each NFT is provably unique and traceable.

When checking out NFT offerings in GoMining’s shop, you’ll notice details around entitled hashrate. This defines how much mining power (TH/s) backings that NFT, which translates to your output. Rather than buying rigs, you’re buying rights to fractional productivity.

****Plug In and Start Earning Bitcoin****

Once you purchase a Virtual Miner NFT, it gets transferred directly to your crypto wallet. Almost instantly, you’ll start accumulating daily Bitcoin mining rewards every 24 hours. Payout calculations are based on your share of GoMining’s collective hashrate. It’s like owning a slice of an industrial-capacity operation.

As market conditions shift, NFT prices fluctuate but broadly align with mining profitability. You can always sell your NFT later if desired too.

****Future-Proofed With Auto-Upgraded Hashrate****

As crypto mining hardware keeps advancing, GoMining continually acquires faster and greener rigs to stay competitive. Rather than making you buy new NFTs each upgrade cycle, your existing Virtual Miners can be seamlessly upgraded as well! By burning lower efficiency NFTs, GoMining issues you new tokens representing hashrate from the latest gear. This ensures you stay viable for the long haul.

****Why Virtual Miner NFTs Beat DIY Mining****

*   Dodges hardware costs and headaches
*   Daily BTC deposits straight to your wallet
*   Hashrate auto-scales to stay optimized
*   Easy tradability provides liquidity

****Steps to Start Mining BTC with GoMining NFTs (+ 7 Day Free Trial)****

Ready to start earning passive Bitcoin through GoMining’s NFT mining platform? The process is simple:

****Step 1: Create Your GoMining Account****

  
Go to app.gmt.io and click “Get Started” in the top right corner. You’ll need to enter a valid email and create a secure password. Make sure to use an email you can access, as you’ll receive verification codes for the next steps.

You can also create an account by connecting your wallet. Current supported wallets include WalletConnect, Trust Wallet, MetaMask, and TON Wallet.

****Step 2: Complete KYC Verification****

To comply with Anti-Money Laundering regulations, GoMining requires users to complete a quick know-your-customer (KYC) check. Pretty basic stuff in the industry these days thanks to the rapid increase in crypto regulation. 

Getting a photo ID like a driver’s license or passport ready to hand expedites the verification process. You will need to upload a photo of one document, and you will need to take a selfie. You can do this on your desktop, or a mobile device.

Rest assured GoMining uses advanced encryption and access controls to secure the personal data provided. All in all, the KYC process should only take a few minutes

****Step 3: Start Your 7 Day NFT Mining Free Trial****

GoMining offers new users a 7-day free NFT trial to experience mining rewards firsthand. You’ll receive a demo Virtual Miner NFT with 16 TH/s allocated to your account. Finding the free trial is easy. Just log into your GoMining account and navigate to the “NFT Game” section.

  
Over the next week, you’ll accumulate real BTC payouts based on that hashrate. Payouts are simply deposited into a virtual wallet during the trial period. You will receive real BTC rewards as if you owned a real NFT – but the only difference is that the rewards are saved to your virtual balance.

To maximize your profits, you need to log in to the platform every day and “Service” your mining rig. To do this, simply come back to the same menu and click the service button and you’re good to go. There will be a countdown timer that tells you how long you need to wait before you can do it again. Each time you service your rig, you will get daily rewards and increase your payout. 

****Step 4: Buying Your First Virtual NFT Miner****

After testing out Bitcoin mining rewards during the free trial period, it’s time to graduate to your own Virtual Miner NFT connected directly to your wallet.

Start by opening the NFT Marketplace within your GoMining account. Browse through the listings of available Virtual Miners with details on represented hash rates and real-time pricing. Consider factors like:

*   Your overall budget
*   Desired mining power allocation
*   Current market conditions influencing mining profitability  
    

Once you’ve found the perfect Virtual Miner NFT matching your needs and price range, click “Buy Now” to purchase. Confirm the details look accurate on the checkout screen.

After completing the transaction, your new NFT will instantly show in your wallet, while your free trial NFT disabled. Any demo BTC accumulated transfers over plus your first actual rewards. Now you’ll continually collect Bitcoin payouts based on your owned hashrate. 

****Step 5: Understanding the ROI****

When you first start exploring the site, it can be a little overwhelming to get your bearings and understand all of the lingo. In general, the most important thing you need to keep in mind is the ROI potential.

The good news is that each Virtual Miner comes with a handy toolbar that lets you calculate the predicted ROI of each investment. You can use the slider to see your ROI over various timeframes, and you can also select and deselect the discounts and bonuses from the servicing function we mentioned earlier, as well as the 10% discount from using the native GMT token.

Once you have chosen your parameters, you will see an estimate window like this:

Of course, this is not to be taken as an exact measure. There are plenty of variables at play. This is crypto, after all.

****Managing Your Mining****

After you’ve started mining with GoMining, there are several ways to manage and optimize your mining operation.

****Tracking Performance****

Logging into your dashboard gives you a real-time snapshot of what your miners are up to from different angles – your overall network hashrate contribution, total BTC earned, projected future value based on market conditions, yield over time, etc.

Having all this visibility in one place lets you easily track progress, spot trends, and figure out optimal times to make money moves.

****Reinvesting to Grow Your Position****

A proven investing mantra is letting your money work for you through compound interest. As such, GoMining enables seamlessly upgrading your Virtual Miner NFTs to more powerful models with greater hashrate allotments, earning you more Bitcoin rewards. This multiplier effect accelerates mining revenue through continuous expansion of your infrastructure holdings.

****Cashing Out****

Whenever you want to realize your mining profits, you can easily withdraw your Bitcoin rewards to an external wallet. GoMining covers the blockchain transaction fees, ensuring you receive your full earnings. Alternatively, you can sell your Virtual Miner NFTs on the secondary NFT marketplace, allowing you to potentially profit from appreciation in the value of your mining power.

****GoMining Security** **

Let’s talk security – because when money is on the line, protection matters. First of all, it’s worth mentioning that GoMining alleviates many of the security risks associated with traditional mining. Solo miners often have to consent with concerns such as:  

*   **Hardware Vulnerabilities**: Solo home mining rigs can attract hackers looking to infect setups with malware to make off with hard-earned crypto.
*   **Technical Knowledge Gaps**: Miners who are still getting up to speed with security best practices are vulnerable to making mistakes. Holes in setups expose them to attacks.
*   **Physical Risks**: Accidents happen, and thievery is always a risk. When operating a mining rig, you need to take both digital and physical security into account. 

GoMining lifts those burdens by handling everything safely in professional data centers, which is certainly a significant benefit when it comes to maintaining peace of mind. 

****GoMining Security and Safety Features** **

Okay, now we know GoMining takes away those pain points, let’s take a look at some of the safety and security features of the platform itself:

*   **Reward Wallet Verification:** GoMining employs a rigorous verification process to ensure that you are the owner of the cryptocurrency wallet you provide and so that it can correctly determine where the BTC mining reward should be safely distributed. 

*   **CertiK Smart Contract Audit:** GoMining has undergone an in-depth audit by CertiK. This evaluation validated the security of the platform’s code and blockchain infrastructure.

*   **Two-Factor Authentication 2FA**: This adds a critical layer of security to your account, making it significantly harder for bad actors to gain access. 

*   **KYC Compliance:** GoMining follows industry standard KYC compliance to mitigate fraudulent activity. 

****Tips to Enhance Security****

While GoMining locks down their systems, it’s important not to forget the role of the user when it comes to ensuring security. Be sure to closely guard account details, and never share your private passwords or seed phrases, even when prompted. As per GoMining, they will never reach out directly and ask for sensitive information.

When purchasing GMT tokens, it’s best to do so through the platform itself, major verified exchanges, or the Trust Wallet application. 

Finally, proactively verify the authenticity of any social media profiles. Cross-check them against GoMining’s official, confirmed channels list.

****GMT Tokenomics****

  
As you may have noticed, there are some pretty nice rewards and discounts for using the native GMT token. Let’s take a look at some of the token’s utility:

****Fee Discount Token****

By paying platform fees in GMT, NFT holders receive a 10% discount reducing overhead costs and boosting mined Bitcoin. This incentive kickstarts regular token circulation.

****Deflationary Burn and Under-Mint****

When GMT gets spent on fees, tokens get permanently destroyed via burning. Meanwhile, the system mints new GMT representing a significant percentage of the amount burned. This continual burn and under-mint process structurally diminishes circulating supply over time, applying incremental deflationary pressure on GMT.  

****Reward Redistribution****

Of the amount reminted, tokens are distributed across platform incentives like miners, service providers, community grants, liquidity pools, and veToken stakers. This stimulation shares wealth while aligning stakeholders.

****Decentralized Governance****

Users committing to locking up GMT get veToken status. This earns governance votes steering the DAO’s direction while collecting fee distribution rewards. Aligning stakeholders reduces risks from fragmentation while bringing community oversight.

****Closing Thoughts****

GoMining is aiming to flip the script on the idea that crypto mining is a highly technical process that only hardcore blockchain experts can pull off. 

By packaging up institutional-grade mining infrastructure into user-friendly NFTs, GoMining opened the door for regular crypto fans to tap into passive income. Now there’s no need to mess with clunky hardware and maintenance – it’s condensed into a few clicks.

At the same time, Gomining has not had to sacrifice viability or efficiency, since all the heavy lifting still happens behind the scenes at a massive scale. Users just get to kick back collecting Bitcoin off the mass output. 

Of course, it’s still important to enter into this with all of the same savvy and diligence as any crypto endeavour. Keep in mind that the market is volatile and that returns are not guaranteed. There are many factors at play, so be sure to do your research so you can find a set-up that works best for your finances and your risk profile. 

With that said, if you have always wanted to try out Bitcoin mining for yourself but have never had the time, energy, or money to set up your rig, Gomining just might be the solution you were looking for. 

****FAQs********What blockchains are NFTs issued on?****

GoMining NFT collections are issued on both Ethereum (ERC-721 standard) and Binance Smart Chain (BEP-721 standard). Some popular collections include The Greedy Machines, the Khabib Collection, The East Collection, and The North Collection.

****What makes GoMining’s NFTs unique?****

The NFTs represent fractional ownership of GoMining’s real computing infrastructure actively mining Bitcoin. Owning them entitles holders to daily mining rewards proportional to the hashrate tied to each NFT. They also function as creative digital artworks tradable on marketplaces.

****How can I upgrade my NFT’s mining power?****

GoMining enables upgrading your NFTs to higher hashrate tiers, increasing potential rewards. Twenty levels exist, with Level 1 representing 1 TH/s and Level 20 maxing at 5000 TH/s. Upgrading costs less than buying a separate NFT at the target level. The higher your current tier, the cheaper upgrading becomes.

****What fees apply and is there a way to reduce them?****

Daily electricity and maintenance fees get deducted from rewards, but discounts apply:

*   Level Discount: 0.3% – 1.2% off based on total hashrate
*   Service Discount: Up to 3% for clicking a daily button
*   Solo Mining Bonus: Extra off as a platform incentive
*   10% GMT Discount: When paying fees in native tokens

Activating discounts significantly increases net Bitcoin payouts.

1.  Could Bitcoin Be The Future Of DeFi?
2.  What is Cloud Mining and How Does it Work?
3.  What is Blockchain Gaming and its Play-to-Earn Model?
4.  What is the tokenization process and why it is so important?
5.  Powerloom to Hold First Ever Node Mint on Polygon Network

GoMining Review: This Platform Makes Bitcoin Mining Possible Through NFTs

By Waqas
The cyberattack occurred in the first week of March 2024 during the ASEAN-Australia Special Summit in Melbourne.
This is a post from HackRead.com Read the original post: Chinese APTs Targeted ASEAN During Summit with Espionage Malware

Chinese APT groups launched a cyberespionage campaign targeting ASEAN organizations with malware, coinciding with the recent ASEAN-Australia Special Summit — Palo Alto Networks’ Unit 42 report reveals the attacks, highlighting the need for robust cybersecurity measures in Southeast Asia.

A recent report by Palo Alto Networks’ Unit 42 cybersecurity research team has revealed a coordinated cyber espionage campaign that targeted countries affiliated with the Association of Southeast Asian Nations (ASEAN). The Chinese Advanced Persistent Threat (APT) groups are blamed for this.

The report, titled “ASEAN Entities in the Spotlight: Chinese APT Group Targeting,” highlights the activities of two separate APT groups. One identified group is Stately Taurus, a well-known threat actor with a history of cyberespionage operations.

Unit 42 researchers discovered that the cyber attack involved two malicious packages including “Talking\_Points\_for\_China.zip,” a ZIP file and “PSO.scr,” an executable screensaver file. One of these malware packages was created by Stately Taurus specifically matching with the dates of the ASEAN-Australia Special Summit held in March 2024 in Melbourne.

The malicious package (Screenshot: Unit 42)

This suggests a targeted effort to gather intelligence during the critical regional event. This incident is also similar to the one in July 2023, where pro-Ukraine attendees of the NATO Summit were targeted with the RomCom RAT malware. Russian government hackers were suspected in that case.

> _“These types of campaigns continue to demonstrate how organizations are targeted for cyber espionage purposes, where nation-state affiliated threat groups collect intelligence of geopolitical interests within the region”_
> 
> Palo Alto Networks’ Unit 42

The report goes on to show why organizations within ASEAN countries must take strong measures to defend against such cyberattacks. Palo Alto Networks recommends deploying advanced security solutions like DNS Security, Advanced URL Filtering, and WildFire to mitigate these threats.

While the Unit 42 report identifies two specific APT groups, the full extent of the campaign and the potential involvement of other actors remain under investigation. Continued monitoring and threat intelligence gathering are essential to fully understand the scope of this espionage activity.

Nevertheless, this discovery comes amidst heightened geopolitical tensions in the Southeast Asian region. The targeted nature of the attacks, coinciding with a major regional summit, raises concerns about potential attempts to gain an advantage in international relations.

Cybersecurity experts are urging ASEAN member states and affiliated organizations to remain alert against such cyberespionage efforts. Collaboration on information sharing and implementing proper cybersecurity measures is a must to defend against these ongoing threats.

1.  China Arrests 4 for Weaponizing ChatGPT for Ransomware Attack
2.  China-Linked Spyware Found in Google Play Apps, 2m Downloads
3.  Chinese Evasive Panda Targets Tibetans with Nightdoor Backdoor
4.  China-Blackwood APT Uses NSPX30 Backdoor in Cyberespionage
5.  Chinese Hackers Hack Dutch Defense Networks with Coathanger RAT

Chinese APTs Targeted ASEAN During Summit with Espionage Malware

By Waqas
Tributes turned toxic as crooks abuse AI.
This is a post from HackRead.com Read the original post: AI Generated Fake Obituary Websites Target Grieving Users

Scammers are using AI generated fake obituaries. These deceptive websites appear identical to real memorials, exploiting human emotions to steal personal data, solicit donations for non-existent causes, or infect devices.

Cybersecurity researchers at SecureWorks have discovered an alarming trend in which scammers are leveraging AI (artificial intelligence) to create fake obituary websites. These sites, identical to genuine memorials, exploit human emotions for malicious purposes.

SecureWorks team noticed an uptick in web domains registered with obituary-related keywords, coupled with unusually sophisticated content. Upon closer inspection, the truth emerged: these were not heartfelt tributes but AI-generated fabrications aimed at scamming unsuspected individuals.

The increasing misuse of artificial intelligence (AI) is hardly unexpected. Recent findings indicate that cybercriminals are employing open-source AI technologies to create child abuse material (CSAM). Additionally, the emergence of harmful chatbots such as FraudGPT and WormGPT shows the extent to which AI can be exploited for malicious purposes.

The latest scam operates by creating obituary notices that mimic real ones in detail and sentiment, thanks to AI’s capability to generate human-like text. Visitors to these sites are often led to believe they’re paying respects to a deceased individual, not realizing the information is entirely fake.

The end game of it could be to phish for personal data, solicit donations for non-existent causes, or infect visitors’ devices with malware. Additionally, users are bombarded with fake malware pop-ups and in case the individual is using AdBlock (which they should) are blocked from visiting the site unless they whitelist the scam site.

Source: Secureworks

Some of the scam sites identified by SecureWorks include the following:

*   obituaryway.com
*   funeralinfotime.com
*   memorialinfoblog.com
*   obituaryinfotimes.com
*   obitsmemorialhomes.com
*   nextdoorfuneralhomes.com

Nevertheless, the emotional toll of these fake sites cannot be overstated. Families and friends of individuals who have recently passed away may stumble upon these fake notices, experiencing fresh waves of grief and confusion.

Moreover, these scams also have a financial angle—some sites solicit donations for funeral expenses or charitable causes in the deceased’s name, unintentionally funding contributions into the pockets of scammers.

****Identifying Fake Obituary Sites****

Distinguishing between genuine and fake obituary sites can be challenging, given the sophistication of AI-generated content. However, there are red flags to look for:

*   **Unverified Information**: Real obituary notices are usually posted by known funeral homes or are verifiable through local news sources.
*   **Solicitation of Funds**: Genuine obituary sites rarely, if ever, ask for donations directly on the page.
*   **Poorly Credentialed Websites**: Look at the website’s other content and credibility. A legitimate obituary site will not have advertisements or unrelated content.
*   **Absence of Detailed Personal Stories**: While AI can generate convincing summaries, it lacks the personal anecdotes and depth that come from genuine contributions.

1.  AI Boosts Ransomware Threat, UK Cyber Security Center
2.  ShadowRay Campaign Hits Ray AI Framework in Global Attack
3.  AI-Powered Scams, Human Trafficking Fuel Global Cybercrime
4.  Deepfakes Are Being Used to Circumvent Facial Recognition Systems
5.  McAfee’s Mockingbird AI Tool Detects Deepfake Audio with 90% accuracy

AI Generated Fake Obituary Websites Target Grieving Users

By Waqas
An unpatched vulnerability is exposing the Ray AI framework to the "ShadowRay" attack!
This is a post from HackRead.com Read the original post: New ShadowRay Campaign Targets Ray AI Framework in Global Attack

Discover the ShadowRay campaign exploiting CVE-2023-48022 in the Ray AI framework, risking thousands of companies. Attackers hijack resources, mine crypto, and steal data, impacting education, finance, and healthcare. Major users include Uber, Amazon, and Netflix – Urgent patch advised.

Recent revelations from the Oligo research team have shed light on a troubling development in cybersecurity. Dubbed “ShadowRay” by the researchers, it represents the first documented instance of an active attack campaign targeting AI workloads within the widely utilized Ray open-source AI framework.

****CVE-2023-48022****

The core of the issue lies in a critical vulnerability, known as CVE-2023-48022, which has been a subject of contention and remains unpatched. This vulnerability exposes thousands of companies and their AI infrastructure to exploitation, allowing malicious actors to hijack computing resources and potentially leak sensitive data.

Shockingly, this security vulnerability has been actively exploited for the past seven months, impacting various sectors including education, cryptocurrency, and biopharma.

According to the technical findings stated in Oligo Security’s blog post shared with Hackread.com ahead of publication on Tuesday, the exploit has led to the compromise of numerous Ray servers worldwide.

These compromised machines, some of which have been under attack for over half a year, pose a significant threat to the integrity and security of sensitive data. Attackers have been able to obtain valuable insights from command history stored on these machines, potentially exposing critical production secrets.

> _“As of now, Oligo has found hundreds of compromised clusters. Each cluster consists of many nodes, which are machines connected to the cluster over the network. Most nodes have GPUs, which are leveraged by attackers for cryptocurrency mining, making this infrastructure an even bigger target for attacks. In other words, attackers choose to compromise these machines not only because they can obtain valuable sensitive information, but because GPUs are very expensive and difficult to obtain, especially these days.”_
> 
> Oligo Security

****Who Uses Ray?****

Currently, Ray boasts 30,000 stars on GitHub, indicating a feature enabling users to bookmark repositories of interest or utility, akin to “liking” content on social media platforms.

Furthermore, Ray finds application in production environments across some of the globe’s leading organizations, such as Ant Group, an affiliate company of the Chinese conglomerate Alibaba Group, Uber, Amazon, LinkedIn, Doordash, Netflix, Spotify, Pinterest, and OpenAI, etc.

******Expert Weighing In******

John Bambenek, President at Bambenek Consulting, emphasized the inherent challenges in defending against such attacks, particularly within AI environments. He highlighted the ongoing struggle to establish robust threat detection mechanisms, noting that the current landscape lacks comprehensive visibility. With attackers increasingly targeting data-rich environments, the need for proactive measures to safeguard AI workloads has never been more pressing.

_“_AI has been sprung on environments and we are still struggling with getting basic frameworks in place to start detecting threats and attacks. We have pieces, however, there is no way to know if this is the first attack as we still lack a notion of how to get complete visibility. That said, it’s clear attackers know full well this is a blind spot and anything with lots of data will be attractive targets._“_

As organizations grapple with the implications of ShadowRay, caution and proactive security measures are important. The Oligo research team has urged all entities utilizing Ray to conduct thorough reviews of their environments, identify any potential vulnerabilities, and remain vigilant for signs of suspicious activity.

In today’s world, where data is incredibly valuable, it’s more crucial than ever to protect against the constantly changing dynamics of cybersecurity threats.

1.  NIST Cybersecurity Framework 2.0: Guide for All Orgs
2.  AI Scams, Human Trafficking Fuel Global Cybercrime Surge
3.  Linux, Windows, macOS Hit By “Alchimist” Attack Framework
4.  ChatGPT Plugins Exposed to Critical Flaws, Risked User Data
5.  Flaws in QuickBlox Framework Expose Millions of User Records

New ShadowRay Campaign Targets Ray AI Framework in Global Attack

By Uzair Amir
With the increasing popularity of Apache Kafka as a distributed streaming platform, ensuring its high availability has become…
This is a post from HackRead.com Read the original post: Best Practices for Kafka Management to Ensure High Availability

With the increasing popularity of Apache Kafka as a distributed streaming platform, ensuring its high availability has become a priority for businesses. The efficient management of Kafka clusters plays a significant role in maintaining a reliable and uninterrupted streaming infrastructure.

In this article, we will explore the best practices for Kafka management that will help organizations achieve robustness and seamless performance.

****Understanding Kafka topics, partitions, and replication****

Apache Kafka operates on a publish-subscribe messaging system, organizing data into topics. Each topic is further divided into partitions, allowing for parallel processing and scalability. Understanding the concept of topics, partitions, and replication is crucial for effective Kafka management.

Kafka replication ensures fault tolerance by creating multiple copies of data across different brokers. By replicating data, Kafka provides redundancy and allows for automatic failover in the event of a broker failure. A minimum replication factor of three is recommended to ensure durability and availability in case of failures. Additionally, partitioning data across multiple brokers provides load balancing and efficient resource utilization.

Proper management of Kafka topics, partitions, and replication is essential for high availability and fault tolerance. By distributing data across multiple brokers and ensuring replication, organizations can maintain uninterrupted access to data even in the face of failures or system outages. Implementing monitoring and alerting mechanisms can help administrators proactively identify and resolve any issues related to topics, partitions, or replication.

****High availability and fault tolerance in Kafka clusters****

High availability and fault tolerance are critical aspects of Kafka management. By implementing certain strategies and best practices, organizations can ensure that their Kafka clusters remain highly available even during unexpected failures or disruptions.

One key practice is setting up Kafka clusters across multiple data centers or availability zones. By distributing the clusters geographically, organizations can mitigate the risk of complete data loss in case of a disaster or a data center outage. Additionally, organizations should consider using Kafka’s built-in features, such as mirror maker or replication, to replicate data across different clusters, further enhancing fault tolerance.

Organizations should also implement proper monitoring and alerting mechanisms to achieve high availability. This includes monitoring the health and performance of Kafka brokers, producers, consumers, and overall cluster metrics. By closely monitoring key metrics such as message throughput, latency, and consumer lag, administrators can identify any potential issues early on and take appropriate actions to prevent disruptions.

****Kafka management best practices for ensuring high availability****

Ensuring the high availability of Kafka clusters requires adherence to certain best practices. By following these practices, organizations can minimize downtime, mitigate data loss, and ensure the continuous availability of Kafka clusters.

Firstly, organizations should regularly monitor and maintain the hardware and infrastructure on which Kafka clusters are running. This includes monitoring CPU, memory, and disk utilization, as well as network bandwidth. By proactively addressing any hardware or infrastructure bottlenecks, organizations can prevent performance degradation and maintain high availability.

Image credit: Hackread.com

Secondly, organizations should implement proper load-balancing techniques to distribute the workload evenly across Kafka brokers. This includes using tools like Apache ZooKeeper to manage consumer group coordination and rebalancing. Organizations can prevent any single broker from becoming a bottleneck and maintain high availability and performance by ensuring that the load is distributed evenly.

Thirdly, organizations should regularly review and tune Kafka configurations for optimal performance and reliability. This includes adjusting parameters such as replication factor, batch size, and message retention policies based on the application’s specific requirements and workload. By fine-tuning these configurations, organizations can optimize resource utilization, reduce latency, and improve the overall performance of Kafka clusters.

****Monitoring Kafka clusters for performance and availability****

Monitoring Kafka clusters is essential to ensure their optimal performance and availability. By closely monitoring key metrics and setting up alerts, administrators can proactively identify and resolve any issues that may impact the performance or availability of Kafka clusters.

Monitoring tools such as Apache Kafka Manager, Confluent Control Center, or third-party solutions like Prometheus and Grafana can provide valuable insights into the health and performance of Kafka clusters. These tools enable administrators to monitor key metrics such as message throughput, latency, disk utilization, and broker availability.

In addition to monitoring cluster metrics, organizations should also monitor individual producers’ and consumers’ health and performance. This includes monitoring the rate of produced and consumed messages, consumer lag, and any potential bottlenecks or issues with specific producers or consumers.

Administrators can be notified of any abnormal behaviour or performance degradation by setting up alerts based on predefined thresholds. This allows them to take immediate action, such as scaling up resources, rebalancing partitions, or investigating potential issues, ensuring the continuous availability and optimal performance of Kafka clusters.

****Kafka cluster capacity planning and scaling****

Proper capacity planning and scaling are essential for maintaining high availability and performance in Kafka clusters. By accurately estimating the required resources and scaling the clusters accordingly, organizations can ensure that Kafka can handle the expected workload without any disruptions.

Capacity planning involves analyzing historical data and predicting future growth to determine the required resources, such as CPU, memory, and disk space. When planning the capacity of Kafka clusters, it is important to consider factors such as message throughput, retention policies, and expected data growth.

Scaling Kafka clusters can be done horizontally by adding more brokers or vertically by increasing the resources allocated to each broker. When scaling horizontally, it is important to ensure proper load balancing and data distribution across the new and existing brokers. This can be achieved by using tools like Apache ZooKeeper to manage the coordination and rebalancing of partitions.

Organizations should also regularly review and adjust the capacity of Kafka clusters based on changing workloads and requirements. This includes monitoring resource utilization and performance metrics and scaling up or down as needed to maintain high availability and optimal performance.

****Configuring Kafka for optimal performance and reliability****

Configuring Kafka properly is crucial for achieving optimal performance and reliability. By fine-tuning various parameters and configurations, organizations can ensure that Kafka clusters operate efficiently and reliably under high-load scenarios.

One key configuration to consider is the replication factor. By setting a higher replication factor, organizations can ensure data durability and fault tolerance. However, a higher replication factor also increases the storage and network overhead. Therefore, it is important to strike a balance between durability and resource utilization based on the application’s specific requirements.

Another important configuration is the batch size, which determines the number of messages that Kafka produces or consumes in a single batch. Larger batch size can improve throughput but may increase latency. It is important to find the optimal batch size that balances throughput and latency based on the workload and application requirements.

Organizations should also consider configuring proper message retention policies to ensure data is retained for the required duration. This includes setting the retention period and configuring the cleanup policies to remove expired data. By properly configuring retention policies, organizations can optimize storage utilization and ensure that data is available for the required duration.

****Conclusion and key takeaways****

In conclusion, efficient management of Kafka clusters ensures high availability and reliable performance. By following the best practices discussed in this article, organizations can optimize their Kafka management techniques and enhance the reliability of their streaming architecture.

1.  Top Software Development Outsourcing Trends
2.  Kotlin app development company – How to choose
3.  Why Front-End Development Matters for Online Businesses?
4.  Benefits of hiring a Java web application development company
5.  Top Benefits of Using Flutter for Cross-Platform App Development

Best Practices for Kafka Management to Ensure High Availability

By Uzair Amir
Discover the top three cybersecurity tools designed to safeguard your business data from online threats and breaches, ensuring secure data transfer.
This is a post from HackRead.com Read the original post: Top 3 Cybersecurity Tools to Protect Business Data

Cybersecurity threats have increased over the years. Research shows that, on average, 2,200 cyber-attacks are happening daily, and a single data breach can cost your business around $9.44 million on average.

These stats highlight the importance of securing your business data. If your business frequently deals with data transfers or file exchanges, investing in reliable cybersecurity tools is necessary.

But with so many options available, it can be overwhelming to determine which ones are best suited for your organization’s needs. That’s why we’re here to help. In this article, we’ll discuss the top three cybersecurity software to help protect your business data effectively.

****Why Should You Use Cybersecurity Tools or Platforms?****

Cybersecurity tools are software solutions designed to protect against online threats such as viruses, malware, and hacking attempts. These tools help you to,

*   Keep important data safe from hackers and cyber threats.
*   Stop unauthorized users from getting into your networks and systems.
*   Continuously watch for unusual actions and alert you to potential breaches.
*   Prevent costly data breaches that could harm your finances.
*   Comply with laws and standards for your industry.
*   Maintain the confidentiality of your customers’ personal information.
*   Prevent interruptions in your business operations, saving time and money.

Regular use of cybersecurity tools improves your overall security, making it harder for attackers to succeed.

****Top 3 Cybersecurity Tools** **

Among the variety of cybersecurity tools available, these three are tailored specifically for businesses managing substantial volumes of sensitive file transfers.

****IBM Aspera****

IBM Aspera is a high-speed data transfer solution developed by IBM. It serves organizations globally, including those in the manufacturing, healthcare, and media industries. With this tool, you can enjoy file transfer up to 100 times faster, managing up to 100 TB of data daily. 

Aspera ensures secure data transfer, facilitating big data transport, large file sending, and low-latency streaming. It supports automation and management of file transfer processes, including hybrid cloud workflows. Additionally, it uses blockchain technology to enhance security in multi-cloud environments.

****Features****

*   **Secure data transfer:** Transfers safely globally with strong security measures. 
*   **Big data transport and sync:** Move, distribute, and sync large files and datasets efficiently worldwide. 
*   **Large-file sharing:** Speed up collaboration by sharing big data and large files with teams globally. 
*   **Transfer management:** Automate, monitor, and control file transfers and workflows smoothly. 
*   **Any bit-rate streaming:** Send data of any size and high-bit-rate video with very little delay.
*   **Hybrid cloud workflows:** Create scalable workflows that work on-premises, in the cloud, or both. 
*   **Secure asset exchange:** Increase security in digital asset movement using blockchain technology.

****Trend Micro Cloud One****

Trend Micro Cloud One File Storage Security offers strong security solutions for cloud storage services. With the increasing use of cloud-based applications, protecting file upload and transfer processes is vital. 

Trend Micro provides top-notch protection supported by extensive threat research. It includes automated malware scanning and file reputation technologies to ensure safety. This solution protects files of all sizes across different business processes and applications, making the cloud storage environment secure. 

****Features****

*   **File reputation:** Blocks known malicious files using anti-malware signatures.
*   **Variant protection:** Identifies obfuscated or polymorphic malware variants.
*   **Extensive flexibility:** Supports scanning of various file types, including .BIN, .EXE, .JPEG, .MP4, .PDF, .TXT, .ZIP, and more.

****Irdeto****

Irdeto is a trusted cybersecurity solution with over 50 years of experience. It protects your business solutions from piracy and cybercriminals. 

Irdeto protects over 5 billion platforms and apps, ensuring robust security measures. It addresses increasing threats in video entertainment, gaming, connected transport, health, and IoT industries. 

Its expertise lies in providing modernized content security protection, including DRM technology for encrypting and transmitting encryption keys. By managing encryption keys effectively, Irdeto reduces the risk of cyber-attacks, safeguarding your organization’s intellectual property.

****Features****

*   **DRM Security:** Protects high-value content through digital rights management.
*   **Enhanced HLS Protection:** Safeguard content delivery with advanced encryption methods.
*   **Forensic Watermarking:** Provides hidden intelligence to shape strategic goals and refine operational tactics for content owners.

****Conclusion****

It is important to protect your business data if you don’t want to become a victim of cyber-attacks. By investing in the top 3 cybersecurity software we have discussed in this blog, you can easily keep your data safe from cyber threats. These tools offer advanced features to securely manage data transfer, prevent breaches, and comply with industry standards. 

1.  CISA Publishes List of Free Cybersecurity Tools and Services
2.  Cybersecurity Business Needs a Real-Time Collaboration Tool
3.  Cybersecurity, Big Data, Automation Tools: What You Must Know
4.  Steps In Penetration Testing, Their Methodology In Cybersecurity
5.  Collaboration Across Platforms Could Supercharge AI Performance

Top 3 Cybersecurity Tools to Protect Business Data

By Waqas
Another day, another popular dark web marketplace bites the dust!
This is a post from HackRead.com Read the original post: International Sting Takes Down Major Dark Web Marketplace “Nemesis Market”

Nemesis Market, a major darknet marketplace for illegal goods, shut down by joint international law enforcement action – Servers seized, €94,000 in crypto confiscated. Global effort disrupts dark web criminal activity.

In a coordinated international effort, German authorities, working alongside law enforcement agencies from the United States and Lithuania, have successfully shut down the global darknet marketplace “Nemesis Market.”

The takedown, announced on March 22nd, 2024, by the Frankfurt am Main Public Prosecutor’s Office and the Federal Criminal Police Office (BKA) of Germany, marks a significant blow to cybercrime operations on the dark web.

Nemesis Market, launched in 2021, had grown rapidly to become a major player in the dark web marketplace scene. Accessible only through the Tor network, the platform offered a haven for illicit activity, facilitating the sale of narcotics, stolen data, and a variety of cybercrime services.

Source: Federal Criminal Police Office

According to the German press release, investigations into the Nemesis Market began in October 2022, culminating in a concerted action on March 20th, 2024. The operation involved seizing server infrastructure located in Germany and Lithuania, effectively shutting down the marketplace. Additionally, German authorities confiscated cryptocurrency assets worth approximately €94,000, believed to be linked to the platform’s operations.

The investigation revealed a large user base for Nemesis Market, with over 150,000 user accounts and over 1,100 seller accounts identified worldwide. Notably, nearly 20% of these sellers were traced back to Germany, highlighting the platform’s reach. The marketplace offered a diverse range of illegal goods and services, including:

*   Narcotics
*   Ransomware
*   Phishing tools
*   DDoS attack services
*   Stolen data and goods

The press release emphasizes that the seized data from the marketplace will be used for further investigations to identify and prosecute the sellers and users involved. This takedown serves as a reminder of the ongoing international efforts to combat cybercrime on the dark web. Collaboration between law enforcement agencies from different countries is proving crucial in disrupting these illicit marketplaces and holding those responsible accountable.

While the takedown of Nemesis Market is a victory for law enforcement, it’s important to acknowledge the persistence of the dark web. New marketplaces are likely to emerge, prompting the need for continued vigilance and international cooperation.

1.  Finnish Dark Web Marketplace PIILOPUOTI Seized
2.  Feds Seize Bulletproof Hosting Service ”Lolek Hosted”
3.  Student-Run Germany’s Largest Dark Web Market DiDW
4.  US Seizes Bitcoin Mixer Sinbad.io Used by Lazarus Group
5.  Genesis Market’s Clearnet domain seized; Dark Web site still online

International Sting Takes Down Major Dark Web Marketplace “Nemesis Market”

By Deeba Ahmed
New Dark Web Tool GEOBOX, sold for $700 on Telegram and underground forums, hijacks Raspberry Pi, allowing cybercriminals to fake locations and evade detection.
This is a post from HackRead.com Read the original post: New GEOBOX Tool Hijacks Raspberry Pi, Lets Hackers Fake Location

Cybercriminals now repurpose devices like Raspberry Pi into ‘plug-and-play’ weapons for digital fraud. With GEOBOX on the Dark Web, their capabilities are even more sophisticated, enabling manipulation of GPS, network simulation, Wi-Fi mimicry, and anti-fraud filter evasion.

Cybercriminals are targeting IoT devices for illicit activities through OPSEC techniques and customizable settings, allowing these devices to operate without logs and ensure anonymity for perpetrators, reveals research from the US-based cybersecurity solutions and services provider, Resecurity. 

According to Resecurity’s Cyber Threat Intelligence team, a significant discovery has been made on the Dark Web: a malicious tool known as GEOBOX. This tool can turn ordinary IoT hardware into powerful weapons for cybercriminals. GEOBOX represents a “paradigm shift in cybercriminal tactics,” highlighting the evolving nature of threats in the digital landscape.

GEOBOX is being sold on Telegram (Screenshot credit: Resecurity)

GEOBOX is a powerful, deceptive tool specifically designed for the Raspberry Pi 4 Model B devices to facilitate cybercriminals in anonymization and fraud. It was first discovered while investigating an online banking theft involving a high-net-worth (HNW) client of a Fortune 100 financial company, prompting researchers to dig deeper into its workings.

The emergence of GEOBOX is not unexpected, appearing shortly after the discovery of another dark web tool known as TMChecker. TMChecker has been arming ransomware gangs, specifically targeting the e-commerce and aviation industries with precision cyberattacks.

The research blog, shared by Resecurity with Hackread.com, ahead of publication on Monday revealed that threat actors have already used multiple internet-connected GEOBOX devices as proxies, each placed at a strategic remote location, enhancing their anonymity.

This complicated the investigation and tracking process, as GEOBOX devices do not store logs by default. Resecurity observed a bad actor using GEOBOX with two LTE-based wireless modems for enhanced anonymization, particularly in remote connections.

The package can be rented for a lifetime fee of $700 or a monthly rate of $80, payable in cryptocurrency and advertised on major underground forums and Telegram. The user manual provides clear instructions on the download and installation of the Raspberry Pi OS using Raspberry Pi Imager, how to obtain the GEOBOX Software Image and work with the GEOBOX software.

It is a feature-rich tool, including WebRTC IP for discreet online communication, GPS spoofing for geolocation manipulation, and the ability to mask Wi-Fi MAC addresses. The device requires at least 4 GB of RAM, but an 8 GB version is also available offering superior performance. 

Further, it connects to the internet via Ethernet or USB modem and offers various tabs like INTERNETBOX, MIDDLEBOX, Proxy, VPN, and Wi-Fi, each providing specific functionalities. Users can configure various internet connection types, including VPN protocols like L2TP, PPTP, L2TP-IPsec, Wireguard, SSTP, Zerotier, and OpenVPN, and even create a VPN tunnel within another VPN tunnel. 

GEOBOX can help threat actors in cyberattack coordination, dark web market operations, sophisticated financial frauds, circumvention of government censorship, anonymous malware distribution, credential stuffing campaigns, disinformation campaigns, surveillance evasion in authoritarian regimes, content piracy and geo-restriction bypassing, and network security testing.

That’s not all. Cybercriminals can also use GEOBOX to fake their geographical location using a GPS-like driver, bypassing location verification checks on websites like Whoer.net and browserleaks.com, and creating customized accounts on popular platforms like Google and Amazon.

The emergence of GEOBOX necessitates robust digital risk monitoring and endpoint protection strategies, making collaboration between law enforcement agencies, deployment of proactive measures, and continuous innovation in cybersecurity strategies fundamental to counter such threats effectively.

1.  Kaspersky’s iShutdown Tool Detects Pegasus Spyware
2.  New Dark Web Market Styx: Focuses on Money Laundering
3.  USB Wormable Raspberry Robin Malware Hits Windows PCs
4.  Building Your Defense Toolbox: Tools to Combat Cyber Threats
5.  Following WormGPT, FraudGPT Emerges for AI-Driven Cyber Crime

New GEOBOX Tool Hijacks Raspberry Pi, Lets Hackers Fake Location

By Owais Sultan
Entering the dynamic world of cryptocurrencies is pretty exciting. But one can easily get overwhelmed with the amount…
This is a post from HackRead.com Read the original post: Step-by-Step Guide to Creating Your First Crypto Wallet

Entering the dynamic world of cryptocurrencies is pretty exciting. But one can easily get overwhelmed with the amount of information that floods you once you dip your toes. 

Since you’re looking to create a crypto wallet, this guide was designed to help you as a newbie complete this process without a hassle. It will highlight the distinction between custodial and non-custodial wallets, emphasizing the benefits of each, and walk you through the setup process. 

****Two Types of Crypto Wallets****

There are two main types of wallets: custodial and non-custodial. Understanding the difference between these two is detrimental to making the right decision. 

****Custodial Wallets****

Custodial wallets are managed by a third-party entity, such as a cryptocurrency exchange or a specialized wallet service. When you use a custodial wallet, the private keys to your cryptocurrencies are held by the service provider.

****Advantages:****

*   Custodial wallets often offer a user-friendly interface, making them accessible to beginners. 
*   Users don’t need to worry about managing their private keys, as the service provider takes care of security.
*   If you forget your password or lose access to your account, you can recover your funds through the service provider’s customer support.

****Disadvantages:****

*   By entrusting your private keys to a third party, you’re exposed to the risk of the service being hacked. 
*   Since the service provider controls the wallet’s private keys, they have the ultimate authority over your funds. This control includes the ability to freeze accounts or delay transactions, which might be concerning for some users.

****Non-Custodial Wallets: Security and Autonomy****

Non-custodial wallets give you full control over your cryptocurrency by allowing you to manage your wallet’s private keys. This means that only you have access to your funds and the authority to make transactions.

****Advantages:****

*   Since you’re the sole holder of the private keys, the risk of external breaches is significantly reduced. 
*   You have complete autonomy over your funds, without any intermediary having the power to freeze or manage your assets. 

****Disadvantages:****

*   Managing your private keys means you must be vigilant in securing them. Losing your keys without a backup can result in the irreversible loss of your assets.
*   Non-custodial wallets can be more complex to use, especially for those new to cryptocurrency. 

Your choice between a custodial and non-custodial wallet will depend on what you value more: convenience or control. For those who prioritize ease of use and are just getting their feet wet in the crypto world, a custodial solution might be the way to go.

On the other hand, if you’re keen on having full control over your assets, a non-custodial wallet is your best bet. But then you must learn how to safely store and manage your keys, which might be tough for a beginner.

****Setting Up Your Wallet****

Regardless of the type of wallet you choose, the setup process is generally straightforward. Here’s how you can get started:

****Research****

Look for a reputable wallet provider. For non-custodial options, consider security features and compatibility with different cryptocurrencies. For custodial wallets, assess the platform’s reliability and customer service.

****Download and Install****

Once you’ve chosen your provider, download the wallet application on your smartphone or computer. Follow the installation instructions.

****Create Your Wallet****

Open the application and select the option to create a new wallet. You’ll likely be prompted to set up a password or PIN for additional security.

****Backup Your Wallet****

If you’re using a non-custodial wallet, you’ll be given a recovery phrase. It’s crucial to write this down and store it in a safe place. This phrase is your lifeline if you ever lose access to your device.

****Deposit Cryptocurrency****

You can now transfer crypto into your new wallet. You can do this by purchasing cryptocurrency through an exchange and sending it to your wallet’s address or receiving it from someone else.

****Introducing Nonbank: The Best of Both Worlds****

Now, let’s talk about Nonbank (PDF). It’s a new player but their concept is intriguing. Nonbank offers the convenience of a custodial wallet with the security and control of a non-custodial option. The upcoming Tron Wallet feature is especially noteworthy for those interested in managing both digital and traditional financial assets seamlessly. 

Setting up a wallet with Nonbank is a breeze. Their user interface is intuitive, making it easy for beginners to navigate. With Nonbank, you’re not just getting a wallet; you’re getting a comprehensive platform that supports your journey through the crypto space.

****To Sum Up****

Choosing the right wallet is a critical step for anyone venturing into the cryptocurrency world. Whether opting for a custodial or non-custodial wallet, the primary considerations should be convenience, security, and control. Nonbank can be a great tool to simplify the management of your digital and traditional assets, which makes it an excellent choice for you as a newcomer. 

1.  5 Types of Crypto You Didn’t Know Existed
2.  The Future of MATIC and What to Expect in 2024
3.  Navigating the new frontier of cryptocurrency futures
4.  What the Bitcoin ETF Approval Mean for the Crypto Market
5.  Enhancing Blockchain Randomness To Eliminate Trust Issues
6.  Exploring the Phenomenal Rise of Ethereum as a Digital Asset