Transneft Says Its Computers Were Used For Mining Cryptocurrency
MOSCOW, Dec 15 (Reuters) - Transneft said on Friday its computers had been used for the unauthorised manufacture, or "mining", of the cryptocurrency Monero but said the firm now had systems to prevent this happening again.
Monero is a rival to Bitcoin, which is the world's biggest cryptocurrency. Cryptocurrencies enable individuals to transfer value to each other and pay for goods and services bypassing banks and the mainstream financial system.
Software for mining cryptocurrency were automatically downloaded from the web by a Transneft computer and was then deleted, spokesman Igor Demin told Reuters. He said the pipeline company had programmes to such block downloads in future.
Demin said other companies could face malicious software aimed at mining cryptocurrency.
"Incidents where the company's hardware was used to manufacture cryptocurrency have been found. It could have a negative impact on the productivity of our processing capacity," Transneft Vice President Vladimir Rushailo told a company meeting on Thursday .
Rushailo, who is also a former interior minister, did not elaborate.
An industry expert said hackers were likely to use corporate hardware to manufacture virtual currencies more often in future. "More and more people have learnt that, in fact, they do not even need to stand up from the sofa to make money - if they are not caught", Pavel Lutsik, a head of information security projects with Croc IT firm, told Reuters.
Under Russian law, a person trying to hack corporate servers faces up to six years in jail and this would likely be extended to 10 years in 2018, Lutsik said.
Russia's central bank has said there were risks that cryptocurrencies could be used for money laundering and the financing of terrorism.
The Russian authorities have repeatedly said they would control and supervise the market for virtual currencies.
(Reporting by Olga Yagova, Vladimir Soldatkin and Denis Pinchuk; Writing by Denis Pinchuk; Editing by Jason Neely and Edmund Blair)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Weatherford CEO's Rebound Plan Relies On Getting Smaller
- Iran Says Oil Market Is Too Tight For US Zero Exports Target
- China's Squeezed 'Teapots' Eye Petchem Path To Riches
- Baker Hughes: US Drillers Add Oil Rigs For Second Week In Three
- Venezuela Hands China More Oil Presence, But No Mention Of New Funds
- Gunvor CEO Sees Russian Refining Capacity Taking Hit from Drone Strikes
- Sinopec Engineering Posts Higher Annual Petrochemicals Revenue
- Subsea7 Secures Contract to Service Woodside's Trion
- These Factors Helped Brent Oil Price Break Above $85
- Imperial Pipeline in Winnipeg Goes Offline for Three Months
- Adnoc Inks Supply Deal for Ruwais LNG Project with Germany's SEFE
- Gaz System to Acquire Gas Storage Poland
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- EIA Drops 2024 Henry Hub Gas Price Forecast
- EIA and Standard Chartered Offer Up Latest Oil Price Predictions
- Red Sea Region Sees Another Watershed Incident
- Chevron Oil Project in Kazakhstan to Cost $48.5B
- OPEC Voices Encouragement after IEA Affirms Support for Oil Security
- Biden Govt Bares Strategy for Freight Charging, Hydrogen Fueling Infra
- Rystad Looks at the Buzz Around White Hydrogen
- Ukraine Hits Third Russian Refinery In Escalating Drone Strikes
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Is Peak Oil Demand Close?
- Vessel Sinks in Red Sea After Missile Strike
- JP Morgan, Standard Chartered Reveal Latest Oil Price Forecasts
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Rystad Forecasts Net Production of Top Permian Producers in 2024
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension