Chinese antivirus developer Qihoo 360 has created software to monitor compliance with the Chinese government’s measures to ban cryptocurrency mining.
Chinese antivirus software company Qihoo 360,
reported on the creation of a system for monitoring cryptocurrency mining operations, which will help the government in the “fight against fraud”, or rather, with miners.
The monitoring system is aimed at government agencies and companies that intend to comply with China’s latest measures to combat cryptocurrency mining. According to the statement, the software can provide IP addresses of mining pools, geographic location, network type, connection frequency, and suggest methods to suppress them on the network.
Last week, Chinese users were unable to connect to some of the largest mining pools due to a DNS attack. This type of attack means that responses to queries for the pool’s domain names do not point to the actual IP addresses where their servers are located. According to Qihoo 360, there were 109,000 IP addresses active daily for mining in November, mainly in Guangdong, Jiangsu, Zhejiang and Shandong provinces. Miners use home broadband, dedicated internet connections, and data centers.
A few days ago, the Director of the Anti-Money Laundering Monitoring and Analysis Center of the People’s Bank of China called for the development of a system to combat the illegal use of cryptocurrencies and NFTs. Guo Wenjun stated that cryptocurrencies have become a convenient tool for illegal collection of money, pyramid schemes and fraud.
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