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Norton Is Bundling Cryptomining Software With Its Antivirus

While the feature is turned off by default and can be enabled only on computers that meet certain hardware requirements, it’s not exactly easy to remove it entirely.

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norton is bundling cryptomining software with its antivirus

Many users install an antivirus to protect themselves from cryptomining malware, such as KryptoCibule, which silently hijacks system resources and uses them to mine various cryptocurrencies.

The users of Norton 360 don’t have to wait for cryptominers to infect their computers because the company behind the popular antivirus software has generously included one with the application.

Called Norton Crypto, the cryptomining tool has been available in Norton 360 since June 2021, allowing users to painlessly mine Ether, the native cryptocurrency of Ethereum.

norton crypto status dashboard

“As the crypto economy continues to become a more important part of our customer’s lives, we want to empower them to mine cryptocurrency with Norton, a brand they trust” explained Vincent Pilette, CEO of NortonLifeLock, the company that owns the Norton product line. “Norton Crypto is yet another innovative example of how we are expanding our Cyber Safety platform to protect our customer’s ever-evolving digital lives”.

However, not all users of Norton 360 welcome this innovation, and some have already canceled their subscriptions to put some weight behind their disapproval of the new feature. One common complaint users have is that the presence of a cryptominer could make them juicy targets in the eyes of cybercriminals, who have been actively going after cryptocurrency owners ever since Bitcoin became a well-known name.

Also Read: Young Arabs Are Embracing The Fintech Revolution

While the feature is turned off by default and can be enabled only on computers that meet certain hardware requirements (the presence of a capable NVIDIA graphics card is one of them), it’s not exactly easy to remove it entirely. To do that, it’s necessary to temporarily disable the tamper protection feature Norton 360 uses to prevent malware from disabling it.

What’s more, Norton Crypto is a blatant cash grab because it charges a fee of 15% in addition to the cost of Ethereum’s transaction fees. To put the number into perspective, most other Ethereum mining pools, which anyone can join without much effort, charge just 1 or 2%.

Clearly, someone at NortonLifeLock has decided to pursue what they must believe is a terrific opportunity to join the cryptomining mania, and they’re willing to see how their user base will react.

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Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

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mamo completes $3.4 million funding round to enhance fintech services
Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.

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