Cyber criminals are targeting gamers with “mining malware” as they look to get crypto-rich, according to research published by security firm Avast.

The so-called “Crackonosh” malware is being hidden in free versions of games like NBA 2K19, Grand Theft Auto V, Far Cry 5, The Sims 4 and Jurassic World Evolution, which are available to download on torrent sites, Avast said on Thursday.

Once installed, Crackonosh quietly uses the computer’s processing power to mine cryptocurrencies for the hackers. The malware has been used to generate $2 million worth of a cryptocurrency known as monero since at least June 2018, according to Avast.

Avast researcher Daniel Benes told CNBC that infected users may notice that their computers slow down or deteriorate through overuse, while their electricity bill may also be higher than normal.

“It takes all the resources that the computer has so the computer is unresponsive,” he said.

Some 220,000 users have been infected worldwide and 800 devices are being infected every day, according to Benes. However, Avast only detects malicious software on devices that have its antivirus software installed so the actual number could be significantly higher. Brazil, India and the Philippines are among the worst affected countries, while the U.S. has also seen many cases…read more.

I remember my very first time walking into a Costco store. I was curious but also a little bemused by the displays, and I didn’t know quite what to make of the throngs of oversize shopping carts that had formed around a table of sweatpants. As a kid, I went on trips with my mom to our local BJ’s Wholesale Club, but this wasn’t the same. On top of that, years of carless, walk-up-apartment living in New York had altered my idea of what shopping was. Many suburban Americans swore by Costco, but I just didn’t get it. Why were diamond rings placed next to packages of sunscreen? And who is buying this many pickles? It was like standing in the center of Disney World during spring break, except instead of kids flocking to costumed characters, very eager grownup customers had swarmed a Costco worker offering samples of pot stickers.

It wasn’t long before I, too, began buying the sweatpants, the sunscreen, the pickles and the pot stickers.

Whether it was my move to the suburbs that inspired my appreciation for Costco or the other way around is a real chicken-and-two-dozen-pack-of-eggs question. For the more than 2 million other Americans who became first-time homebuyers last year — especially the large numbers of millennials for whom low interest rates and remote-work flexibility made homeownership attainable — a Costco Wholesale Corp. membership might be their next addition. The Costco team, led by CEO Craig Jelinek, has done everything it can to make it a necessity. And its success at doing so has been a boon for the company and its shareholders.

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Norway’s central bank has once again cemented itself as a hawkish outlier in the G10 policymaker arena. Norges Bank is now penciling in its first rate hike in September, and its rate projection indicates that may well be followed by another in December and March of next year. In total there are four hikes in by the end of next year, and another couple by the end of 2024.

In a sense none of this is too surprising. The Norges Bank had already been signaling at least one hike this year, and in effect the latest rate path just adds in one additional hike over what was in the March profile. The bounceback in Norwegian activity, coupled with slightly higher oil prices and a weaker NOK (relative to what the central bank says it would expect given energy price levels), all contributed to the higher rate path.

At this stage, there’s little reason to doubt that these rate hikes will materialize, barring further Covid-19 surprises. But does this tell us much about what other central banks might do? We suspect it doesn’t. Remember back in 2019, the Norges Bank hiked interest rates three times, while the Fed was busy cutting… CLICK for complete article and charts

(Bloomberg) — Trying to keep up with the frenzied rise of so-called meme stocks might feel a bit like playing a game of whack-a-mole, bewildering analysts and investors alike.

While there’s no steadfast definition of what constitutes a meme stock, one common thread across the many names being pitched on social media is a focus on heavily shorted companies. Shares of Reddit icon GameStop Corp. jumped as much as 2,500% in January after day traders noticed its short interest had ballooned to record levels.

Investors looking for other stocks that might fit that mold will find nearly 230 firms with a market capitalization of at least $100 million and short interest of 15% or more, according to S3 Partners data compiled by Bloomberg. More than 80% of those names have managed positive returns over the last month with the average gain sitting at about 18%, while the S&P 500 Index rose 2.3%.

Among the most heavily shorted stocks are names like Clover Health Investments Corp., Workhorse Group Inc. and Geo Group Inc., which have already caught the attention of retail traders in recent days.

Meanwhile, Bumble Inc. and Petco Health and Wellness Co., both fresh off initial public offerings this year, find themselves on the outside looking in as part of the few companies on the list that haven’t seen outsized gains over the last month. Joining them is ad-tech firm PubMatic Inc., which boasts the highest short interest at 54%, recreational boat retailer MarineMax Inc. and biotech company Black Diamond Therapeutics Inc., which has plunged more than 50% over the last month.

While these sudden rallies can create lucrative returns for investors in the blink of an eye, the extreme volatility that accompanies them can quickly catch traders offside, leaving them holding the bag as shares plunge back to earth.

After opening the week with a 32% gain, Clover Health’s shares jumped by as much as 142% over the next two days. But, by the close of trading Thursday, anyone who had bought and held shares after Monday’s pop was now underwater.

“I can’t imagine this is going to continue in the same form or fashion for much longer,” said Barry Schwartz, chief investment officer at Baskin Wealth Management. “Just because something is shorted doesn’t mean buying it is going to work out for you,” he added. “You’re playing with fire.”

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