The Monero cryptocurrency (XMR) could be the preferred means of payment for operators who have been attacked by fraud Ransomware known as Sodinokibi.
As described by Lawrence Abrams, a security expert, Sodinokibi has started using Monero instead of Bitcoinas a means of payment for ransom. The main reason for switching to XMR is that it becomes more difficult for the authorities to track cryptocurrency payments and therefore not be punished.
Abrams stated that the operator of the Ransomware Sodinokibi recently posted his intentions in a hacker forum. There they assured that they are using Monero to make it difficult for the police to find information. Therefore, on the payment page activated in Tor, those who make payments with Bitcoin 10% surcharge on the ransom amount. The malware operators also said that over time, they will eliminate Bitcoin as a payment method.
In addition, the operators of the Ransomware They offer the service of “partners” who help victims pay the ransom. «To work with us, it is enough to write in a chat and introduce yourself as a company of this type of activity. Our collaboration is completely anonymous. We don’t share our partners’ data, ”they said.
Monero becomes the hacker’s favorite
On the other hand, seminars by the European Police Office (Europol) confirm that the use of Tor in conjunction with Monero has made it impossible to track the funds and intellectuals involved in the crimes. With that in mind, CryptoNews has reported cases where authorities have tracked down bitcoins and have been able to stop some illegal activity. However, due to Monero’s data protection features, it is practically impossible to track down the funds and their holders.
In one of the seminars, Europol strategist and analyst Jerek Jakubcek reported on a case in which a fundraiser due to a suspect could not be completed used a combination of Tor and data protection cryptocurrencies. “We could not track any IP addresses. That means we are reaching the end of the street. What happened in the beginning of the Bitcoin blockchain was visible and therefore we could go a bit far, but the investigation ended in Monero.”
It should be noted that Europol 2017 expressed concern about Monero’s growing popularity among hackers. By 2020, the agency reiterated its claim on the subject: transactions in Monero cannot be tracked.