Monero’s crypto of choice as ransomware ‘double extortion’ attacks increase 500%
A new report by blockchain analytics firm CipherTrace highlights the growing role that privacy-focused cryptocurrencies such as Monero are playing in the rising tide of ransomware.
Monero is a privacy-based cryptocurrency that uses a combination of technologies such as mixers, ring signatures and stealth addresses that obfuscate sending and receiving wallets. This is why it has become the primary asset of choice for those demanding ransoms.