{"id":434379,"date":"2022-04-20T06:51:47","date_gmt":"2022-04-20T03:51:47","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/monero-crypto-of-choice-as-ransomware-double-extortion-attacks-increase-500\/"},"modified":"2022-04-20T06:51:47","modified_gmt":"2022-04-20T03:51:47","slug":"monero-crypto-of-choice-as-ransomware-double-extortion-attacks-increase-500","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/monero-crypto-of-choice-as-ransomware-double-extortion-attacks-increase-500\/","title":{"rendered":"# Monero crypto of choice as ransomware \u2018double extortion\u2019 attacks increase 500%"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a38d4e9881eb\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a38d4e9881eb\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/monero-crypto-of-choice-as-ransomware-double-extortion-attacks-increase-500\/#%E2%80%9D_Monero_crypto_of_choice_as_ransomware_%E2%80%98double_extortion_attacks_increase_500_%E2%80%9C\" >&#8221; Monero crypto of choice as ransomware \u2018double extortion\u2019 attacks increase 500% &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Monero_crypto_of_choice_as_ransomware_%E2%80%98double_extortion_attacks_increase_500_%E2%80%9C\"><\/span>&#8221; Monero crypto of choice as ransomware \u2018double extortion\u2019 attacks increase 500% &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNmRjNjk1NDYtZTVjNy00ZTM0LTk0NTEtNThhMWQ0Zjc0OTI1LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>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.<\/p>\n<p>\u201cCurrent Trends in Ransomware\u201d delves into trends observed during 2021 but was only released this week. The firm<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/4345106.fs1.hubspotusercontent-na1.net\/hubfs\/4345106\/Content\/Current%20Trends%20in%20Monero%20Usage%20and%20Ransomware_FINAL.pdf?utm_campaign=Research&amp;utm_medium=email&amp;_hsmi=210465645&amp;utm_content=210465645\"> revealed<\/a> there was almost a 500% increase in \u201cdouble extortion\u201d ransomware attacks from 2020 to 2021. These are cyber attacks in which malicious actors steal a victim\u2019s sensitive data in addition to encrypting it.<\/p>\n<p>The report echoes similar findings from analytics firm Chainalysis which reported that overall ransomware crypto payments topped $600 million for the period.<\/p>\n<p>The new research found that last year saw increasing demands for ransom payment in Monero (XMR), with attackers adding premiums for payments made in Bitcoin (BTC) ranging from 10 to 20%. At least 22 ransomware strains (from an incomplete list of more than 50) only accept XMR payments, and at least seven of them accept both BTC and XMR, it added.<\/p>\n<blockquote><p>\u201cHigher prices for BTC are most likely seen by the ransomware actors as a premium for dealing with the increased risk in using an easily traceable cryptocurrency like BTC.\u201d<\/p><\/blockquote>\n<p>The report cited a Russian-speaking ransomware gang called Everest Group which claimed to have hacked the U.S. Government in October last year. According to CipherTrace, Everest Ransomware is \u201ccurrently trying to sell the data for $500,000 in XMR.\u201d<\/p>\n<p>Another example was the Russian DarkSide group responsible for the U.S. Colonial Pipeline attack in May 2021. The ransom could be paid in either XMR or BTC, but the cost was higher for the latter.<\/p>\n<p>The REvil ransomware group also switched from demanding BTC to demanding payments in XMR only in early 2020.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Don\u2019t blame crypto for ransomware<\/em><\/strong><\/p>\n<p>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.<\/p>\n<p>For that reason, Monero and other highly privacy-focused cryptocurrencies such as Dash and Zcash have been delisted by some exchanges in countries such as the U.K. and Japan.<\/p>\n<p>The Monero blockchain will be hard forked in July to further enhance its anonymity and privacy properties. <\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/monero-crypto-of-choice-as-ransomware-double-extortion-attacks-increase-500\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Monero crypto of choice as ransomware \u2018double extortion\u2019 attacks increase 500% &#8220; 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. \u201cCurrent Trends in Ransomware\u201d delves into trends observed during 2021 but was only released this week&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":434380,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNmRjNjk1NDYtZTVjNy00ZTM0LTk0NTEtNThhMWQ0Zjc0OTI1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74963,74355,73240],"class_list":["post-434379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-monero","tag-adoption","tag-ransomware"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/434379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=434379"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/434379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/434380"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=434379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=434379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=434379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}