Monero crypto of choice as ransomware ‘double extortion’ attacks increase 500%
A surge in ransomware in 2021 has also resulted in a surge in Monero usage as the method of payment as more criminal groups want only XMR. 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.“Current Trends in Ransomware” delves into trends observed during 2021 but was only released this week. The firm revealed there was almost a 500% increase in “double extortion” ransomware attacks from 2020 to 2021. These are cyber attacks in which malicious actors steal a....
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