Sunday, February 28, 2021

Sodinokibi Ransomware Crew to Replace Bitcoin (BTC) with Monero (XMR) for Ransom Payments

The crew behind the Sodinokibi Ransomware is on the verge to completely replace Bitcoin (BTC) with the privacy coin, Monero (XMR), for ransom payments.

According to the report, Sodinokibi Ransomware crew have started accepting the Monero (XMR), due to its ability to make the transaction information private,  to make funds transfer info harder for law enforcement agencies to track.

Going by the report, Bitcoin payments will soon be totally removed by the crew. The use of the Tor anonymized network makes it impossible to trace funds and attempts to unravel the personality behind the campaign.

Transactions in the Monero are made anonymous due to the CryptoNote application layer protocol and the obfuscation implemented in the protocol.

Any transaction in the Monero (XMR) is anonymous due to the CryptoNote application layer protocol and the obfuscation implements into the protocol.

Sodinokibi operators said:

“In this regard, we inform you that after a while the BTC will be removed as a payment method. Victims need to begin to understand the new cryptocurrency, as well as other interested parties who work with us.”

According to BleepingComputer, the ransomware operators have started opting for Monero (XMR), rather than Bitcoin (BTC).

“On the Sodinokibi Tor payment site, the ransomware operators have already started to move away from bitcoin by making Monero the default payment currency.”

Also, Bitcoin ransom has been increased on the platform by 10%, in order to discourage the use of Bitcoin.

Ransomware operators stated thus:

“Companies that assist our victims in acquiring the decryptor will be pleasantly surprised by the% discount on the amount of the ransom. In order to start working 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 do not disclose the data of our partners,”

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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1 COMMENT

  1. But Craig S. Wright (aka: self proclaimed Satoshi himself) Says he can trace ANY monero transaction and that is isn’t private at all.

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