A trend of hackers demanding privacy-focused cryptocurrencies as payment may be forming

Quick Take

  • In the past month, an Australian drink manufacturer and Telecom Argentina S.A have both been victims to ransomware attacks that demanded Monero.
  • These ransoms of demanding Monero may be one-off events, or it is the beginning of a new trend of illicit actors demanding cryptocurrencies that are private by default. 
When it comes to the utilization of privacy tech in digital assets, it has been debated whether privacy is just a feature or if it needs a token of its own, as demonstrated in coins like Monero or Zcash. Projects have spawned that use technologies such as zk-SNARKs or other mixing methods like CoinJoins — […]

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