Monero replaces Bitcoin for Sodinokibi Ransomware operators

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As Bitcoins and BTC transactions are no more anonymous, those propelling Sodinokibi Ransomware have decided to abandon Bitcoin and switched to Monero Cryptocurrency acceptance.

It is already a fact that law enforcement agencies with the help of some technology companies have started tracking the ransom payments made in BTC currency.

So, some operators who were seen distributing Sodinokibi Ransomware have made it formal that soon the bitcoin will be replaced with an alternative of Monero cryptocurrency and so from now on victims who are targeted by Sodinokibi gangs should pay a ransom in Monero in exchange for the decryption key.

Another highlight of the alerting post is that those spreading the file-encrypting malware want the Monero transaction to be done only on the TOR browser as it keeps the entire activity invisible from snooping eyes of police and government agencies.

Meanwhile, a recent find from the security researchers of Kaspersky Labs says that over 900K to 1.2 million users are vulnerable to ransomware attacks every 6 months and the number might rise in the scenario of the Novel COVID 19 Pandemic as more and more people are adopting work from home activity.

“We are strongly discouraging victims from paying a ransom”, said Brian Bartholomew, the Principal Security Researcher of Global Research and Analysis Team, Kaspersky North America.

There is no guaranty that the hackers will return a decryption key when a ransom is paid and it encourages more people to commit crime added Brian.

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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