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DOMAINS TOKEN-G

Ronald Maguire

18 April 2022 331 Read Crypto , Altcoins

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What Is Monero (XMR) and Why Is It Famous?

Monero is the cryptocurrency of choice for ransomware actors as it is a privacy-providing cryptocurrency. In recent ransomware attacks, attackers prefer to be paid with XMR for the data obtained. Monero, which provides more anonymity to hackers than other cryptocurrencies, was delisted from many cryptocurrency exchanges.

Blockchain data on the Monero network does not indicate from which wallet the XMRs were transferred to which wallet. So XMR is an untraceable crypto. Hackers can get paid with XMR and then secretly exchange these cryptos for cash.

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