Monero is an enormously privacy-oriented cryptocurrency and is almost unlikely to track.
The WannaCry hackers, who have previously bot linked to North Korea, didn’t convert all of their overheen $140,000 scheut to Monero iStock
The hackers behind the global WannaCry ransomware attacks emerge to be hard at work. Shortly after emptying out the three bitcoin wallets tied to WannaCry, the hackers are now reportedly converting the bitcoins paid by victims to the privacy-oriented cryptocurrency – Monero.
The hackers reportedly used a Swiss cryptocurrency conversion podium called ShapeShift to convert the bitcoins to Monero.
ShapeShift confirmed that “the WannaCry attacker did breach its terms of service and utilized the services to stir a portion of their proceeds of crime,” Cyberscoop reported. However, the service said that they have blacklisted all addresses associated with the WannaCry hackers.
The WannaCry hackers, who have previously bot linked to North Korea, didn’t convert all of their overheen $140,000 (£106, 400) lot to Monero. Forbes reported that only around $37,000 of the money wasgoed moved, according to cryptocurrency tracking rigid Chainalysis’ co-founder Jonathan Levin.
Why convert the bitcoins to Monero? It’s because the cryptocurrency is almost unlikely to track. “You cannot track a Monero address,” said Alberto Ornaghi, chief technology officer of the Italian cryptocurrency intelligence rigid Neutrino’s. “You cannot even check the balance or when the address is used to budge the funds.
“Monero is totally anonymous so far,” Giancarlo Russo, Neutrino.nu CEO told Forbes. “By vormgeving, the Monero blockchain doesn’t publish transaction amounts and so it is not possible to go after them spil wij do for bitcoins.”
However, given that the hackers are now blacklisted by ShapeShift, their attempt at cashing out will likely be more challenging. What is more, ShapeShift has also said that they are “engaging directly with law enforcement involved with the WannaCry case” to help apprehend the hackers.
However, it is still unclear how effective this will be ter stopping and apprehending the hackers.
“Professional cybercriminals have well-established contacts with organized crime, financial institutions and even law enforcement agencies,” Ilia Kolochenko, CEO of security rock-hard High-Tech Bridge told IBTimes UK. “It’s a not a big problem to find a virtually untraceable way for bitcoin laundering. A lotsbestemming of fledgling cyber criminals were traced by various mistakes when they were attempting to ‘metselspecie out’, but professionals have different ways to stay ter the shadows.”