{"id":233297,"date":"2022-04-20T23:00:51","date_gmt":"2022-04-20T22:00:51","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=233297"},"modified":"2025-12-03T12:42:42","modified_gmt":"2025-12-03T12:42:42","slug":"report-ransomware-groups-show-preference-for-monero-charge-more-for-bitcoin-ransom","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/report-ransomware-groups-show-preference-for-monero-charge-more-for-bitcoin-ransom\/","title":{"rendered":"Report: Ransomware groups show preference for Monero, charge more for Bitcoin ransom"},"content":{"rendered":"<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Ransomware attackers prefer to receive their ransom payment in a popular privacy token, Monero (<\/span><a href=\"https:\/\/cryptoslate.com\/coins\/monero\/\"><span style=\"font-weight: 400;\">XMR<\/span><\/a><span style=\"font-weight: 400;\">), due to its ability to obfuscate sending and receiving wallets, according to a <a href=\"https:\/\/4345106.fs1.hubspotusercontent-na1.net\/hubfs\/4345106\/Content\/Current%20Trends%20in%20Monero%20Usage%20and%20Ransomware_FINAL.pdf?utm_campaign=Research&utm_medium=email&_hsmi=210465645&utm_content=210465645\">report<\/a> by blockchain analytics firm, CipherTrace.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In the report titled Current Trends in Ransomware, the analytics firm highlighted the observable trends in <\/span><a href=\"https:\/\/cryptoslate.com\/report-crypto-ransomware-payments-in-2021-was-over-600-million\/\"><span style=\"font-weight: 400;\">ransomware attacks<\/span><\/a><span style=\"font-weight: 400;\"> between 2020 and 2021. According to the firm, there was notable growth in \u201cdouble extortion attacks\u201d within the said time frame.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">A double extortion attack occurs in a situation where the hacker not only steals his victims\u2019 sensitive data but also encrypts it. This forces the victim to pay a ransom to access the data even as the malicious actor may still have a copy.<\/span><\/p>\n<h2><b>Premium on Bitcoin for Ransomware\u00a0<\/b><\/h2>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The report said most ransomware attackers receive their payment in Monero, while those who accept other digital assets like <\/span><a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> usually add 10% to 20% premiums.<\/span><\/p>\n<blockquote><p>&#8220;Higher prices for BTC are most likely seen by the ransomware actors as a premium for dealing with the increased risk in using an easily traceable cryptocurrency like BTC.&#8221;<\/p><\/blockquote>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The report added that at least 22 of the more than 50 ransomware groups accept only Monero. An example is the Everest Group, a Russian-speaking ransomware group that claimed it hacked the US government last year and is \u201ccurrently trying to sell the data for $500,000 worth of XMR.\u201d<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Another Russia-based REvil ransomware group that was dismantled earlier this year also switched from receiving payments in BTC to XMR in 2020.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">However, some groups still accept <\/span><a href=\"https:\/\/cryptoslate.com\/5-2-billion-worth-of-bitcoin-btc-paid-out-in-ransomware\/\"><span style=\"font-weight: 400;\">payments in both Monero and BTC<\/span><\/a><span style=\"font-weight: 400;\">. The DarkSide group, which hacked Colonial Pipeline in May 2021, requested ransom in BTC or XMR.<\/span><\/p>\n<h2><b>Monero is planning a hard fork.<\/b><\/h2>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Monero community believes the coin\u2019s privacy feature provides its users with utopian financial freedom; several crypto exchanges have been forced to delist these privacy coins because of their widespread use by malicious actors.<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">However, the de-listing is not a deterrent to the project developers who are planning <\/span><a href=\"https:\/\/cointelegraph.com\/news\/monero-community-reaches-consensus-for-july-hard-fork\"><span style=\"font-weight: 400;\">a hard fork in July<\/span><\/a><span style=\"font-weight: 400;\">, which would increase its chain ring size from 11 to 16.\u00a0<\/span><\/p>\n<p style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This move would help increase anonymity by making it harder to reverse engineer transactions. The hard fork also intends to add view tags to output, implement fee changes, and introduce bulletproof.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ransomware attackers prefer to receive their ransom payment in a popular privacy token, Monero (XMR), due to its ability to obfuscate sending and receiving wallets, according to a report by blockchain analytics firm, CipherTrace. In the report titled Current Trends in Ransomware, the analytics firm highlighted the observable trends in ransomware attacks between 2020 and [&hellip;]<\/p>\n","protected":false},"author":720,"featured_media":233415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[76799,16041],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Report: Ransomware groups show preference for Monero, charge more for Bitcoin ransom<\/title>\n<meta name=\"description\" content=\"A new report has revealed that ransomware attackers prefer to receive their ransom payments in privacy-focused coin, Monero.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/report-ransomware-groups-show-preference-for-monero-charge-more-for-bitcoin-ransom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Report: Ransomware groups show preference for Monero, charge more for Bitcoin ransom\" \/>\n<meta property=\"og:description\" content=\"A new report has revealed that ransomware attackers prefer to receive their ransom payments in privacy-focused coin, Monero.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/report-ransomware-groups-show-preference-for-monero-charge-more-for-bitcoin-ransom\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-20T22:00:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-03T12:42:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/04\/monero-ransomware-groups.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Oluwapelumi Adejumo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Oluwapelumi Adejumo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/report-ransomware-groups-show-preference-for-monero-charge-more-for-bitcoin-ransom\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/report-ransomware-groups-show-preference-for-monero-charge-more-for-bitcoin-ransom\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#person\",\"name\":\"Oluwapelumi Adejumo\",\"url\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/oluwapelumi-adejumo\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/12\/profile-photo-oluwapelumi-adejumo-300x300.jpg\",\"caption\":\"Oluwapelumi Adejumo\"},\"jobTitle\":\"Senior Reporter\",\"description\":\"Oluwapelumi values Bitcoin's potential. 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