Monero coin, a crypto currency that prides itself of being untraceable, was used to hold the … [+]
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The Colonial Pipeline ransom was paid in Monero, an “untraceable” cryptocurrency designed for full privacy of transactions. Most of it, we got back, according to the Department of Justice. Then JBS, the world’s largest meat packer, was held hostage. As that story unfolds, Russians are often considered the boogey men behind it all. No one knows for sure whether the hackers are government-directed or not.
But one curious trend is happening in the world of high-tech thievery: cryptocurrency is the Miami penthouse of offshore money launderers, the receptacle of the ill-gained cash. And concern that governments will crack down on crypto because of ransomware hacks, and traditional tax evasion, has a lot to do with the recent sell off in Bitcoin, down around 40% in the last two weeks.
Moreover, if it’s new tech related; foreign money wants it. But some of that money…
