In early January, hackers drained over $200 million from a crypto wallet and swapped some of the loot into Monero, a type of digital token designed to be near-impossible to trace. To Monero’s most devoted fans, it was a sign that things were working just the way they should.
Monero, with a total market value of about $6 billion, is increasingly the token of choice on darknet sites dealing in drugs and stolen data, according to a new report by by blockchain analysis firm TRM Labs. Monero is also popular among ransomware groups, said TRM’s head of policy Ari Redbord.
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