Monero (XMR) Surges In Price After News Of Ransomware Attack Makes Headlines 

Even if Monero has been on low key for a few months, it was one of the best performing cryptocurrency during the last bear market. While Other cryptocurrencies were following Bitcoin’s lead and dropping in price, Monero was doing relatively well. Today, the news in the headlines is that Monero (XMR) was at the center of a ransomware attack on a comic oatmeal site.

Monero (XMR) Price Today – XMR / USD

Name Price
bitcoin
Bitcoin
$10,345.001.36%
monero
Monero
$86.314.56%

The criminals demanded $300 in Monero (XMR) as ransom after initiating the attack. This is not the first time Monero has been demanded in such attacks. Some critics say that the fact that Monero is the most privacy centric cryptocurrency in the industry is what makes it attractive to cyber criminals. The attacker planed to blackmail the owner of the e-comic site for personal gains. The website founder had to tell the public about it in Twitter. In his words:

“Hello everyone, my site is down because of a DDOS attack. The attacker has sent me an email with his demands. They want me to pay a certain amount to stop the attack. I am still thinking of what to do but if it continues I may have no choice but the switch hosts. Thanks for your understanding.”

Sources familiar with the matter said that the attacker has requested for $300 in XMR. The attack lasted for about three hours before the site owner was able to gain control using an anti-DDoS protocol. Even if the site owner claimed not to have paid the ransom the news still increased the price of Monero (XMR) significantly.

Monero (XMR) Price Analysis Now

At the time of writing, the XMR token was trading at $109.77 which indicates a 11.18% rise in price against the USD and a 10.46% rise in price against Bitcoin. The trading volume within a 24 hour period is $37,079,564 while the market capitalization is about $1,796,416,931. There are currently 16,365,312 XMR in supply. The next few days of trading will determine if Monero will keep trading in green or not.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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