The last few months have seen Monero (XMR) presence in the news take a low profile only to surface as one of the best performing privacy coin in a bearish market. The coin has once again become the center on a scandal involving the comic site Oatmeal ransom DDOs attack.
The crypto crime, initiated by unknown user, is demanding $300 worth of XMR to stop the DDoS attack. In the recent past, Monero has been blamed for similar crimes where attackers are using unsuspecting user computers to mine XMR. The goal of the attack is to blackmail Oatmeal, a popular e-comic book website, for their personal gains.
This forced the website founder, Matthew Inman alert the site user on twitter saying:
“Hey everyone, my site is still down from the DDOS attack. I just received this email, which is attempting to extort me for money to stop the attack. I’m still figuring out what to do, but I might end up having to switch hosts. Thanks for being patient.”
According to sources from Oatmeal, the ordeal lasted for about 3 hours before getting the $300 in XMR payment demand. However, the demand has not been settled as the site owner is said to have deployed an anti-DDoS protocol to bring the attack to a premature end.
Monero (XMR) is a Double Faced Coin
Crypto jacking instances are on the rise and most crypto criminals appear to have developed a soft spot for Monero as the right vessel for their criminal acts. Monero is highly anonymous and seen as a supporter of dark web dealings but on the brighter side, it is transparent when being used in crypto exchanges that are KYC and AMR compliant.
The double face Monero features are being used to perpetuate crypto crime and Oatmeal site has been previously involved on cryptos and this makes it an easy target for ransom attacks. Monero has been fighting the menace and is yet to come up with a viable solution leaving more system prone to crypto jacking.
Monero (XMR) Future Remains Bright
Despite the coin being associated with the ransom attack, the future still remains bright according to a report released recently. The study focuses on the future of the crypto industry and has indicated that Monero (XMR) is projected to hit $18,000 in the next 5 years and 39,000 in 10 years’ time. The good news appears to be targeting the elusive investor given the controversies surrounding the coin.
However, the report goes on to say that the growth of XMR is paged on 90% of other coins venturing into off-shore depository marketplaces. Monero growth will be paged on its uncensored nature and the facts that it gives the user an upper hand in obfuscating select transactions and user data.
Monero (XMR) Current Price Surge
Monero (XMR) has a way of remaining relevant in the market despite the controversies. Being used for ransom and attack purposed is a good testimony that it is a true privacy coin. Majority of its users are comfortable with the features and this has made the platform stand out from the crypto verse crowd to attract a specific audience.
The coin does not struggle in its marketing front; its adoption is based on its infrastructure and use cases. This has led to its current price stability. The Oatmeal case has not affected the XMR price surge. In real sense, it has added more visibility to a coin that was trading in the red to gains 7.02% to trade at $108.39. It is a coin that thrives on the mantra; “if you cannot beat it, be a part of it.”