Ransomware Attack Aftermath: Wannacry Hackers Fail to Launder Their Loot

[WannaCry Hackers’ Bid for Ransom Withdrawal Bites the Dust](http://techbooky.com/140k-wannacry-money-gone/)

Amid the ever-present chatter around bitcoin and parallel cryptocurrencies, these digitized forms of exchange have yet to secure mass approval by the governments of major economies like the US and UK. Despite cryptocurrencies being perceived by many enthusiasts as the cardinal future of cashless transactions, their inherent security flaw unsettles governments far and wide. This inherent flaw is user confidentiality; cryptocurrencies are frequently exploited in illicit activities such as narcotics trafficking, money laundering, or tax evasion, thereby posing substantial legal headaches.

In an interesting turn of events, reports from the BBC indicate a foiled attempt by the hackers behind the notorious WannaCry ransomware to launder their illicit earnings. It appears that the hackers sought to obfuscate their identity by resorting to an even more anonymous virtual currency than bitcoin.

Made infamous when it ensnared over 200,000 computers spanning across 150 countries, the WannaCry ransomware attack led its victims to shell out in excess of $140,000 in bitcoins across three different wallets to recover files encrypted by the assault.

Following the assault, global detection was squarely focused on the identity of the malefactors behind the attack. Consequently, experts in the field of digital security unanimously agreed that attempts to move around the maliciously earned money would likely be unsuccessful.

However, the perpetrators attempted to evade surveillance by moving the bitcoin bounty put of the original wallets. Unsurprisingly, this put them at a greater risk of being detected via their unique bitcoin transaction details. Predictably, this is exactly what transpired, resulting in the freezing of the accounts used to transfer the bitcoins.

The hackers had intended to capitalize on an exchange network called shapeshift.io to convert their ransomware proceeds into the Monero cryptocurrency. Unlike conventional exchange platforms, shapeshift.io enables transactions without a registered account, further bolstering the hackers’ anonymity. Additionally, the Monero blockchain guards transaction details and user identities assiduously, thereby making it a perfect tool for money laundering attempts.

However, thanks to prompt intervention from the administrators of shapeshift.io, the ransom laundering attempt was promptly forestalled. According to a spokesperson who communicated with Forbes: “As of today, we have taken measures to blacklist all addresses associated with the WannaCry attackers known to the Shapeshift team. Additionally, we are engaging directly with law enforcement involved with the WannaCry case and will assist them in any way possible to apprehend the culprits.”

In the face of increasingly sophisticated and stealthy digital criminal endeavors, it is reassuring to see cooperation from tech firms with law enforcement agencies during such critical times. Following this incident, Shapeshift vowed to obstruct any future endeavors to convert WannaCry bitcoins into Monero or any other cryptocurrency.

It is heartening to see the sense of solidarity demonstrated by the tech community, putting national security before user privacy. As opinionated as it may be, it is essential that security should always be prioritized over privacy, especially when clear and present threats to national security are evident.