John Oliver, the host of the American satirical show ‘Last Week Tonight,’ took aim at privacy coin Monero (CRYPTO: XMR).
What Happened: In a 22-minute segment speaking on ransomware, John talked about a Monero promotional video and said, “There’s a pretty clear subtext to what they’re selling there.”
The ad shows potential users of Monero that they could be their own bank and “escape government repressions and nosy neighbors or crooks.”
Mocking the video, John said, “It’s like seeing a cheerful ad for plastic tubs, the size, and shape of a human body. You could put into one of these sturdy tubs. Also, they’re scream proof. No matter how much sound something makes inside, you’ll never hear it. [sic]”
Why It Matters: In the show, John spoke about ransomware and how illicit cryptocurrency payments are made to cybercriminals.
John pointed out privacy coins like Monero are deliberately designed to be near-impossible to trace by law enforcement.
Talking about John’s take on Monero, Leo Oenomaus, Monero outreach organizer, told Decrypt, “I don’t fault John Oliver for poking fun at an old Monero. However, I am disappointed that he was unable to recognize the utility of a private and untraceable cryptocurrency in a society of ever-growing mass surveillance,”
In May, Norwegian police tried to crack Monero as a wider investigation into a missing person case.
Monero uses cryptographic techniques to obfuscate and obscure potentially identifying information.
Price Action: Monero was trading at $263 at press time, 3.36% lower over the last-24 hours.