Cooperative localization using range-based measurements is critical for multi-robot systems operating in GPS-denied and unstructured environments. However, traditional cooperative approaches require sharing explicit spatial coordinates across the network, presenting a severe security vulnerability in privacy-sensitive missions. While recent literature has explored privacy-preserving alternatives, these methods typically rely on accuracy-degrading noise injection or computationally prohibitive cryptographic protocols. To overcome these limitations, we propose a novel, natively privacy-preserving Decentralized Cooperative Localization (DCL) framework based on convex optimization. Discarding probabilistic noise models, we assume strictly bounded measurement noise and formulate the localization problem via Semi-Definite Programming (SDP) to compute a Maximum-Volume Inscribed Ellipsoid (MVE). Our approach introduces novel intersection-plane constraints derived from landmark measurements to significantly tighten individual spatial bounds. To incorporate inter-robot range measurements securely, we uniquely decompose coupling constraints into localized Linear Matrix Inequalities (LMIs). Agents achieve fleet-wide spatial consensus by iteratively exchanging only abstract dual variables, completely avoiding the transmission of explicit primal position estimates. Extensive 3D Monte Carlo simulations demonstrate that our DCL framework outperforms existing SDP-based localization method in accuracy, while guaranteeing operational privacy and maintaining highly scalable, parallelizable computation.

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