Orthographic similarities across languages provide a strong signal for unsupervised probabilistic transduction (decipherment) for closely related language pairs. The existing decipherment models, however, are not well suited for exploiting these orthographic similarities. We propose a log-linear model with latent variables that incorporates orthographic similarity features. Maximum likelihood training is computationally expensive for the proposed log-linear model. To address this challenge, we perform approximate inference via Markov chain Monte Carlo sampling and contrastive divergence. Our results show that the proposed log-linear model with contrastive divergence outperforms the existing generative decipherment models by exploiting the orthographic features. The model both scales to large vocabularies and preserves accuracy in low- and no-resource contexts.