Monero likely pumped 50% due to suspected $330M Bitcoin theft: ZachXBT
A suspected $330 million Bitcoin theft flagged by ZachXBT saw the funds laundered through Monero, triggering a XMR price surge.
Onchain sleuth ZachXBT has flagged a suspicious transfer involving 3,520 Bitcoin (BTC), valued at $330.7 million, that may indicate a major theft. The transaction, reported on April 28, saw funds moved from a potential victim’s wallet to the address bc1qcry…vz55g.
Following the transfer, the stolen stash was quickly laundered through over six instant exchanges and swapped into privacy-focused cryptocurrency Monero (XMR).
The large-scale conversion led to a 50% spike in XMR’s price with the token reaching an intraday high of $339, according to data from CoinMarketCap.
