On-chain researcher Zachxbt may have determined that privacy coin Monero (XMR) rose by 40% in early Monday: someone was probably hacked.
A suspicious transfer was made from a potential victim for 3520 BTC ($ 330.7m) nine hours ago
Theft address
BC1Qcrypchnrdx87jnal5e5e5M849fw460T4gk7vz55gShortly after, the fund was looted through 6+ instant exchanges and swapped to XMR, which made the XMR price spike …
– zachxbt (@zachxbt) 28 April, 2025
Zachxbt reported that 3,520 bitcoin (BTC) ($ 330.7 million) was extracted from a address and then swapped to XMR.
The market data shows a spike in more incoming instability in purchasing orders for the XMR-BTC order book.
Market supervisors initially had a difficult time to determine that the main spikes did not increase the metrics such as active wallets and network activity.
The liquidity for the XMR has been limited over the last few months as major exchanges removed the privacy tokens into a bid to fight dark net markets. Lack of liquidity would have purchased a catalyst for any mass pricing benefit. Coingko data Shows that the depth of the order for XMR is much smaller than the token of the same market cap.
XMR coindesk is trading for more than $ 300 according to markets data.
