#XRPETFs

3520 BTC Stolen, Converted to XMR, Raising

By Coincu The suspected theft of 3,520 Bitcoin was reported by on-chain investigator ZachXBT nine hours ago. Following this, the stolen Bitcoin was quickly exchanged for Monero, affecting its market price.

The incident has significant implications in the crypto space as the conversion caused a 50% increase in Monero's price.

3,520 BTC Theft Spurs Monero’s 50% Price Surge

ZachXBT, a renowned crypto investigator, flagged the theft involving 3,520 BTC. The incident saw the stolen Bitcoin moving to a specific address before a rapid conversion to Monero through several exchanges. This choice of Monero is common among thieves due to its privacy features, which obscure transactions, making it challenging to trace funds. The swift asset swap catalyzed a 50% spike in Monero's price, highlighting a massive immediate liquidity shift.

The event is notable for its immediate market reactions. The surge in demand for Monero, a privacy-centric cryptocurrency, underscores its use for laundering. As of April 28, 2025, no official statements from exchanges or regulatory bodies have been made regarding measures to address this theft or enhance tracking protocols, showcasing the complexities law enforcement faces in combatting crypto thefts.