Apparent bitcoin theft worth $330 million spikes Monero price in laundering frenzy: ZachXBT

Quick Take

A suspicious transaction involving approximately 3,520 BTC ($330.7 million) took place on Sunday, in what on-chain investigator ZachXBT believes may be a theft.

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Apparent bitcoin theft worth $330 million spikes Monero price in laundering frenzy: ZachXBT

By Timmy Shen

Security • April 28, 2025, 4:01AM EDT



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The Block

Quick Take

A suspicious transaction involving approximately 3,520 BTC ($330.7 million) took place on Sunday, in what on-chain investigator ZachXBT believes may be a theft.





A "suspicious" transfer worth around 3,520  BTC +0.60%

 ($330.7 million) occurred on Sunday, which appears to be a theft event, according to on-chain investigator ZachXBT.

ZachXBT reported on X that the transfer was made from a potential victim's wallet to the address "bc1qcry...vz55g." Shortly after the transfer, the stolen funds were laundered through more than six exchanges and converted to Monero ( XMR +26.34%

) to obfuscate the activity. This triggered an immediate 50% spike in XMR's price due to the size of swaps and thin liquidity on the platforms.

XMR jumped 35% in the past 24 hours to trade at $308.5 at the time of writing, according to The Block's price page.

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