A suspected $330 million Bitcoin theft flagged by on-chain investigator ZachXBT has led to a significant surge in Monero ($XMR) price. On April 28, ZachXBT identified a suspicious transaction involving 3,520 BTC, worth $330.7 million, being moved from a victim’s wallet to a specific address. Shortly after, the stolen funds were quickly laundered through multiple exchanges and swapped into Monero, causing the cryptocurrency’s price to skyrocket.
XMR surged by 50%, peaking at an intraday high of $339 before stabilizing at $289, up 25% in 24 hours. While some speculated that North Korea's Lazarus Group could be behind the theft, ZachXBT dismissed the theory, suggesting that independent hackers were likely responsible.
In a related discussion, Chainalysis pointed out that although privacy coins like Monero are gaining attention for their potential use in criminal activities, the majority of illicit transactions still rely on mainstream cryptocurrencies such as Bitcoin and Ethereum. Despite this, Monero is seeing increasing acceptance, with recent reports confirming its use in Spar supermarkets in Switzer
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