The privacy coin Monero (XMR) experienced a price surge following a massive $330 million Bitcoin (BTC) hack. Blockchain expert JackXBT, as reported by Cointelegraph, revealed that the victim is an elderly American. On May 28th, a staggering 3,520 BTC was stolen from an anonymous address (bc1qcr...). The hackers immediately began converting the stolen Bitcoin into Monero across at least six different exchanges. This rapid and large-scale conversion likely fueled the increase in Monero's price as demand spiked. The victim's identity remains undisclosed, but the age demographic adds a layer of intrigue to the already complex situation. The movement of funds and the choice of Monero highlight the continued use of privacy-focused cryptocurrencies for illicit activities, despite increasing regulatory scrutiny. The full impact on the cryptocurrency market remains to be seen. ```

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