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ZachXBT: The rise of Monero is linked to a major BTC theft
According to analyst ZachXBT, the explosive growth of Monero by 50% is directly connected to the theft of bitcoins totaling $330 million. Over the weekend, unknown individuals withdrew a huge amount of BTC, washed the funds through six exchanges, and then converted them into Monero.
Monero, having low liquidity, reacted instantly with a sharp increase. Even long-time XMR holders did not expect such a gift.
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