Yesterday, there was a significant surge in Monero (XMR). This coin is certainly familiar to veteran players, as it is inherently very hacker-oriented, and a major centralized exchange (CEX) directly collaborated to ban it... This shows how much this community is resented by exchanges... It is known that most CEXs have been drained by professional hackers several times... Plus, Monero is also a union of hackers who specialize in researching cryptocurrencies... It is bound to have countless conflicts resulting in a bloodbath...

This coin surged from 220 to 320 in just one day yesterday, with an amount of 3520 BTC (330.7 million USD) stolen from the address bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g. These funds quickly exchanged for XMR through the protocol, causing the exchange rate to explode; as of now, it has slowly dropped back to 250.

Surely someone will ask why this person insists on exchanging back to Monero instead of slowly holding other coins. Why endure such a significant exchange rate loss? Below are all my personal guesses; feel free to take them as jokes.

A XMR is essentially a community organization of a group of heroes (outlaws), whose value is supported by the spirit and activity of the organization. Moreover, this organization has a very strong execution capability. Let me give you an example to illustrate: when a certain mining machine manufacturer launched its ASIC miner, within 48 hours, the Monero community directly forked the algorithm, rendering it useless... This shows the execution power of their community.

B You can understand it as a group of heroes from Water Margin occupying a hill, periodically coming down to rob, and exchanging the stolen goods for some form of general equivalent used for small-scale trading (like cured meat and fine wine). It's understandable. Internally, a significant portion of the work settlement is likely Monero itself. For instance, this time's hacking must have been completed through collaboration among numerous top hackers.
This time, hackers stole hundreds of millions of dollars, directly causing a surge in fine wine and meat from Shandong, which makes sense.

C Bitcoin itself lacks sufficient smart contract exchange channels, while XMR should have retained a considerable amount of swap infrastructure early on, facilitating hackers to act quickly. Therefore, it became the preferred choice for this rapid settlement. After all, with so many coins, and being a major player, hackers are also afraid of touching the tiger’s tail. If it happens to be General Jin’s treasure or some mining boss’s treasure, that would be troublesome...

D The accompanying image did not show the USD price; I provided a graph of the exchange rate trend between XMR and ETH.