#alcoins An alternative cryptocurrency (altcoin) recorded an unexpected increase of more than 50% in its price on April 28, 2025, after a reported alleged cyberattack involving the theft of 330 million dollars in Bitcoin (BTC).

The sudden rise of the cryptocurrency generated speculation about its relationship with the Bitcoin transaction, which would have been used to launder funds through instant exchanges.

Cryptocurrency soars 50% after an alleged cyberattack: what happened

This is Monero (XMR), the crypto designed to prioritize privacy and decentralization. Blockchain researcher ZachXBT reported that a Bitcoin address received 3,520 BTC, equivalent to $330.7 million, in a suspicious transfer.

Shortly after, the funds were exchanged for Monero on nearly six platforms, which triggered an increase in demand for XMR and pushed its price up to $339, a level not seen since 2021.

The trading volume of Monero increased by more than 450% in a span of 24 hours, rising from an average of $50 million to over $300 million. The market capitalization of XMR also grew by $2 billion.

The rise of Monero is attributed to its privacy features, which allow the identity of senders and recipients in transactions to be hidden, making XMR a preferred option for those seeking anonymity in the crypto space, and raised suspicions about its use in illicit activities.