Apparent bitcoin theft worth $330 million spikes Monero price in laundering frenzy: ZachXBT
Quick Take A suspicious transaction involving approximately 3,520 BTC ($330.7 million) took place on Sunday, in what on-chain investigator ZachXBT believes may be a theft.
A "suspicious" transfer worth around 3,520 BTC ($330.7 million) occurred on Sunday, which appears to be a theft event, according to on-chain investigator ZachXBT.
ZachXBT reported on X that the transfer was made from a potential victim's wallet to the address "bc1qcry...vz55g." Shortly after the transfer, the stolen funds were laundered through more than six exchanges and converted to Monero (XMR) to obfuscate the activity. This triggered an immediate 50% spike in XMR's price due to the size of swaps and thin liquidity on the platforms.
XMR jumped 35% in the past 24 hours to trade at $308.5 at the time of writing, according to The Block's price page .
This is a developing story.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
From Queen’s Dream to Prison Gate: Zhi Min Qian and the Absurd Scam Involving 60,000 Bitcoins
The specific handling of this huge amount of Bitcoin will be decided early next year.
After zero commission, the new battleground is the "discovery and discussion layer"—whoever captures the talent there will be the new broker.
Social is becoming the underlying infrastructure of finance.
Analysis of Monad's 18-Page Sales Document: How Does 0.16% of Market Making Chips Support a 2.5 Billion FDV?
This document also systematically discloses a large number of important details such as legal pricing, token release schedule, market-making arrangements, and risk warnings.
Tom Lee: Recognize the eve of the crypto asset explosion, fasten your seatbelt!
Trending news
MoreCrypto prices
More
