Monero outlook: how a $330M Bitcoin heist fueled XMR’s 50% surge

Privacy token Monero remained elevated during the weekend as Bitcoin closed the previous week above $90K . While proponents cheered XMR’s remarkable performance, blockchain investigator ZachXBT observed a crucial on-chain development. ZachXBT noticed a suspicious transaction involving 3520 Bitcoin, worth around $330.7 million (late Sunday). The transfer originated from a possible victim’s address before being redirected to a recognizable theft wallet. ZachXBT @zachxbt · Follow Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)Theft addressbc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55gShortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike 10:30 AM · Apr 28, 2025 1.3K Reply Copy link Read 242 replies Notably, the stolen BTC started moving across over six instance exchanges shortly – a popular move from scammers looking to minimize traceability by concealing transactions. The perpetrators did not stop there. They swapped a massive amount of the laundered Bitcoin into Monero (XMR). Criminals favor this privacy token to ensure financial anonymity. That translated to a sudden demand for Monero and propelled the alt’s price by over 50% within hours. XMR rallies on unexpected demand The thieves opted for instant exchanges to facilitate token swaps without creating user accounts. Using multiple platforms to spread the transactions allowed them to disperse the laundered BTC before leading blockchain analysis firms could notice the doubtful activities. While XMR is known for its relatively stable price actions compared to assets like Solana and Ethereum, the massive Bitcoin channeled through Monero triggered significant movements. The sudden liquidity shock, as millions of funds entered the XMR ecosystem, sparked an abrupt supply crunch. The unusual buy pressure grabbed the crypto community’s attention, amplifying speculative purchases. The alt sored to the peaks of $338 before correcting. Why scammers prefer Monero Cryptocurrencies are known for their decentralization and transparency, with all transaction details available to the public. However, Monero is different with its fungible, untraceable, and private features. It boasts innovative cryptographic techniques, including stealth addresses and ring signatures, to hide transaction trails. That makes Monero a perfect choice for online fraud, as cybercriminals can move massive illicit funds without immediately alerting blockchain investigators and watchdogs. Thus, the over $330 million swap was more of a premeditated move to capitalize on Monero’s privacy to hide the illegal transaction. XMR price outlook The altcoin trades at $290 after retracing from the daily peak of $338. The over 350% increase in 24-hour trading volume signals robust trader activity, possibly as market players seek to capitalize on the prevailing volatility. XMR still hovers over 25% higher from its daily low. Chart by Coinamrketcap While bulls target further gains, the emerging scam allegation threatens Monero’s momentum. Thus, XMR could dip toward the foothold at $230 in the upcoming hours. Furthermore, the massive BTC theft could attract scrutiny from regulators, who perceive privacy tokens as risky assets for terrorist financing and money laundering. Increased regulatory inspection could welcome events such as stiffer KYC policies and de-lists from leading exchanges. That would mean prolonged struggles for Monero and privacy-focused cryptocurrencies. The post Monero outlook: how a $330M Bitcoin heist fueled XMR’s 50% surge appeared first on Invezz

Source: Invezz