- A suspected Bitcoin theft worth 3,520 BTC ($330.7 million) led to laundering across six exchanges, with the stolen funds converted into Monero (XMR), causing the price to surge by 51% before retracing.
- Monero (XMR) experienced sharp price volatility due to large swaps and thin liquidity, with trading volume rising by 55% within two hours.
Monero saw a major surge in its price after Bitcoin worth approximately $330.7 million, (3,520 BTC), was suspiciously transferred from a suspected victim’s wallet to an unknown address. On-chain investigator ZachXBT reported that the event, which happened on Sunday, appears to be a theft.
The details of the theft were covered by on-chain investigator ZachXBT. Shortly after, the funds moved through more than six exchanges and were swapped into Monero (XMR), causing the price of XMR to increase by 51% to $347.72 within seven hours before retracing.
Monero (XMR) currently trades at $281.55 and has a high of 23.4% in the last 24 hours and 31.0% on the 7-day chart.
source: coingecko.com
ZachXBT noted that the high transaction fees and the users’ suspicious movements suggest that it is a case of theft, although he believes there’s a high probability that North Korea was not involved. He also pointed out that the victim had been a longtime Bitcoin holder.
Monera (XMR) Volatility and Price Surge Due to Bitcoin Theft
Due to large swaps and thin liquidity, XMR experienced sharp price movements, and traders have been warned to expect increased volatility and greater regulatory attention. From a trading view, the theft and laundering created new risks and chances across several cryptocurrency pairs.
For instance, XMR’s price jumped 8.2% within two hours, suggesting that there has been an overbuy for XMR/USDT and XMR/BTC watchers. On Binance, XMR/USDT volume rose to $42.3 million between 15:30 and 17:30 UTC on April 28, 2025, marking a 55% rise compared to the earlier 24-hour average of $27.2 million.
Monero’s Privacy Features
Monero is the largest privacy-related token with a $5.3 trillion market cap and the 27th biggest cryptocurrency by value. Unlike other blockchain tokens and networks like Bitcoin and Ethereum, where everyone can see all transactions and track funds across wallets, Monero uses special technologies to hide wallet addresses and activities.
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