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ZachXBT Uncovers Shocking eXch Crypto Laundering Hub Seized in Germany

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  • German authorities dismantled the eXch crypto laundering hub, seizing €34 million in cryptocurrencies and eight terabytes of forensic data, marking Germany’s third-largest crypto asset seizure.
  • eXch, launched in 2014, became a major dark web platform for laundering stolen crypto, processing over $1.9 billion before being shut down.
  • On-chain analyst ZachXBT exposed eXch’s involvement in high-profile heists, including the $243 million Genesis Creditor hack, leading to its eventual takedown.

German authorities have dismantled one of the most prolific dark web crypto-swapping platforms, eXch, seizing millions in digital assets and striking a serious blow to cybercriminal networks worldwide.

Coordinated by the Frankfurt Public Prosecutor’s Office (ZIT) and the Federal Criminal Police Office (BKA), the operation led to the confiscation of €34 million in cryptocurrencies and eight terabytes of forensic data. The raid marks Germany’s third-largest crypto asset seizure to date and underscores a growing global crackdown on digital money laundering.

Launched in 2014, eXch quickly evolved into a critical infrastructure piece for the digital underworld. With no Know-Your-Customer (KYC) protocols, zero oversight, and complete anonymity, the service offered a secure gateway for criminals to launder stolen or scammed crypto assets. Heavily promoted on darknet forums, eXch allowed users to effortlessly convert tainted coins into clean ones, seemingly leaving no trace behind. According to investigations led by ZachXBT, the platform became a central node in global cybercrime.

Investigators estimate that over $1.9 billion in cryptocurrency passed through eXch before its shutdown. The platform provided services to ransomware operators, darknet vendors, and crypto thieves. Its lack of regulation made it an essential tool for illicit financial activities, a situation that ZachXBT and other experts worked hard to expose.

ZachXBT Exposes eXch in $243M Crypto Crime Ring Bust

The platform’s criminal ties came under intense scrutiny following investigations by on-chain analyst ZachXBT, who uncovered eXch’s involvement in several high-profile crypto heists. These included the Bybit multi-signature wallet exploit and the $243 million Genesis Creditor hack. Despite overwhelming evidence of its role in laundering stolen funds, eXch refused to cooperate with law enforcement or freeze suspect assets. That defiance made it a high-value target.

Though eXch preemptively announced a voluntary shutdown on May 1, German authorities didn’t wait. Working in collaboration with Dutch law enforcement, they launched a coordinated raid, securing critical data and financial assets linked to the platform’s operations. The speed and precision of the takedown show a shift in international cybercrime strategy today. This new strategy emphasizes prevention over prosecution, changing how cybercrime is tackled on a global scale.

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“Cybercrime is no longer a fringe threat; it is industrialized. Our approach is now proactive, surgical, and data-driven. We go after them before they make their next move.” A spokesperson from the BKA stated.

ZachXBT Crushes eXch’s Crypto Scheme

eXch’s takedown sends a resounding message to the crypto underworld: blockchain might offer anonymity, but it also preserves evidence. As forensic tools evolve and international cooperation strengthens, safe havens for illicit finance are vanishing. This case is being praised as a model for future enforcement, demonstrating the power of blockchain analytics, cross-border intelligence, and legal authority to dismantle digital crime syndicates.

ZachXBT, a well-known blockchain investigator, has been instrumental in unraveling these complex digital networks, proving that anonymity is not absolute. His work highlights the importance of tracking illicit activity and ensuring that those who exploit digital currencies for illicit purposes are brought to justice.

For legitimate players in the crypto space, the message is clear: regulation and enforcement are catching up. Meanwhile, those hiding behind anonymous addresses should take heed: no one is untouchable. The success of eXch’s takedown, combined with efforts like ZachXBT’s, is proof that the walls are closing in on the crypto underworld.

Related | Bitcoin Solaris Outpaces Ethereum’s Transaction Speed While Enabling Phone Mining 

From Bitcoin Scam to Real-World Kidnapping: The $243M Crypto Heist and Its Deadly Aftermath

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  • Teen Hackers Steal 4,100 Bitcoin worth $243M Using Social Engineering Method
  • A week after pulling the heist, the hackers kidnapped Veer Chetal’s parents in an attempt to extort a larger share of the stolen funds.
  • By March 2025, five suspects had pleaded guilty and could face up to 1l5 years in prison.

The Bitcoin scam that started as an online theft, with a group of teenage hackers stealing $243 million worth of Bitcoin, has turned into something much more serious, like a real-life kidnapping in Connecticut.

The theft started on August 19, 2024, and was executed by three individuals: Greavys (Malone Iam), Wiz (Veer Chetal), and Box (Jeandiel Serrano). The trio targeted a single Genesis creditor, a cryptocurrency investor based in Washington, D.C. They carried out the heist using a complex social engineering scheme.

The attack started when one of the criminals placed a fake call and pretended to be someone from Google support. The criminal used a disguised number to gain the victim’s trust and access personal accounts. Shortly after, another call came from someone claiming to be from Gemini, one of the major crypto exchanges, warning the victim of a ‘supposed’ security breach.

Using this scare tactic, the criminals convinced the victim to reset two-factor authentication (2FA) and unknowingly transferred funds from their Gemini account to a wallet controlled by the hacker. After all of this, the hacker made a loss of 4,100 Bitcoin, worth $243 million at the time.

From Bitcoin Scam to Real-World Extortion

A week after the crypto theft, Veer Chetal’s parents, Sushil and Radhika, were forced into a van by armed men, tied up with duct tape, and driven off. Thankfully, there were nearby witnesses, including an off-duty FBI agent who helped the police track the van.

The couples were quickly released, and four out of the six kidnappers were caught within hours. The reason behind the attack was disturbing, as it is believed that Veer’s partners in the heist pressured him into giving up more of the stolen funds by using his parents as leverage.

That same evening, Greavys and Box were arrested, one during a SWAT raid in Miami and the other at LAX wearing a $500,000 watch. Veer was also taken in quietly and now faces federal charges. By March 2025, five of the six people involved in the kidnapping had admitted guilt, and there is a possibility that they could spend 15 years behind bars.

Authorities are still looking into others connected to the crypto scam, while a federal wallet now holds the recovered Bitcoin.

Read More: HBAR Price Faces Crucial Breakdown Risk, Will $0.15 Hold?

ZachXBT Confirms That The $330 Million Bitcoin Hack Targeted An Elderly Individual in the US.

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  • ZachXBT revealed that the $330 million Bitcoin theft targeted an elderly U.S. resident, with the stolen funds laundered through over six exchanges and swapped into Monero.
  • Hacken’s Extractor tool tracked the laundering process, revealing that over 300 wallets and 20+ services, including Binance, were used to move and hide the stolen crypto.


ZachXBT has revealed that an elderly person in the United States is the victim of a $330 million Bitcoin scam carried out through social engineering.

This massive theft, reported on Sunday, is now ranked as the fifth-largest crypto hack in crypto history. There’s been a lot of shock amongst members of the crypto community, and it has raised serious concerns about security and fraud prevention in the space.

How the Bitcoin Hack Was Carried Out

ZachXBT first reported a suspicious movement on April 28, 2025, that involved 3,520 Bitcoin, valued at $330.7 million. In the early hours of today, he reported more details, stating that the funds were stolen from an elderly US resident who had held more than 3,000 BTC since 2017, with no prior record of large transactions.

According to the details, immediately after the theft was completed, they quickly moved the crypto through over six crypto exchange platforms and converted it into Monero, a privacy-focused cryptocurrency. The large-scale swap caused Monero’s price to spike by 50% due to limited liquidity.

The stolen Bitcoin was laundered using a peel chain method, which, in basic terms, involves breaking large amounts into smaller parts in order to hide the trail.

Hacken’s tool, Extractor, tracked $284 million worth of BTC through these chains, which reduced to about $60 million after repeated redistributions across low-trust crypto exchanges. Rudytsia, one of the on-chain researchers at Hacken, confirmed that more than 300 wallets and over 20 services, including Binance, were involved in the transactions, according to Cointelegraph.

Read More: Crypto Crash Deepens as Over 50% of Coins Launched Since 2021 Fail, Leaving $3.7 Million Dead After Pump. fun era

Monero (XMR) Price Soars as $330M Bitcoin Theft Sparks Launders Across Six Exchanges

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  • 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.

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Monero (XMR) Price Soars as $330M Bitcoin Theft Sparks Launders Across Six Exchanges 3

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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Plot Twist! Crypto Critic Stole $30M From Jed Casino

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  • Trader “Derivatives Monke” ranted about crypto losers, only to be exposed by ZachXBT as allegedly stealing $30M from Jed Casino investors.
  • The trader called crypto a “graveyard of broken dreams” and mocked those who lost money for lacking real skills and being delusional.
  • ZachXBT claims the ranting trader gambled away the stolen $30M on highly leveraged crypto trades and high-risk speculation.

A renowned on-chain investigator exposed a crypto trader who allegedly gambled $30 million from Jed Casino investors. It all started when the anonymous trader called “Derivatives Monke” went on a long rant complaining about his friend who asked to bail him out after losing $10 million.

Referring to the crypto industry as the “graveyard of broken dreams,” he argued that 99% of guys who invest are “unemployable with no real skills.” According to him, the easy mode in crypto has long gone, and the market will only get more ruthless and harder with every passing cycle.

“If you’re not a 200 IQ Chinese quant coding algorithms in your sleep, forget about even trying to be profitable in this market. It is a slaughterhouse now.“

Continuing his brutal rant, he even mocked those who lost fortunes, saying they “feel extremely entitled to make large sums of money” and are a “walking caricature of greed and delusion.” “This isn’t a game for dreamers anymore; it’s a rigged casino with no jackpots left.”

He even went on to say that their family and friends will resent them for the rest of their life now that the cash has dried up. But then came the plot twist no one expected.

How $30M Crypto funds Was Gambled and Laundered

ZachXBT dropped a bombshell when he revealed that the trader ranting about crypto’s crash was in fact the person who allegedly stole $30 million from Jed Casino investors. Mincing no words, the on-chain investigator, known for his relentless exposés, stated that the trader gambled the funds on hyper-leveraged trades and high-risk speculation via HyperLiquid.

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Plot Twist! Crypto Critic Stole $30M From Jed Casino 5

The funds were then reportedly laundered through instant exchanges and crypto-to-cash OTCs over the past few months. Following the stunning revelations, Jason Choi of Tangent remarked, “What an insane plot twist, jfc!”

ZachXBT further shared screenshots revealing how several HyperLiquid accounts were blown away since December, all tied back to the stolen funds. The crypto community, who initially sympathized with the trader’s outburst, quickly turned. As of now, “Derivatives Monke” has not responded to ZachXBT’s explosive claims.

ZachXBT Accuses Hyperliquid Whale of Using Stolen Funds for Trades

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  • ZachXBT links Hyperliquid whale’s trade to stolen crypto funds.
  • Whale profits $9.4M from $520M Bitcoin short amid allegations.
  • Investigations reveal suspicious wallet transactions and malware ties.

A crypto trader known as “Hyperliquid whale” is under scrutiny. Blockchain analyst ZachXBT claims that the trader uses stolen funds to make high-leverage trading bets. ZachXBT has announced he will provide more evidence to support these fraud accusations within 24 hours.

Hyperliquid Whale Closes $520M Bitcoin Short Position

The trader, who operates under the X handle, @qwatio achieved mainstream attention when he closed a $520 million Bitcoin short position. The position, hosted on decentralized platform Hyperliquid, had been opened with 40x leverage. The trader obtained a total of $9.4 million profit after he closed the position.

During the last week the trader invested over $300 million in a long Ether position. However, HyperLiquid’s Vault lost $4 million when the position was liquidated.  The trader currently holds a 5x long position on the MELANIA token with a valuation of $3.3 million.

ZachXBT Accuses Hyperliquid Whale of Cybercrime

Blockchain investigator ZachXBT traced this trader’s transactions to what could be illicit sources. The investigative report revealed how the Hyperliquid whale’s wallet received  stolen funds from malware victims. Moreover, ZachXBT claims the trader’s wallet receives its funds primarily from illicit exchanges and online casinos which both serve as vehicles for money laundering operations.

The trader publicly denied any involvement in illegal actions despite the accusations against him. The individual reacted immediately to ZachXBT’s accusations and demanded proof about the alleged stolen funds. The trader questioned the validity of the allegations that their wallet received transactions from various suspicious sources. 

ZachXBT has not released the complete evidence yet but stated the evidence would be available soon. Initial findings show the trader recently obtained their X account which adds suspicion to their mysterious activities. Further analysis of the wallet’s transaction history shows irregular patterns consistent with illicit crypto transactions.

Concerns Over Security of Decentralized Platforms

The public debate about the Hyperliquid whale has raised concerns about the security of decentralized platforms. Moreover, it reveals the persistent challenges about tracking and verification of the source of funds across the crypto market. The development of  sophisticated blockchain analytics systems enables investigators to detect and expose questionable activities.

The Hyperliquid whale has attracted mixed responses from the cryptocurrency community. Some believe the trader’s high-risk transactions are normal trading operations while others remain suspicious about the source of the capital. The crypto community continues to monitor the investigation for more updates.

This investigation could have a major impact on the regulation of decentralized platforms.

Ripple Co-Founder Chris Larsen Connected to Billions in Inactive XRP Accounts

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  • ZachXBT uncovered dormant XRP wallets linked to Ripple co-founder Chris Larsen, holding around $7.18 billion, with some inactive for 6-7 years
  • Transaction records show that in January 2025, over $109 million worth of XRP was moved to exchanges like Coinbase, Bitstamp, and Bybit, fueling speculation
  • Following the news, XRP’s price surged 18%, rising from $2.23 to a high of $2.93 before closing at $2.60

Blockchain researcher ZachXBT has discovered that some wallets set up by Ripple co-founder Chris Larsen still contain $7.18 billion in XRP. 

These accounts have remained inactive, yet they continue to hold a massive amount of the crypto token. His findings have sparked discussions within the crypto community about the significance of these ‘untouched funds’.

Chris Larsen’s Dormant Ripple (XRP) Wallets Becomes Active Again

ZachXBT recently shared in his Telegram group that wallets created by Ripple co-founder Chris Larsen still hold over 2.7 billion XRP, valued at around $7.18 billion. 

Many of these accounts have been inactive for 6-7 years. His findings came up a short while after President Donald Trump revealed his plans for a U.S. strategic crypto reserve, which will include XRP, Bitcoin, Ethereum, Solana, and Cardano. 

Transaction records show that in January 2025, the account had a significant move with more than $109 million worth of XRP being transferred to different exchanges like Coinbase, Bitstamp, and Bybit, this action has caused more debate about these holdings.

ZachXBT gave more details about his discovery, noting that many of these wallets have not been used for 6-7 years. He suggested that Larsen probably lost access to the account or transferred funds to others in February 2013. However, he also pointed out that Larsen might no longer control all of the identified accounts.

This is not the first time Larsen’s crypto transactions have raised speculations about possible XRP sales. In September 2020, he moved about 500 million XRP, which was valued at $115 million at the time, to an unknown destination.

https://x.com/chrislarsensf/status/1308459310574264325?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1308459310574264325%7Ctwgr%5Ee82288020ac9459c08911406759309c10a7e0cfe%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcrypto.news%2Fzachxbt-alerts-investors-to-ripples-chris-larsen-xrp-addresses-holding-7-18b%2F

He later clarified that the transfer was to NYDIG for better security. However, some in the community speculated that this setup could allow hidden selling, though no solid proof has confirmed these claims.

The market reacted quickly to the news, causing XRP’s value to rise by 18%. It rose from a daily low of $2.23 to about $2.93 before settling around $2.60 at the close.

Related Reading | U.S. Senate to Vote to Overturn IRS Crypto Broker Rule

Bybit Launches $140M Bounty to Recover Stolen Funds After $1.4B Hack

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  • Bybit offers 10% recovery reward for tracking stolen funds.
  • Mantle’s protocol recovers $43M worth of stolen assets.
  • Tether freezes $181K USDT linked to the Bybit breach.

Bybit has launched a $140 million bounty program in response to a historic hack that saw the loss of over $1.4 billion in liquid-staked Ether (ETH) and MegaETH (mETH).The attack, one of the largest in crypto history, prompted swift actions from Bybit and industry partners to secure funds and track the stolen assets.

Bybit’s Recovery Bounty

Bybit announced a Recovery Bounty Program which offers 10% of recovered assets to security experts to recover the stolen funds. The Recovery Bounty Program demonstrates Bybit’s commitment to combat crypto crime and secure the future of the space. With over $1.4 billion in compromised funds, the bounty could total up to $140 million which offers a powerful incentive to the crypto community to help recover the stolen assets.

This initiative aims to incentivize hackers, analysts, and blockchain investigators to track and recover the stolen crypto. 

Agile Reaction Saves the Day Amid $1.4B Hack

After detecting the breach, Bybit’s security team immediately locked down its system and secured user funds. They coordinated with well-known cybersecurity firms such as Antalpha Global, Bitget, and MEXC, to manage the crisis.

Blockchain security companies blacklisted the hacker’s wallet addresses to prevent further unauthorized transfers, while Chainalysis tracked the movements of stolen funds in real time. The hack highlights the industry’s resilience and the importance of the crypto industry’s collaborative effort to manage security threats.

The involvement of top-tier institutional clients, such as Wintermute, Cumberland, and GSR Markets, helped stabilize the market. Their continued trading helped to prevent panic across the broader crypto market. Bybit’s CEO, Ben Zhou, expressed gratitude for the support received, highlighting the industry’s collective resilience in the face of malicious attacks.

Investigation Identifies ‘Hack’ Perpetrators and Means

Blockchain intelligence firms like ZachXBT and Arkham Intelligence have linked the breach to the North Korean-affiliated Lazarus Group, which has previously executed high-profile crypto exchange hacks.

Bybit Hack Overlap
Bybit Launches $140M Bounty to Recover Stolen Funds After $1.4B Hack 7

The investigation has also revealed that the stolen funds are being laundered across multiple platforms such as the Tron blockchain. An overlap address identified in the laundering process connected the Bybit, Phemex, and BingX hacks. This connection reinforces the involvement of the same group behind all three incidents which highlights a persistent threat to the crypto ecosystem.

Funds’ Recovery Progress

The recovery process has already shown some progress despite the complexity of the situation. On February 22, 2025, Mantle’s  liquid restaking protocol, mETH Protocol successfully recovered 15,000 cmETH tokens, valued at approximately $43 million at the current market price. Additionally, Tether CEO Paolo Ardoino confirmed that the company froze $181,000 in USDT related to the hack.

Bybit continues to collaborate with law enforcement and blockchain partners to track and recover the remaining stolen assets. 

WazirX Loses $230M In 8-Day Crypto Heist

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India’s leading crypto exchange WazirX suffered a security breach in one of its multisig wallets, losing over $230 million [2000 cr INR] in the onslaught. The exchange’s team is currently investigating the incident and assured users that their funds are safe. However, INR and crypto withdrawals will be temporarily paused.

Among the assets stolen are 5.43 trillion SHIB [$102 million], 15,298 ETH [$52.5 million], 20.5 million MATIC [$11.24 million], 640.27 billion PEPE [$7.6 million], 5.79 million USDT, and 135 million GALA [$3.5 million].

While further details are awaited, on-chain sleuth ZachXBT has submitted evidence of a KYC-linked deposit address used by the exploiter to receive funds from the WazirX exploit. The hackers orchestrated a methodical and organized attack, that lasted a total of 8 days.

Security experts have pointed the finger towards the infamous Lazarus group of North Korea as the hacker. On July 10th, ZachXBT found that the hacker’s address was involved in test transactions and was funded with Ethereum [ETH] through multiple smaller transactions. The attacker then used the crypto mixer Tornado Cash to hide the transaction trail.

WazirX
WazirX Loses $230M In 8-Day Crypto Heist 9

The investigator discovered six transactions in which the attacker received 0.1 ETH via Tornado Cash. Subsequently, the investigator matched the transactions flowing out of Tornado Cash with the deposits flowing into Tornado Cash, despite the attacker’s attempt to obfuscate the flow of funds. ZachXBT then managed to match the transactions coming out of Tornado Cash to the deposits going in. This means he could trace where the money was coming from despite the mixing attempt.

Rumors Of WazirX Hacker Contacting Vitalik Buterin

Unveiling the chain of transactions, he found that multiple addresses were connected through transactions. Some addresses use multi-signature wallets, which require several approvals for a transaction. This enabled him to find the final link where some of the funds were sent back to the exchange, proving that the hacker used a KYC-verified account at some point.

While the development is troubling for the struggling Indian crypto ecosystem, several screenshots of transaction trails have surfaced showing the alleged WazirX exploiter making statements like, ” I hacked WazirX tokens” to none other than Vitalik Buterin. Some users claim that this is not a theft but a statement, hoping that a deal works out between both parties.

DJT Token Drama: Arkham’s $150K Bounty Unmasks Creator

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DJT, a meme coin affiliated with former President Donald Trump is gaining massive traction due to heightened trader interest. More than the political ties, the token is hogging the limelight after on-chain sleuth ZachXBT revealed that the man behind the project is none other than “Pharma Bro” Martin Shkreli.

Shkreli, a convicted fraud, is accused of leaking information about the token’s launch to a select group of people who then got early access to the token. The result was that they were able to dump the token on the market, which hurt ordinary investors.

DJT
DJT Token Drama: Arkham's $150K Bounty Unmasks Creator 11

It all started when Arkham Intelligence put up a $150k bounty for anyone who could prove who created DJT. And then Shkreli, who has a history of controversial behavior, stepped up and claimed to be the co-creator of the token with Barron Trump, the son of the former president. However, since then, Barron Trump hasn’t said anything about his supposed involvement, and the Trump campaign has denied any connections to the token.

DJT Controversy Might Attract SEC’s Scrutiny

Crypto lawyer Preston Byrne expressed frustration and warned that all this chaos might invite scrutiny from regulators, like the SEC, to enter the meme coin space. Amidst the DJT controversy, the crypto enthusiasts signed a heave of relief after the SEC officially closed its investigation into ETH 2.0, marking a significant win for ETH developers, technology providers, and industry participants who were impacted due to the costly litigations.

Consensys has repeatedly voiced its dissatisfaction, slamming the regulator for its inconsistent approach to digital assets. As per the latest reports, the Ethereum firm will continue its fight against the regulator.

Our fight continues. In our lawsuit, we also seek a declaration that offering the user interface software MetaMask Swaps and Staking does not violate the securities laws. It should not take a lawsuit to provide the much-needed regulatory clarity to allow an industry that serves as the backbone to countless new technologies and innovations to thrive – but here we are.

In a related development, Pantera Capital plans to purchase $100 million worth of Ethereum, underscoring the growing institutional interest in the second-largest altcoin.