CMC News

$XMR Price Surges 50% Following $330 Million $BTC Theft and Laundering Scheme

A suspicious Bitcoin transaction on April 28, 2025, flagged by ZachXBT, has been linked to a 50% surge in the price of Monero ($XMR). The transaction involved 3,520 $BTC, worth approximately $330 million, which was moved to an address and laundered through multiple exchanges. The funds were primarily converted into Monero, causing the price of $XMR to rise from $228 to a peak of $347 before settling at $289.

The sudden price jump initially raised speculation that it was connected to technological advancements or increased adoption of Monero. However, as details emerged about the laundering operation, it became clear that the surge was more likely linked to the movement of stolen $BTC. ZachXBT stated that the stolen funds were likely from a well-known Bitcoin investor, but dismissed the involvement of North Korea’s Lazarus Group.

Chainalysis weighed in on the matter, pointing out that most criminal activity still relies on mainstream cryptocurrencies like $BTC and $ETH, rather than privacy coins like Monero. They highlighted the challenges criminals face with privacy coins, including limited liquidity and fewer exchanges supporting them.

In a separate development, Monero has made some retail strides, with two Spar supermarket locations in Switzerland now accepting $XMR for payments. This move adds to Monero’s growing use case, though privacy coins still face obstacles in broader adoption.