The 330 million dollar Bitcoin heist led to a 70% increase in XMR.

The blockchain Monero, which is used to conceal transactions, saw its XMR coin increase by over 70% on Monday. It was alleged that the reason for this initially inexplicable increase was the hackers who laundered the stolen Bitcoin worth 330 million.

Blockchain researcher ZachXBT reported that a suspicious transfer of 3,520 BTC was made from a wallet targeted by hackers during the night. These BTC were converted to XMR through more than 6 exchanges that allow instant transactions shortly thereafter.

This time, the hack incident was not associated with North Korea, while it was determined that the victim wallet owner had been a Bitcoin investor for a long time.

Before the transactions, XMR, which was trading at 227 dollars, experienced a rise of 72% by exceeding 390 dollars in a few hours. With a market value of 5.2 billion dollars, XMR ranks as the 24th largest cryptocurrency.

In blockchain networks such as Bitcoin and Ethereum, all transactions that take place on the network can be viewed, allowing for the tracking of transfer activities in wallets. Monero, on the other hand, has a technology that allows wallet addresses and transactions to be hidden. For this reason, it has been preferred by many fraudsters and criminals in various cases. Many government agencies have also forced cryptocurrency exchanges to delist XMR.

Published: April 28, 2025 14:31Last Updated: April 28, 2025 14:32