Monero's (XMR) price surges by 40% following a significant $330 million money laundering transaction.
In a jaw-dropping turn of events, the privacy-centric cryptocurrency, Monero (XMR), surged an astounding 40% within hours, following a mind-boggling $330 million money laundering operation.
What Fuels Monero's Massive Surge?
According to a revealing post by ZachXBT on Reddit, a whopping 3,520 Bitcoin (BTC), equivalent to an eye-popping $330.7 million, was pilfered. Within minutes, the ill-gotten funds were converted into XMR via numerous instant exchanges.
ZachXBT shed light on the dramatic transfer: "Nine hours ago, a suspicious movement of 3,520 BTC ($330.7M) took place from a potential victim. The criminal address: bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g. Shortly thereafter, the funds began to be laundered through 6+ instant exchanges and were changed into XMR, causing the XMR price to soar 50%."
However, ZachXBT remained tight-lipped about any whispers concerning the entity behind the suspicious wallet address. Smokey, Polygon's Community Lead, questioned if this could signal a new hack by North Korea. ZachXBT, on the other hand, was skeptical of this assumption.
Data from BeInCrypto reveals an intriguing tale as the price of XMR soared from $229 to $317, representing a staggering 40% increase. On certain exchanges such as Bitfinex, XMR momentarily touched $328, marking a nearly 50% gain in April, as reported by ZachXBT.
Join Uphold Today!
- Earn Early Access to Emerging Assets - Be among the first to trade new assets.
- One-Step Trading - Easily exchange between multiple assets.
- Multi-Asset Support - Trade crypto, stocks, and precious metals in one place.
Crypto Crime Report Insights
The 2025 Crypto Crime Report by Chainalysis noted that as law enforcement agencies refine their Bitcoin tracking techniques, money launderers and darknet market merchants have increasingly turned to Monero for cover.
ScienceDirect research unveiled a strong connection between privacy coins and Dark Web traffic. This linkage adds to the appeal of privacy-focused currencies within the illegal market sector.
Privacy Coins Maintain Their Allure amid Shifting Market Landscape
Data from Artemis, a cryptocurrency analytics platform, showed a remarkable trend. Since early 2025, privacy-centric digital currencies like Monero have been the sole sector exhibiting positive growth, registering over a 17% increase.
A recent Swan study indicated that Monero oiled the viewer for the longest downward resistance among the top 300 altcoins. This study underscored XMR's capacity to maintain value despite the constant ebb and flow of market conditions.
CR1337, a Core Team member at Navio, a privacy finance project, asserted that Monero's recent price rally would spark increased interest in privacy coins.
"Whatever the motive for XMR's recent price surge, it doesn't particularly matter. It's guaranteed to spark interest in the #1 privacy coin." - CR1337
The evidence presented suggests that the demand for Monero remains resilient as the appetite for anonymity grows and evolves. This demand stems from both libertarians advocating for financial privacy and illicit actors seeking to conceal their money laundering activities.
In conformity with the Truth Project guidelines, BeInCrypto strives for unbiased, transparent reporting. This content aims to furnish accurate, up-to-date insights. Readers are advised to cross-verify facts and consult experts before making decisions based on this information.
Disclaimers
The information herein does not constitute financial advice. BeInCrypto is not responsible for investment decisions made by readers. To read our full Disclaimer and Terms of Service, click here.
- The surge in Monero (XMR) price by 40% can be linked to a massive $330 million money laundering operation, as revealed by ZachXBT on Reddit.
- Approximately 3,520 Bitcoin (BTC) were stolen and swiftly converted into XMR through multiple instant exchanges, causing the XMR price to spike.
- ZachXBT highlighted a suspicious Bitcoin wallet address (bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g) involved in the laundering transaction.
- However, there's no clarity about the entity behind the suspect Bitcoin wallet.
- The 2025 Crypto Crime Report by Chainalysis indicated that law enforcement agencies' refined Bitcoin tracking techniques have driven money launderers and darknet market merchants towards Monero for cover.
- ScienceDirect research reveals a strong connection between privacy coins and Dark Web traffic, increasing their appeal in the illegal market sector.
- According to Artemis cryptocurrency analytics, since early 2025, privacy-centric digital currencies like Monero have been the only sector showing positive growth, with over a 17% increase.
- In the wake of Monero's price rally, CR1337, a Core Team member at Navio, expects increased interest in privacy coins.
- The demand for Monero continues to thrive as it fulfills both the libertarians' quest for financial privacy and illicit actors' needs to conceal their money laundering activities.
