ZachXBT flags suspicious $330M Bitcoin transfer triggering Monero surge

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Onchain sleuth ZachXBT has flagged a suspicious transfer involving 3,520 Bitcoin (BTC) (valued at $330.7 million) that may indicate a major theft. The transaction, reported on April 28, saw funds moved from a potential victim’s wallet to the address bc1qcry…vz55g.

Following the transfer, the stolen stash was quickly laundered through over six instant exchanges and swapped into privacy-focused cryptocurrency Monero (XMR).

The large-scale conversion led to a sharp 50% spike in XMR’s price, with the token reaching an intraday high of $339, according…



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ZachXBT flags suspicious $330M Bitcoin transfer triggering Monero surge


Onchain sleuth ZachXBT has flagged a suspicious transfer involving 3,520 Bitcoin (BTC) (valued at $330.7 million) that may indicate a major theft. The transaction, reported on April 28, saw funds moved from a potential victim’s wallet to the address bc1qcry…vz55g.

Following the transfer, the stolen stash was quickly laundered through over six instant exchanges and swapped into privacy-focused cryptocurrency Monero (XMR).

The large-scale conversion led to a sharp 50% spike in XMR’s price, with the token reaching an intraday high of $339, according…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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