On April 28, 2025, a suspicious transaction involving 3,520 Bitcoin (worth $330.7 million) sparked a notable Monero price surge as funds reportedly shifted through exchanges.
This event underscores the role of Monero in concealing large transactions, causing concern about privacy coins being used for illicit activities.
3,520 Bitcoin Move Sparks Monero Price Spike
The suspicious Bitcoin transaction discovered by ZachXBT raised alarms. The 3,520 BTC were allegedly laundered via multiple exchanges, resulting in a major Monero price spike.
“Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M). Theft address bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g. Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike…” – ZachXBT, On-Chain Crypto Investigator
Known for exposing crypto scams, ZachXBT highlighted the transaction’s laundering steps and its impact on Monero prices. This incident underscores the use of privacy coins.
Monero Surges 40% Amid Laundering Concerns
The Monero market saw a dramatic price increase due to the large transaction. Bitcoin also showed positive trends, largely unrelated to this occurrence, due to whale activity.
Market liquidity for Monero increased rapidly amidst concerns of illicit activity. Historical trends show privacy coins often spike with related laundering concerns.
Privacy Coins’ Role in Crypto Laundering Scrutinized
Previous cases of crypto thefts followed by laundering via privacy coins exhibit similar patterns, highlighting Monero’s use for anonymity. Historical examples confirm these trends.
The Kanalcoin expert suggests current trends in privacy coin markets are shaping heightened regulatory scrutiny. This particular case may prompt further investigative actions.
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