{"id":23478,"date":"2025-04-28T15:24:24","date_gmt":"2025-04-28T12:24:24","guid":{"rendered":"https:\/\/forklog.com\/en\/alleged-bitcoin-theft-of-330-million-boosts-monero-price\/"},"modified":"2025-04-28T15:24:24","modified_gmt":"2025-04-28T12:24:24","slug":"alleged-bitcoin-theft-of-330-million-boosts-monero-price","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/alleged-bitcoin-theft-of-330-million-boosts-monero-price\/","title":{"rendered":"Alleged Bitcoin Theft of $330 Million Boosts Monero Price"},"content":{"rendered":"<p>On-chain investigator ZachXBT highlighted a &#8220;suspicious&#8221; transfer of 3520 BTC ($330.7 million), which is highly likely to be a theft of assets.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)<\/p>\n<p>Theft address<br \/>bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g<\/p>\n<p>Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike\u2026<\/p>\n<p>\u2014 ZachXBT (@zachxbt) <a href=\"https:\/\/twitter.com\/zachxbt\/status\/1916756932763046273?ref_src=twsrc%5Etfw\">April 28, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Shortly after, the funds began to be laundered through instant exchanges on more than six platforms and converted into Monero, resulting in the XMR price spiking by 50%,&#8221; the expert noted.<\/p>\n<\/blockquote>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">May 1, 2025 | 15:02<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>ZachXBT confirmed that the incident was indeed a theft of assets. According to him, the user\u2014an elderly person from the US\u2014fell victim to social engineering.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\">\n<p lang=\"en\" dir=\"ltr\">Update: It is confirmed to be a social engineering theft from an elderly individual in the US.<\/p>\n<p>\u2014 ZachXBT (@zachxbt) <a href=\"https:\/\/twitter.com\/zachxbt\/status\/1917535854085497185?ref_src=twsrc%5Etfw\">April 30, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<p>During the brief rally, the price of the privacy-focused cryptocurrency reached $329. At the time of writing, the quotes had corrected to $267. Over the past day, the growth amounted to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/monero\">about 20%<\/a>.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"620\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/XMRUSD_2025-04-28_14-29-31-1024x620.png\" alt=\"XMRUSD_2025-04-28_14-29-31\" class=\"wp-image-257706\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/XMRUSD_2025-04-28_14-29-31-1024x620.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/XMRUSD_2025-04-28_14-29-31-300x182.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/XMRUSD_2025-04-28_14-29-31-768x465.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/XMRUSD_2025-04-28_14-29-31.png 1327w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">15-minute XMR\/USD chart on Kraken exchange. Data: <a href=\"https:\/\/www.tradingview.com\/symbols\/XMRUSD\/?exchange=KRAKEN\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>ZachXBT explained the signs that led him to suspect theft:<\/p>\n<ul class=\"wp-block-list\">\n<li>The likely victim is a long-term Bitcoin holder and an experienced user who interacted with Gemini, River, Coinbase, and other platforms;<\/li>\n<li>Coins worth $330 million were suddenly broken into many small amounts with the creation of hundreds of orders;<\/li>\n<li>Fees spent on transactions reached &#8220;seven figures,&#8221; which is clearly unprofitable for regular operations.<\/li>\n<\/ul>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">that\u2019s how you know it\u2019s likely a theft <\/p>\n<p>>longtime Bitcoin holder<br \/>>is a Gemini, River, Coinbase, etc user<br \/>>$330M suddenly moved today and transferred in small increments to instant exchanges, creating hundreds of orders<br \/>>gonna lose multiple 7 figs to fees \/ inefficient for\u2026<\/p>\n<p>\u2014 ZachXBT (@zachxbt) <a href=\"https:\/\/twitter.com\/zachxbt\/status\/1916773996202541495?ref_src=twsrc%5Etfw\">April 28, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The fees for atomic swaps used by the alleged perpetrator ranged from 1-3% of the exchange amount. <\/p>\n<p>Amid the sharp rise in Monero&#8217;s price, other &#8220;anonymous&#8221; coins like <a href=\"https:\/\/www.coingecko.com\/en\/coins\/zcash\">ZCash<\/a> (~12% in a day) and <a href=\"https:\/\/www.coingecko.com\/en\/coins\/dash\">Dash<\/a> (~11%) also saw price increases.<\/p>\n<p>In 2024, Japanese police arrested suspects in credit card fraud thanks to <a href=\"https:\/\/forklog.com\/en\/news\/japanese-authorities-uncover-fraudster-through-monero-transaction-analysis\">analyzing their transactions<\/a> in Monero. Prior to that, the National Bureau of Investigation of Finland <a href=\"https:\/\/forklog.com\/en\/news\/japanese-authorities-uncover-fraudster-through-monero-transaction-analysis\">managed to trace<\/a> XMR linked to a hacker. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>On-chain investigator ZachXBT highlighted a &#8220;suspicious&#8221; transfer of 3520 BTC ($330.7 million), which is highly likely to be a theft of assets. Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M) Theft addressbc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55g Shortly after the funds began to be laundered via 6+ instant exchanges and was swapped [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":23477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[44,513],"class_list":["post-23478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cybercrime","tag-monero"],"aioseo_notices":[],"amp_enabled":true,"views":"39","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=23478"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/23478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/23477"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=23478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=23478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=23478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}