Share this article
Monero Price Surge Likely Attributable to Large Hack: ZachXBT
XMR spiked nearly 40% early Monday following a 'suspicious transfer,' the on-chain researcher said.
Updated Apr 28, 2025, 2:47 p.m. Published Apr 28, 2025, 8:56 a.m.
What to know:
- A suspicious transfer of 3,520 BTC, valued at $330.7 million, was swapped for monero (XMR), on-chain researcher ZachXBT said.
- The resulting monero price surge was linked to laundering activities through multiple instant exchanges.
- Limited liquidity due to exchange delistings amplified the price impact of large XMR purchases.
On-chain researcher ZachXBT may have determined why privacy coin Monero (XMR) surged as much as 40% early Monday: Someone probably got hacked.
Loading...
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
ZachXBT reported that 3,520 bitcoin (BTC) ($330.7 million) was drained from an address and then swapped for XMR.
Market data shows a spike in volatility coming from an excess in buy orders for the XMR-BTC order book.
Market observers initially had a hard time determining what caused the major spike as metrics such as active wallets and network activity hadn't risen accordingly.
Read More: Monero’s XMR Rockets 40% as XRP Leads Crypto Majors Gains
Liquidity for XMR has been limited during the past few months as major exchanges delisted the privacy token in a bid to fight dark net markets. The lack of liquidity would have made any sizeable buy a catalyst for outsized pricing gains. CoinGecko data shows that the order depth for XMR is significantly smaller than for tokens of similar market cap.
XMR is trading for over $300 according to CoinDesk markets data.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin’s Long-Term Holders Hit Cyclical Low as Sell Pressure Finally Eases
Long-term holder supply bottomed when bitcoin sank to $80K, signaling that the wave of spot-driven selling may be nearing exhaustion as prices rebound to $90K.
What to know:
- Long-term holder supply fell to 14.33M BTC in November, its lowest level since March, coinciding with bitcoin’s $80K correction low.
- The rebound to $90K suggests the bulk of spot-driven selling from seasoned holders has passed after a 36% peak-to-trough decline.
- Unlike prior cycles, LTH behavior in 2025 shows more measured distribution rather than blow-off-top capitulation, signaling a shift in market structure.
Top Stories
