- Bitcoin hack spurs Monero price surge on April 28, 2025.
- ZachXBT identifies laundering of $330.7 million in BTC.
- Monero’s price jumped by 40-50% post-hack incident.
The Bitcoin theft’s laundering via Monero highlights the cryptocurrency’s use in obscuring transactions, impacting Monero’s valuation and market dynamics.
Bitcoin Heist and Its Ripple Effects
Initially, $330.7 million in Bitcoin was stolen and laundered through Monero, leading to a sharp price increase. The activity drew attention by mid-2025, with Monero becoming central to laundering activities. Observers noted that 3,520 BTC were swiftly moved between addresses.
ZachXBT played a key role in identifying the transaction as hacking evidence. In response, Monero’s price surged due to its use in concealing transaction details, further drawing scrutiny from communities and fueling further investigation.
“The funds began to be laundered via 6+ instant exchanges and were swapped for XMR, causing the XMR price to spike 50%” – ZachXBT
Monero’s trading volume surpassed $250 million, reaching new record highs. This sudden spike demonstrated the cryptocurrency’s volatility and vulnerability, highlighting its potential use in money laundering and speculative trading. The market witnessed a 360% volume increase.
Trading Volumes and Market Implications
Financial implications include Monero’s rising prominence in illicit trade and Bitcoin’s resilient market performance. Although Monero’s use in privacy-focused activities is highlighted, Bitcoin maintained stability, trading around $94,000 during the incident.
Despite the hack’s disruptive impact on Bitcoin, Monero emerged as a crucial tool for obscuring funds. The event emphasized regulatory challenges, with potential shifts toward stricter controls as authorities scrutinize privacy coins and illicit activity management, affecting monetary policies and regulatory tech advancements.
