Monero (XMR) experienced a significant price increase of 51% on April 28, 2025, following reports of a suspicious transfer involving 3,520 BTC (approximately $333 million), suspected to have been laundered by hackers. On-chain investigator ZachXBT detected the transfer which initiated from a victim's address, leading to the funds being swapped into Monero across multiple exchanges. This surge in activity, combined with high transaction fees, hinted at possible theft. As a result, Monero's price peaked at $347.72 before stabilizing at around $264.18, reflecting a 15.3% increase on the day. Monero, known for its privacy features, has gained attention for being used by malicious actors to obscure transaction histories, distinguishing it from more transparent blockchains like Bitcoin and Ethereum. The IRS has even offered rewards for cracking Monero's encryption, highlighting its prominence as a privacy coin in the cryptocurrency market.

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