ZachXBT flags suspicious $330M Bitcoin transfer triggering Monero surge

Onchain sleuth ZachXBT has flagged a suspicious transfer involving 3,520 Bitcoin (BTC) (valued at $330.7 million) that may indicate a major theft. The transaction, reported on April 28, saw funds moved from a potential victim’s wallet to the address bc1qcry…vz55g.

Following the transfer, the stolen stash was quickly laundered through over six instant exchanges and swapped into privacy-focused cryptocurrency Monero (XMR).

The large-scale conversion led to a sharp 50% spike in XMR’s price, with the token reaching an intraday high of $339, according…