Monero jumps 51% after ‘suspect transfer’ of $ 333 million in Bitcoin

Privacy blockchain Minero (XMR) jumped on Monday with 51%and researchers at the chain on hackers who have $ 330 million money laundering in stolen bitcoin Like the likely perpetrator.

Early on Monday, at the Speur Chain Zachxbt emphasized a “suspicious transfer” made of a “potential victim” of 3,520 BTC (worth around $ 333 million). Shortly thereafter, the funds were exchanged to XMR via several fairs. ZAchxbt believes that this was “theft” because of the high costs paid and the suspicious activity as soon as the funds had been moved.

The researcher later added that it is “very likely“The attack does not come from North Korea and that the victim was one Bitcoin Holder for a long time.

In response, XMR 51% jumped to a price of $ 347.72 in seven hours before he withdrew. At the time of publication, Monero costs $ 264.18, an increase of 15.3% in the day, according to Coingecko.

Monero and Privacy

Monero is the largest privacy point with a market capitalization of $ 5.3 trillion, Ranking as the 27th largest cryptocurrency through market capitalization.

Where ordinary block chains, such as Bitcoin And EthereumBe users to view every transaction that has happened on the network – following funds via wallets – Moonero uses a variety of technologies to cover up wallet addresses and transactions. As a result, it has become a popular network for malignant actors to hide their tracks.

In 2020, the IRS offered $ 625,000 to companies that want to “crack” the privacy of Monero, and then deals ink with blockchain tracing company chain analysis and data forensics analysis company Integra Fec.

There have been cases that criminal minero users are convicted, despite the strict privacy of the network.

Last summer the British Dark Web Drug Drug dealer Jack Edward Finney was convicted and his Monero -Tokens seized. However, the seizure was not due to the police who cracked the network, but because Finney transferred the funds to the researcher as part of a Confiscation order. British officials later sold the tokens in what was described by officers as the First UK Monero Cryptocurrency Payout.

In January 2024 it was reported by Local Finnish media That Finland’s National Bureau of Investigation (KRP) had successfully followed transcations with the help of Monero. However, a former member of the Magic Monero Fund Committee, CSilla Brimer, said Decrypt That this was not the whole truth. Instead, she said, studies were probably able to trace some transcations due to poor operational security of the user.

“If you are not careful with your operational security and you continue to switch between Bitcoin and Monero, you can leak some information,” Brimer told Decrypt. “Regulators can use this slip-up to claim that they can follow Monero.”

“Monero is very solid in monitoring your transaction data, but it cannot save you from slip-ups in your own security habits,” she added.