By Key Points
- Monero (XMR) jumped 40% following a $330 million laundering operation.
- Trading volume for XMR surged by 360%, hitting a 2025 record.
- Analysts predict stronger demand for privacy coins like Monero.
- Concerns grow over XMR’s ties to financial crimes and Dark Web usage.
Monero (XMR) shocked the crypto world today after its price soared 40% within hours, following a reported $330 million money laundering operation that converted thousands of stolen Bitcoin into XMR. The sudden Monero price surge highlights the ongoing demand for privacy-centric cryptocurrencies in a market where anonymity is becoming more valuable — and more controversial.
Popular on-chain investigator ZachXBT posted on X (formerly Twitter) that 3,520 BTC, valued at over $330 million, was rapidly swapped for XMR through more than six instant exchanges. He explained that nine hours prior, a suspicious transfer from an unknown wallet occurred, triggering this significant laundering activity.
Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)
Theft address
bc1qcrypchnrdx87jnal5e5m849fw460t4gk7vz55gShortly after the funds began to be laundered via 6+ instant exchanges and was swapped for XMR causing the XMR price to spike…
— ZachXBT (@zachxbt) April 28, 2025
“Nine hours ago a suspicious transfer was made from a potential victim for 3520 BTC ($330.7M)… Shortly after, the funds began to be laundered via 6+ instant exchanges and were swapped for XMR, causing the XMR price to spike 50%,” ZachXBT wrote.
While speculation about potential involvement by North Korea was raised by Polygon’s Community Lead Smokey, ZachXBT dismissed that theory as unlikely. Still, the identity behind the stolen Bitcoin remains a mystery.
Following the news, Monero’s price jumped from $229 to a peak of $317, before settling around $270. Some exchanges like Bitfinex reported intraday highs of $328. Trading volume for XMR exploded, reaching over $250 million — a 360% increase — marking a 2025 daily record, according to CoinMarketCap.
Monero (XMR) Price Performance. Source: Techtoken
These developments once again underline Monero’s resilience and its unique positioning as the go-to coin for privacy seekers and illicit activities alike.
Related: Bitcoin Whale Accumulation Hits New Highs in 2025
Privacy Coins Like Monero Gain Strength Amid Market Changes
While Bitcoin remains king of the crypto world, privacy coins like Monero are quietly carving out a loyal user base. Data from Artemis, a leading crypto analytics platform, shows that privacy tokens have been one of the few sectors to post positive growth in 2025, gaining over 17% so far this year.
Monero’s strong privacy features — masking sender, receiver, and transaction amount — make it a preferred choice for individuals valuing anonymity. However, these same features also make it a favorite for criminals, as noted in Chainalysis’ 2025 Crypto Crime Report. As law enforcement agencies get better at tracking Bitcoin, more illicit actors are switching to Monero.
Crypto Market’s Sector Performance. Source: Artemis. – Techtoken
ScienceDirect’s recent research also confirms this trend, showing that privacy coins are heavily linked to Dark Web traffic, increasing their popularity among black-market users.
Adding to Monero’s appeal is its remarkable market performance resilience. A study by Swan revealed that Monero has shown the longest-running downward resistance among the top 300 altcoins, meaning it holds value better during bear markets than most other cryptocurrencies.
CR1337, a Core Team member at Navio, a privacy-focused DeFi project, noted, “Whatever the reason for XMR’s recent price rise, it doesn’t really matter. It’s guaranteed to make more people aware of the privacy coin #1.”
This surge in Monero interest comes at a time when global regulations around cryptocurrencies are tightening. As seen in the recent Bitcoin and Ethereum options expiry, market volatility has increased, pushing investors toward more defensive assets like privacy coins.
Whatever the reason for XMR’s recent price rise, it doesn’t really matter.
It’s guaranteed to make more people aware of the privacy coin #1
Also, I don’t see how the crypto media, which rarely reports on Monero, could ignore this event.
— CR1337 (@cryptonator1337) April 28, 2025
Broader Crypto Market Shows Mixed Reactions Amid Monero Rally
While Monero’s rally grabbed headlines, the broader cryptocurrency market presented a mixed picture. Bitcoin remained volatile, partially due to the ongoing whale accumulation trend. However, altcoins have faced more pressure, especially after events like the $7 million Loopscale and Term Finance hack.
Meanwhile, positive news out of El Salvador — with their government’s strong Bitcoin holdings update — helped stabilize broader market sentiment to some extent.
Analysts note that Monero’s surge is unique because it ties into a longer-term shift toward privacy assets, not just a temporary reaction to external events. In contrast, other projects are still trying to recover from recent setbacks and regulatory threats.
Industry insiders are also closely watching major discussions, such as the WLFi and Binance meeting, which could shape the next phase of DeFi and centralized exchange relationships in 2025.
Overall, the Monero price surge reflects not just a demand for privacy, but a growing awareness that the future of crypto may look very different depending on how governments, hackers, and users interact in this evolving space.
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