Suspicious BTC transfer leads to XMR price spike of over 50%

A suspicious transfer of 3,520 BTC to a questionable address, valued at around 330.7 million USD, was subsequently exchanged for Monero (XMR), causing a rapid price surge.

The price of XMR jumped over 50%, with a 20% rise within one hour. This incident raises concerns about the illicit uses of privacy coins and their impact on market volatility.