Monero XMR Price Surges 50% After $330M Bitcoin Theft AllinCrypto May 4, 2025
Monero, a private blockchain network and token that allows users to make secure, private transactions, surged over 50% on April 28, 2025, and maintained its new price peak into early May.
Reasons behind the surge may be due to a crypto theft, according to on-chain investigators and ZachXBT on Crypto Twitter.
The surge saw Monero (XMR) jump from $229 to highs of $317 before falling back under $300. According to investigators, the price jump was triggered by a transfer of 3520 Bitcoin.
XMR price jumps due to Bitcoin heist
Monero surged over 50% on April 28 due to a suspicious transfer of 3520 Bitcoins worth $330.7 million, stolen from an investor’s wallet.
The thief transferred the stolen Bitcoin to over 6 exchanges before swapping to Monero (XMR), causing the token’s price to spike.
Monero’s network allows transactions to be hidden from public view. The network, launched in 2014, was the first blockchain for private transactions in an industry known for public ledgers and exposed transactions.
XMR has been challenged in the past, with some exchanges and nations calling for the token to be banned or excluded from exchanges due to its potential use by bad actors to support money laundering.
According to investigations, the theft was not conducted by North Korea’s Lazarus Group, and a long-time, “og” Bitcoin holder was the victim, and the holder of the $330M BTC could have been socially engineered and exploited.
Privacy blockchain networks are gaining in popularity
Privacy networks gained new attention with Cardano’s Midnight, Hashgraph’s HashSphere, and DeFi network DUSK taking shape in the markets.
Private networks have been desired in the crypto world for years, in an industry known for public transactions being viewable by everybody.
Unlike Monero, HashSphere and Midnight will be permissioned, regulated, private networks for big businesses and institutions who prefer not to have large money transfers made public.
HashSphere will utilize stablecoins to enable private, cross-border transactions for institutions and large investors, while Midnight on Cardano will be ADA’s private layer 2 network for investors looking to make non-public trades.
Due to the robustness of Cardano, Midnight may also be utilized by institutions. Dusk Network is a privacy-first network for institutions and businesses looking to bring real-world assets on-chain or make global transactions privately.
The post Monero XMR Price Surges 50% After $330M Bitcoin Theft first appeared on AllinCrypto.
