Why Cryptocurrency Monero is 14% today

Cryptocurrency Monero (KSMR 13.74%) Monday morning. From 12:45, ET received 14.5% within 24 hours. Unfortunately, this sudden jump was the result of some unregistered moves obvious that they were involved large Bitcoin (Btc -0.37%) Heist.

Curious case of 3,520 of bitcoin

Monero started a quick price on Sunday evening, and the market observers remained more questions than in the beginning of the answer. Price gains did not match the usual catalysts such as a large number of new carriers new monero, a Meme Coin Push on Social Mediaor monetary analysis in traditional large media, such as TV channels and newspapers.

The mystery ended when the well-known CRIPTO Security Account ZachkBT found some suspicious transactions to Bitcoin and Monero block. One account was transferred to 3,520 Bitcoin in the second, which moves about $ 330 million in crypto funds.

This move could be a normal transmission between two very large Bitcoin holders or one crypto whale simply rearranged the BitCoin balance in a new crypto wallet, but the next step has been brought to this innocent theory. The funds were immediately transferred to six different monerosk accounts. No one knows what happened after that, because Monero is designed to hide the identity of each order and transaction.

In other words, someone seems to have stolen 3,520 Bitcoin and used Monero to make funds to be able to search for funds after that first contact. This could be money laundering on a massive extent.

This privacy enhancement tool is too easily misused

There is a significant slope so that this big bitcoin balance could be transferred through MONERO Channel. It is usually a light traded cryptocurrency. The 24 hour trading volume was stopped at $ 67 million on Saturday, 26. April. Pushing 300 million dollars through this light money transfer system, almost certainly will certainly result in much higher cash in color, making transactions more expensive.

This effect of money combustion also supports the idea that someone is good here. Why accept 15% extra charge on your privacy store? The funds obviously had to move quickly.

I used to like Monero for his top Privacy Protection Functions. Things have changed. Events like this, plus widespread use of MONERO in cryptological attacks of computer viruses, they changed your mind over time. What used to look like a privacy agent actually acts more useful bad actors who want to cover their alleged songs in Krupto’s stealing. I do not recommend the construction of the investment portfolio around this type of weight building.