Monero Soars After Alleged Mega-Hack—Because Crypto Loves Chaos

Privacy coin Monero (XMR) just ripped double-digits overnight—and blockchain sleuth ZachXBT says a nine-figure hack might be the fuel. Because nothing pumps a coin like someone else’s misfortune.

The ’Oops, All Profits’ Rally

On-chain trails suggest stolen funds are being laundered through XMR’s famously opaque ledger. Traders, ever the opportunists, piled in as liquidity tightened—classic ’supply shock’ meets ’morally flexible’ market psychology.

Wall Street Would Blush (If It Understood)

Meanwhile, institutional investors still can’t decide if privacy coins are the future or a compliance nightmare. Today’s price action? A cheeky reminder that crypto markets dance to their own rogue algorithm—one part tech, two parts adrenaline, zero f
ks given.

Market data shows a spike in volatility coming from an excess in buy orders for the XMR-BTC order book.

Market observers initially had a hard time determining what caused the major spike as metrics such as active wallets and network activity hadn’t risen accordingly.

Liquidity for XMR has been limited during the past few months as major exchanges delisted the privacy token in a bid to fight dark net markets. The lack of liquidity would have made any sizeable buy a catalyst for outsized pricing gains. CoinGecko data shows that the order depth for XMR is significantly smaller than for tokens of similar market cap.

XMR is trading for over $300 according to CoinDesk markets data.