Prominent crypto investigator ZachXBT exposes a $330 million Bitcoin theft that triggered a Monero price explosion after laundering attempts.

A massive Bitcoin (BTC) theft worth approximately $330.7 million has been uncovered by prominent on-chain investigator ZachXBT, triggering a dramatic price surge in privacy coin Monero (XMR).

In a bombshell revelation shared on X, ZachXBT reported that a “suspicious” transfer of around 3,520 BTC took place on Sunday, moving funds from what appears to be a victim’s wallet to the address “bc1qcry…vz55g.” The investigator believes this transaction bears all the hallmarks of a significant theft event.

What happened next sent shockwaves through the privacy coin market. Shortly after the initial transfer, the stolen Bitcoin was rapidly laundered through more than six different cryptocurrency exchanges and converted to Monero – a privacy-focused cryptocurrency designed to obscure transaction details.

“The perpetrators clearly attempted to cover their tracks by converting the stolen BTC to XMR, leveraging Monero’s privacy features to make the funds virtually untraceable,” ZachXBT explained in his analysis.

The massive laundering operation triggered an immediate and dramatic 50% spike in Monero’s price, primarily due to the sheer size of the swaps combined with relatively thin liquidity on the platforms involved. XMR jumped an impressive 35% in just 24 hours, trading at $308.5 at the time of reporting.

Market commentators say the hack illustrates both the weak defenses of large Bitcoin coffers and the enduring appeal of privacy coins such as Monero for criminal transactions. The dramatic price action also demonstrates how even large-cap cryptocurrencies can experience significant volatility when subjected to sudden, large-scale buy pressure.

Law enforcement agencies and exchange security teams are reportedly collaborating with ZachXBT’s investigation, though the chances of recovering the stolen funds remain unclear once converted to Monero’s privacy-enhanced blockchain.

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Bitcoin is trading marginally lower following the news, with traders closely watching for any additional fallout from what appears to be one of the largest crypto thefts of 2025.