Monero (XMR) is a privacy-focused cryptocurrency launched in 2014. Known for its open-source and decentralized structure, Monero ensures complete anonymity by concealing transaction details such as sender, receiver, and transaction amount through technologies like ring signatures, stealth addresses, and RingCT.
XMR has recorded an 18.80% increase in the past 24 hours and, at the time of writing, stands among the top gainers of the day.
On-chain investigator ZachXBT reported that approximately $330.7 million worth of 3,520 Bitcoin (BTC) was stolen and quickly converted into privacy-focused Monero (XMR). This rapid conversion, coupled with low liquidity, may have contributed to the sharp rise in XMR’s price.
