Monero (XMR) prices rocket 33% to $438 amid $120 million onchain laundering maze

Monero (XMR) prices rocket 33% to $438 amid $120 million onchain laundering maze

Onchain investigator ZachXBT traced the funds through Monero, instant swaps and cross-chain bridges, a pattern used to launder money.

$120M in USDT Flows Into Monero, Prompting Tether to Freeze Millions

TL;DR: A wallet on the Tron network received a single transfer of $120.2 million in USDT on June 11. The firm Tether froze an approximate balance of $72 million in USDT that remained in the identified address. An estimated $48 million in USDT was withdrawn and converted before the block was executed on the blockchain. Last Thursday, a financial movement led to the massive purchase of Monero, causing an immediate increase in the market price of …

Monero Spikes as $120 Million Stablecoin Trail Hits Privacy Coin

Why Did Monero Suddenly Rally? Monero jumped sharply this week after a large holder routed about $120 million in stablecoins through a chain of swaps, exchanges, and cross-chain tools, making the movement visible across crypto markets. Onchain investigator ZachXBT said an address received 120.2 million USDT on the Tron network on Thursday. USDT is the largest dollar-pegged stablecoin, while Tron is widely used for low-cost stablecoin transfers. …

Monero Jumps 30% After ZachXBT Traces $120M USDT Laundering Run Through Privacy Coin

Monero surged roughly 30% to an intraday high of $438 late Thursday ET after blockchain investigator ZachXBT traced a $120 million USDT movement that included large purchases of the privacy coin, with Tether subsequently freezing $72 million in connected funds. ZachXBT posted to his Investigations... Read the full story at The Defiant

Tether Freezes $72M USDT After Monero Price Surge

Tether has frozen about $72 million in USDT after a large Tron-based fund movement was linked to aggressive Monero buying and a sharp XMR price spike. The activity began on June 11, when a Tron wallet received 120.2 million USDT and quickly split funds across multiple routes. Onchain investigator ZachXBT tracked more than $12 million moving to KuCoin deposit addresses, about $8 million going through instant exchange services, and another $8 mill…

ZachXBT Traces $120 Million USDT Transfers as Tether Freezes Linked Funds

Summary: ZachXBT traced a $120.2 million USDT transaction trail across the Tron network. Tether froze roughly $72 million after blacklisting […] The post ZachXBT Traces $120 Million USDT Transfers as Tether Freezes Linked Funds appeared first on CoinsPress.