Bitcoin Heist: 3,520 BTC Stolen and Laundered Through Monero, Exposing Crypto Security Gaps

• Bitcoin heist sees 3,520 BTC Stolen and Laundered through XMR

• Monero prices soars by 25% in 24 hours pumped by heist

The crypto world was rattled once again after well-known on-chain investigator ZachXBT uncovered a massive Bitcoin heist. Roughly 3,520 Bitcoins — valued at a staggering $330.7 million — were siphoned from a compromised wallet and swiftly shuffled through multiple addresses in an elaborate laundering scheme.

3,520 Bitcoins Stolen

In a carefully executed move, the stolen BTC was quickly routed through over six different instant exchanges, making it increasingly difficult to trace. From there, the hacker swapped the Bitcoin for Monero (XMR) — a privacy-focused cryptocurrency known for its stealth features.

The sudden surge in demand for Monero, which naturally has lower liquidity than Bitcoin, triggered a massive price spike of over 35%, pushing XMR to an intraday high of $308.5. In fact, some data showed XMR peaking as high as $339 before cooling off slightly.

At the time of writing, Monero is still holding strong, up around 25% over the past 24 hours and trading near $289 — a clear ripple effect from the laundering activity.

Who’s Behind the Hack?

Speculation immediately began swirling around possible culprits, particularly North Korea’s Lazarus Group, which has been linked to major crypto hacks in the past. However, ZachXBT quickly shut down those rumors, stating it was "highly probable it's not" the work of Lazarus.

Instead, the methodical approach — combined with the sophisticated use of privacy tools — suggests the job was carried out by independent professional hackers.

A Wake-Up Call for Crypto Markets

This incident is more than just another headline — it’s a vivid reminder of how fragile and reactive the crypto market can be to large-scale criminal activities. Massive thefts like this don't just damage individual wallets; they can cause sudden price spikes, market volatility, and undermine trust across the ecosystem.

As investigations continue, this heist will likely serve as a case study in both how vulnerabilities are exploited — and how laundering strategies are evolving in the age of decentralized finance.