Monero Surges 40% After Massive Bitcoin Hack Sparks Liquidity Frenzy

On-chain researcher ZachXBT reported that Monero (XMR) experienced a 40% surge early Monday after approximately 3,520 bitcoin (BTC), valued at around $330.7 million, was hacked and swapped for XMR. Market data revealed a spike in volatility dominated by an excess of buy orders in the XMR-BTC order book, even as typical network metrics such as active wallets and overall activity did not reflect the surge. The limited liquidity in XMR trading—a consequence of major exchanges delisting the token to counter dark net activities—likely amplified the outsized price move. This development has raised concerns over market stability while highlighting the inherent risks associated with digital asset security and liquidity limitations in the crypto space.