本週一，加密世界因可疑的3,520 BTC的可疑轉移而震驚，價值約3.3億美元。

XMR令牌是一種以隱私為中心的硬幣，經常用於非法交易中。區塊鏈研究者ZachXBT提出，這種大規模轉移可能與最近的Monero Hack有關。

This Monday, the crypto world was stunned by a suspicious transfer of over 3,520 BTC, valued at around $330.7 million. The XMR token, known for its privacy features and frequent use in illicit transactions, was the subject of this massive transfer that had experts baffled.

本週一，加密世界因可疑的3,520 BTC的可疑轉移而震驚，價值約3.3億美元。 XMR代幣以其隱私特徵和在非法交易中的頻繁使用而聞名，是這種大規模轉讓的主題，使專家感到困惑。

Among those following the case was ZachXBT, a renowned blockchain investigator who suggested a link to a recent Monero hack. But what really had experts talking wasn’t just the size of the transaction or its suspicious nature. It was the unusual route chosen to launder such a huge sum. It seems this wasn’t just a heist; it was a case of calculated market manipulation on a grand scale.

在此案之後，Zachxbt是著名的區塊鏈調查員Zachxbt，他建議與最近的Monero Hack有聯繫。但是，真正有專家說話的不僅僅是交易的規模或可疑性質。這是為洗錢而選擇的不尋常路線。看來這不僅僅是搶劫。這是一個大規模計算的市場操作的情況。

Why Choose XMR Token for Laundering?

為什麼選擇XMR令牌進行洗滌？

The use of the XMR token for such a large transfer is surprising. Typically, hackers prefer stablecoins like USDT or ETH, which are more liquid and easier to convert. But Monero, with its privacy features, hides both the sender and receiver, making tracing nearly impossible. However, its low liquidity can cause significant slippage, increasing the risk for anyone moving such a large amount.

將XMR令牌用於如此大的傳輸是令人驚訝的。通常，黑客更喜歡USDT或ETH等穩定的穩態，它們更液體，更易於轉化。但是Monero憑藉其隱私功能掩蓋了發件人和接收器，使追踪幾乎不可能。但是，其低流動性可能會引起嚴重的滑倒，從而增加了移動如此大量的任何人的風險。

But this crypto hacker went all-in, suggesting a high-risk, high-reward strategy. The trade-off was obvious: anonymity over efficiency.

但是這個加密黑客全力以赴，提出了高風險，高級獎勵的策略。權衡很明顯：匿名性效率。

A hacker went full degen when laundering $330M through pumping and dumping XMR while trying to trade it out of the chain using derivatives.

一名黑客在通過抽水和傾倒XMR洗錢時，在嘗試使用衍生物將其從鏈中交易的同時，全力以赴。

This might be the worst idea ever (for the hacker). The Monero liquidity is so low that even with small buys the price went up massively. pic.twitter.com/ZWVT2TclhU

這可能是有史以來最糟糕的想法（對於黑客來說）。 Monero的流動性如此之低，即使有少量購買價格，價格也大幅上漲。 pic.twitter.com/zwvt2tclhu

— Zacharias Close (@ZachXBT) August 28, 2024

- Zacharias Close（@zachxbt）2024年8月28日

Derivative Markets Were Also in Play

衍生市場也在發揮作用

Interestingly, this wasn’t just about hiding tracks. The transfer coincided with abnormal activity in crypto derivatives markets, which is where the real twist lies.

有趣的是，這不僅僅是隱藏曲目。轉移與加密衍生品市場中的異常活動相吻合，這是真正的扭曲所在的地方。

According to DeepCoin's analysis, the attacker may have pumped the XMR price by initiating spot purchases, which were then used to profit from long positions in derivatives. This method closely resembles previous attempts at crypto price manipulation seen with smaller tokens like JELLY and even alludes to the notorious Mango Markets exploit of 2022. It seems the Monero hack wasn’t just about an attempt at concealment but rather about gaming the system at multiple levels.

根據DeepCoin的分析，攻擊者可能通過啟動現貨購買來降低XMR價格，然後將其用於從衍生品長位上獲利。這種方法與以前的加密價格操縱的嘗試緊密相似，諸如果凍這樣的較小令牌，甚至暗示了臭名昭著的芒果市場利用2022年。似乎Monero Hack不僅僅是隱藏的嘗試，而是在多個級別上游戲。

A Familiar Playbook of Crypto Manipulation

一本熟悉的加密操縱劇本

The techniques used by this crypto hacker align with a playbook that's becoming all too familiar in decentralized finance (DeFi). The concept is simple: manipulate the price of an illiquid asset to profit from positions in more liquid derivative markets.

該加密黑客使用的技術與一本劇本一致，該劇本在分散的金融中變得太熟悉了（DEFI）。這個概念很簡單：操縱流動性不足的資產的價格以從更多液體衍生品市場的位置中獲利。

This strategy was previously employed with the token JELLY on HyperLiquid and formed a central part of the $114 million Mango Markets hack, which led to the conviction of Avi Eisenberg in 2024. In both instances, illiquid assets were targeted, and false pricing was used to generate massive profits. This new case involving the XMR token seems to fit seamlessly into that same category.

該策略以前是在超級液體上的代幣果凍中採用的，並構成了1.14億美元的芒果市場黑客攻擊的中心部分，這導致了2024年對Avi Eisenberg的定罪。在這兩種情況下，針對非流動性資產，並使用虛假的資產來產生大量利潤。這個涉及XMR令牌的新案例似乎無縫地與同一類別無縫。

Slippage and Risk in Monero Trading

Monero交易的滑倒和風險

Using Monero in this way is a bold move due to its limited liquidity. Exchanges don't offer deep Monero markets, so moving large amounts can result in price changes before trades are completed, a risk known as slippage. The XMR price can spike or crash with minimal trading volume.

由於其流動性有限，以這種方式使用Monero是一個大膽的舉動。交易所不提供深層市場，因此移動大量可能會導致交易完成之前的價格變化，這是一種稱為滑移的風險。 XMR價格可能會隨著最少的交易量而飆升或崩潰。

This volatile nature makes laundering $330 million especially risky, yet the hacker may have relied on this very instability to create pricing pressure in the derivatives market. The result? A well-timed, albeit suspicious, opportunity to profit from synthetic trading.

這種動蕩的性質使洗錢特別有3.3億美元，但黑客可能依靠這種非常不穩定的能力來在衍生品市場上產生定價壓力。結果？一個定時的，雖然可疑的，但有機會從合成交易中獲利。

Lesson After Monero Hack

Monero hack又一堂課

The future of the XMR token remains uncertain. While Monero’s privacy makes it attractive for legitimate privacy advocates, its frequent association with cybercrime and laundering cases like this could bring regulatory pressure.

XMR令牌的未來仍然不確定。儘管Monero的隱私使其對合法的隱私擁護者有吸引力，但其與網絡犯罪和這樣的洗錢案件的經常關聯可能會帶來監管壓力。

The Monero hack case is a clear example of how privacy coins can be exploited when used creatively by a crypto hacker. Whether it’s the XMR price manipulation or the growing number of similar schemes, it’s clear that blockchain transparency is being tested. The balance between privacy and regulation might soon tip, and Monero could be at the centre of that shift.

Monero Hack Case是一個明確的例子，說明當Crypto Hacker創造性地使用時，如何利用隱私硬幣。無論是XMR價格操縱還是越來越多的類似方案，都可以顯然正在測試區塊鏈透明度。隱私與監管之間的平衡可能很快就會提小費，而蒙羅（Monero）可能是該轉變的中心。