關於週一可疑轉移超過3520 BTC（3.307億美元）的可疑轉移到隱私硬幣Monero（XMR）有些不符

Monero掩蓋了發件人和收件人的地址以提供不可吸引的貨幣，但交流的流動性有限

On Monday, more than 3,520 BTC (about $330.7 million) were mysteriously moved to privacy coin monero (XMR), probably linked to a hack, according to blockchain sleuth ZachXBT.

根據區塊鏈Sleuth Zachxbt的說法，週一，超過3,520 BTC（約3.307億美元）被神秘地轉移到了隱私硬幣Monero（XMR），可能與黑客相關。

This decision to use an illiquid cryptocurrency is interesting. Usually, one would expect to see the funds move in Tether's USDT or ether (ETH) for a less slippage-prone way of moving the funds about and mixers such as Tornado Cash to help obfuscate the transaction path. Of course, stablecoins like USDT are also easier to intercept and freeze.

使用流動性的加密貨幣的決定很有趣。通常，人們希望看到該資金在Tether的USDT或Ether（ETH）中移動，以不太滑倒的方式移動資金，以及諸如Tornado Cash之類的混音器，以幫助使交易路徑混淆。當然，像USDT這樣的Stablecoins也更容易攔截和凍結。

However, trading data suggests there was more going on than a simple case of someone trying to launder stolen funds.

但是，交易數據表明，發生的事情不僅僅是一個簡單的案例，即有人試圖洗錢的資金。

The possible hacker very likely did encounter slippage during the transaction. Combined market depth, which measures order book liquidity over a given price range, was relatively low at around $1 million per 2% on both sides of the book. As a result of the limited liquidity on exchanges, XRM surged by 45%, which means they could have lost as much as 20% — $66 million — by purchasing XMR rather than a more-liquid token.

可能的黑客很可能在交易期間確實遇到了滑倒。組合的市場深度衡量了在給定價格範圍內的訂單流動性，相對較低，在本書的兩邊每2％左右約100萬美元。由於交流的流動性有限，XRM飆升了45％，這意味著他們可能會通過購買XMR而不是更精美的令牌來損失20％（6600萬美元）。

For a more complete picture, take a look at derivative markets. While monero was surging, open interest — the number of outstanding futures and options contracts — in XMR on the main centralized exchanges more than doubled to $35.1 million, according to blockchain analytics firm Coinalyze.

有關更完整的圖片，請看一下衍生市場。根據區塊鏈分析公司Coinalyze的數據，雖然Monero在激增，但開放式利息（未償還期貨和期權合約的數量）在主要集中式交易所的XMR中增加了一倍以上，達到3510萬美元。

A 45% rise in XMR's price should have boosted open interest only to $24.2 million instead of the figure it ended up at. Taking into account the $1 million in liquidations, someone, or some people, were already long on XMR to the tune of $11 million.

XMR的價格上漲了45％，只能將開放在2420萬美元上提高，而不是最終達到的數字。考慮到100萬美元的清算，某人或某些人已經很長時間XMR到1100萬美元。

While the price increase on that holding wouldn't have compensated for the full amount of slippage, it would help soften the blow. Moreover the figure doesn't take into account any positions that might have existed in decentralized exchanges, and let's not forget the funds were probably stolen in the first place, so the (assumed) perpetrators are still a couple of million dollars ahead.

儘管該持有的價格上漲並不能彌補全部滑倒，但這將有助於減輕打擊。此外，該數字沒有考慮到分散交易所中可能存在的任何職位，讓我們不要忘記這些資金可能首先被盜了，因此（假定的）肇事者仍然是前面的幾百萬美元。

This is not the first time bad actors have flooded spot purchases to move the derivative needle. Last month a trader manipulated JELLY prices on decentralized exchange HyperLiquid. They bought JELLY on illiquid exchanges, tricking the pricing oracle to feed an inaccurate price to HyperLiquid and thus generating profit for holders of long positions.

這並不是第一次不好的演員淹沒現場購買以移動衍生針頭。上個月，一位交易者操縱了分散的交易過度液體的果凍價格。他們通過流動性交易所購買了果凍，欺騙了定價甲骨文，以將價格不准確地餵給超流動性，從而為長位持有人帶來了利潤。

Both cases draw similarities to the $114 million exploit on Mango Markets in 2022, which involved a trader named Avi Eisenberg manipulating MNGO prices by borrowing assets using ill-gotten gains as collateral. Eisenberg was found guilty by a jury in 2024 and faces 20 years in prison.

這兩種案件都與2022年在芒果市場上的1.14億美元（1.14億美元）相似，這涉及一位名為Avi Eisenberg的交易員通過使用不誠實的收益作為抵押品借入資產來操縱MNGO價格。艾森伯格（Eisenberg）在2024年被陪審團裁定有罪，面臨20年監禁。