本周一，加密世界因可疑的3,520 BTC的可疑转移而震惊，价值约3.3亿美元。

XMR令牌是一种以隐私为中心的硬币，经常用于非法交易中。区块链研究者ZachXBT提出，这种大规模转移可能与最近的Monero Hack有关。

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.

本周一，加密世界因可疑的3,520 BTC的可疑转移而震惊，价值约3.3亿美元。 XMR代币以其隐私特征和在非法交易中的频繁使用而闻名，是这种大规模转让的主题，使专家感到困惑。

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.

在此案之后，Zachxbt是著名的区块链调查员Zachxbt，他建议与最近的Monero Hack有联系。但是，真正有专家说话的不仅仅是交易的规模或可疑性质。这是为洗钱而选择的不寻常路线。看来这不仅仅是抢劫。这是一个大规模计算的市场操作的情况。

Why Choose XMR Token for Laundering?

为什么选择XMR令牌进行洗涤？

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.

将XMR令牌用于如此大的传输是令人惊讶的。通常，黑客更喜欢USDT或ETH等稳定的稳态，它们更液体，更易于转化。但是Monero凭借其隐私功能掩盖了发件人和接收器，使追踪几乎不可能。但是，其低流动性可能会引起严重的滑倒，从而增加了移动如此大量的任何人的风险。

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

但是这个加密黑客全力以赴，提出了高风险，高级奖励的策略。权衡很明显：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.

一名黑客在通过抽水和倾倒XMR洗钱时，在尝试使用衍生物将其从链中交易的同时，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

这可能是有史以来最糟糕的想法（对于黑客来说）。 Monero的流动性如此之低，即使有少量购买价格，价格也大幅上涨。 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

衍生市场也在发挥作用

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，这不仅仅是隐藏曲目。转移与加密衍生品市场中的异常活动相吻合，这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.

根据DeepCoin的分析，攻击者可能通过启动现货购买来降低XMR价格，然后将其用于从衍生品长位上获利。这种方法与以前的加密价格操纵的尝试紧密相似，诸如果冻这样的较小令牌，甚至暗示了臭名昭著的芒果市场利用2022年。似乎Monero Hack不仅仅是隐藏的尝试，而是在多个级别上游戏。

A Familiar Playbook of Crypto Manipulation

一本熟悉的加密操纵剧本

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.

该加密黑客使用的技术与一本剧本一致，该剧本在分散的金融中变得太熟悉了（DEFI）。这个概念很简单：操纵流动性不足的资产的价格以从更多液体衍生品市场的位置中获利。

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.

该策略以前是在超级液体上的代币果冻中采用的，并构成了1.14亿美元的芒果市场黑客攻击的中心部分，这导致了2024年对Avi Eisenberg的定罪。在这两种情况下，针对非流动性资产，并使用虚假的资产来产生大量利润。这个涉及XMR令牌的新案例似乎无缝地与同一类别无缝。

Slippage and Risk in Monero Trading

Monero交易的滑倒和风险

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.

由于其流动性有限，以这种方式使用Monero是一个大胆的举动。交易所不提供深层市场，因此移动大量可能会导致交易完成之前的价格变化，这是一种称为滑移的风险。 XMR价格可能会随着最少的交易量而飙升或崩溃。

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.

这种动荡的性质使洗钱特别有3.3亿美元，但黑客可能依靠这种非常不稳定的能力来在衍生品市场上产生定价压力。结果？一个定时的，虽然可疑的，但有机会从合成交易中获利。

Lesson After Monero Hack

Monero hack又一堂课

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令牌的未来仍然不确定。尽管Monero的隐私使其对合法的隐私拥护者有吸引力，但其与网络犯罪和这样的洗钱案件的经常关联可能会带来监管压力。

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是一个明确的例子，说明当Crypto Hacker创造性地使用时，如何利用隐私硬币。无论是XMR价格操纵还是越来越多的类似方案，都可以显然正在测试区块链透明度。隐私与监管之间的平衡可能很快就会提小费，而蒙罗（Monero）可能是该转变的中心。