According to The Block, privacy coin Monero (XMR) recently reached an all-time high, and crypto investigator ZachXBT believes he has identified a contributing factor. ZachXBT suggests that funds obtained through a social engineering hack were converted into Monero, potentially driving the asset's price increase. The report highlights the potential impact of illicit activities on cryptocurrency markets and the role of privacy-focused coins in such transactions.

According to The Block, privacy coin Monero (XMR) recently reached an all-time high, and crypto investigator ZachXBT believes he has identified a contributing factor. ZachXBT suggests that funds obtained through a social engineering hack were converted into Monero, potentially driving the asset's price increase. The report highlights the potential impact of illicit activities on cryptocurrency markets and the role of privacy-focused coins in such transactions.