On-chain analyst MLM reported that approximately $23 million in funds, suspected to have been stolen through hacking or phishing, were used to purchase Monero (XMR). According to MLM, the address withdrew $29.3 million worth of USDC from Coinbase three days ago, converted it to DAI, then exchanged it back to USDC, and subsequently purchased XMR through multiple wallets. Analysis showed that the related addresses purchased approximately $23 million worth of XMR over the past 4-17 hours, during which the price of XMR increased by about 15%. Currently, these addresses reportedly hold approximately $4 million worth of DAI on-chain and have ceased further XMR purchases.
