Monero price rockets 33% to $438 amid $120 million onchain laundering maze

60-second summary

Monero price rockets 33% to $438 as onchain sleuth ZachXBT uncovers a $120 million laundering maze, tracing funds across exchanges, instant swap services, and other blockchains. Tether has since frozen $72 million in USDT linked to the activity, sparking market concerns about the cryptocurrency's potential for illicit use and its impact on Monero's value and legitimacy.