ZachXBT: TRON $120M USDT Transfer Linked to Monero Surge, Tether Freezes $72M

According to ZachXBT, a TRON address received 120.2 million USDT on June 11. Shortly after, the funds were redistributed through multiple channels across the crypto ecosystem.

A portion of the assets, over $12 million, was moved to KuCoin deposit addresses. At the same time, around $8 million was routed through instant exchange platforms, while another $8 million was transferred via NEAR Intents into Bitcoin (BTC) and Ethereum (ETH).

In parallel, the same entity placed large buy orders for Monero (XMR), coinciding with a sharp rise in its price from $330 to $420. Following these movements, Tether blacklisted a related address holding 72 million USDT.

Source: ZachXBT