ZachXBT links wallet to XMR surge as Tether freezes $72M USDT

Tether froze more than $72 million in USDT on Tron after ZachXBT linked a large wallet to recent Monero buying and a sharp XMR price spike.

ZachXBT traces $120M USDT wallet

On-chain investigator ZachXBT said a Tron address received 120.2 million USDT on June 11 before moving funds across exchanges and cross-chain routes. The address was identified as TA6YHqB2xh5HhfmC7WoLQaWmqq7Vv4zCoQ.

The funds later moved in several directions. ZachXBT said more than $12 million went to KuCoin deposit addresses, while $8 million moved to instant exchanges.

Another $8 million was bridged from Tron to Bitcoin and Ethereum through Near Intents. The activity drew attention because it happened before and during a strong move in Monero.

Monero orders linked to XMR spike

ZachXBT said the same entity created large Monero orders. He linked those orders to a sharp XMR move from $330 to $420.

“The entity created Monero orders which caused the XMR price to spike from $330 -> $420,” said ZachXBT.

Monero later traded near $357.20, according to crypto.news market data. XMR recorded a 24-hour trading range between $345.09 and $438.06, showing how wide the move became.

The token’s 24-hour trading volume stood near $291.3 million, while market capitalization was around $6.7 billion. XMR was still up over 3% on the day and almost 10% over seven days.

The move added fresh attention to Monero’s market depth. Large orders can move XMR quickly because the asset has less exchange access than many top tokens.

Tether freezes related Tron address

ZachXBT said Tether later blacklisted a related Tron address holding about 72 million USDT. Whale Alert data showed 72,030,295 USDT frozen on Tron on June 12.

The freeze shows how issuer-controlled stablecoins can be halted at the token contract level. This makes USDT different from assets like Bitcoin or Monero, where issuers do not control transfers.

As previously reported by crypto.news, Tether froze about $515 million in USDT across Ethereum and Tron over a 30-day period in May. Tron accounted for most of those frozen balances.

Monero rally follows earlier demand

The wallet activity came after Monero had already seen stronger market attention. As previously reported, XMR rose above $350 after double-digit daily gains on June 11.

That earlier move was tied to privacy-coin demand, Cake Wallet’s Passport Prime integration, and renewed attention around Monero security audits. The latest ZachXBT report added a separate liquidity-driven angle.

Monero remains one of the largest privacy coins by market value. Its design hides transaction sender, receiver, and amount details by default, which makes it attractive to privacy users and harder for investigators to track.

The latest price action now leaves traders watching whether XMR can hold above the $350 area. A return toward $400 would keep the breakout debate alive, while loss of support could show that the spike was driven mainly by short-term order flow.