ChainCatcher reported, citing monitoring by ZachXBT, that an address beginning with TA6YHq received 120.2 million USDT on the Tron network. After receiving the funds, the address transferred more than $12 million to a KuCoin deposit address and sent another $8 million to multiple instant exchanges. USDT is the stablecoin issued by Tether, and Tron is one of the networks where it circulates.
Monero Orders and Cross-Chain Transfers
The same entity also created Monero orders, which led the price of Monero to briefly rise from $330 to $420. Monero is a crypto asset known for privacy-focused features, and the reported order activity occurred alongside the short-lived price move.
The monitoring information further showed that more than $8 million was bridged from Tron to Bitcoin and Ethereum through Near Intents. In a previous development, Tether froze 72 million USDT held in an address beginning with TBzrPE, which was directly related to TA6YHq.