A major security breach unfolded on January 10, 2026, when approximately $282 million in Bitcoin and Litecoin was stolen from a hardware wallet through social engineering tactics. The attacker moved the compromised assets through instant exchange platforms, converting them into Monero to obscure the transaction trail. This sudden influx of capital into Monero created noticeable liquidity pressure, causing the XMR price to spike sharply in response. The incident underscores the evolving sophistication of social engineering attacks targeting high-value crypto holdings and highlights how large fund movements across different assets can create measurable market ripples, particularly in privacy-focused cryptocurrencies.