On April 18, 2022, Monero users coordinated a global mass withdrawal of XMR from centralized exchanges (CEXs). The movement was dubbed “The Monerun”—inspired by the concept of a “bank run”—and intentionally timed to align with Monero’s 8th anniversary.
The initiative’s goal was to shine a light on questionable exchange behavior. Organizers claimed that centralized platforms were taking advantage of Monero’s inherent privacy to misrepresent their reserves. “Monero’s concealed ledger makes it easy for exchanges to sell coins they don't own, assuming users won't withdraw—and without on-chain evidence of misconduct,” they warned.
Since Monero is built around anonymity, these alleged manipulations could go unnoticed. Organizers specifically accused major platforms like Binance, Huobi, and Poloniex of halting XMR withdrawals and not providing transparency (such as sharing view keys) in order to mislead users and maintain “paper Monero” schemes—selling fake reserves of the coin.
They argued that a mass withdrawal would be the best way to expose the truth. If users could easily withdraw their XMR, then reserves likely existed. If platforms delayed or blocked withdrawals, that would suggest a shortfall.
Binance responded to the allegations via email, saying, “Binance maintains strict internal policies against using customer token holdings. We have robust reconciliation systems to ensure on-chain balances match internal records. As the most liquid marketplace for crypto assets, this is not a problem we face.”
Within 24 hours of the event’s launch, Monero’s price surged by 11.54%—even as Bitcoin and many altcoins declined. Reports on Reddit revealed mixed results: Kraken processed XMR withdrawals smoothly, CoinEx users had no trouble, while Binance experienced delays attributed to “network congestion.”
At that point, Monero was trading at $259.66, having broken through key resistance at $240. Analysts at BanklessTimes predicted that XMR could soon aim for the $300 level. Growing interest in privacy coins amid global turmoil and the Monerun event both contributed to the bullish momentum.
Monero’s 8th Anniversary Milestones
April 18 wasn’t just the day The Monerun began—it also marked Monero’s 8th birthday. The official Monero site, getmonero.org, published growth metrics from April 2021 to April 2022. Key highlights include:
• Average daily transactions rose from 23,000 to 40,000.
• The blockchain increased by 19.24GB over the year.
• Network hash rate jumped from 2.29 GH/s to 3.51 GH/s.
• Monero’s subreddit grew from 211,000 to 257,000 members. Twitter followers increased from 389K to over 473K.
• Major upgrades included Bulletproof+, P2Pool integration, and Output Export Optimization.
• More merchants and organizations began accepting XMR for payments and donations.
Why Privacy Still Matters
These achievements underscore Monero’s growing popularity and user base. More people are waking up to the importance of financial privacy in an era of data overreach. Privacy isn’t a luxury—it’s a fundamental right. Keeping personal financial information private protects users from data exploitation, scams, and invasive control, whether by corporations, hackers, or even governments.
To safeguard your privacy in the crypto space, consider the following practices:
• Use decentralized exchanges when possible.
• Employ VPNs to mask your IP address while online.
• Buy crypto from vendors that don’t require excessive personal information.
• Opt for privacy-first coins like Monero for anonymous transactions.
• Store your coins in secure wallets that prioritize user privacy.
XMRWallet is an excellent open-source Monero wallet designed for privacy advocates. It enables fast, seamless XMR transactions while giving you full control over your private keys. No downloads, no registration, no compromises.
With its user-friendly interface, multi-language support, and fee-free platform—including full transaction import—XMRWallet is the perfect choice for anyone who values anonymity. Whether you're reacting to centralized exchange behavior or simply protecting your financial data, XMRWallet reinforces Monero’s mission: private, secure, and unstoppable money.
