Monero (XMR) is a privacy-focused cryptocurrency launched in 2014 that uses ring signatures and stealth addresses to make transactions nearly untraceable and unlinkable. Unlike Bitcoin, Monero's ledger hides details of senders and receivers by splitting and mixing transaction amounts. While Monero is legal in the United States, it has been banned in some countries due to anonymity concerns. In November 2023, Monero's community crowdfunding system was compromised, resulting in the theft of 2,675.73 Monero.