Monero supporters plan 'bank run' to test foreign reserves

A group of Monero fanatics fed up with centralized exchanges have reportedly taken to social media to announce that an XMR "bank run" will occur on April 18.

The so-called Monerun comes on the eighth anniversary of the coin's birth and comes in response to community members' perceived lack of openness in Monero coin, including allegations that centralized exchanges are banning XMR withdrawals and skewing reserves.

"It's looking more and more like exchanges are paper trading #Monero and misrepresenting how much they have on customers. Opt out, take those keys away from the exchange and actually own your XMR," Seth Simmons, an information security engineer and Monero enthusiast, wrote on Twitter.