Monero (XMR) has experienced a significant downturn, falling 41% from its January 14 all-time high of $797. The privacy coin's price dropped 9.5% in a single day to $463, marking a 20% decline over the past week. This sharp decrease follows a surge linked to cybercriminals exchanging $285 million in stolen assets for XMR, which analysts warned was unsustainable. The decline was exacerbated by India's Financial Intelligence Unit's directive to restrict transactions involving privacy-focused cryptocurrencies like Monero, Zcash, and Dash, citing money laundering and terrorism financing risks. This regulatory move mirrors similar actions by the UAE earlier this month, contributing to Monero's steep losses compared to its peers.