Stolen XRP Moves to New Wallets After Binance Hack

| timestabloid.com
XRP linked to the October 29 Binance hack moved on November 2, but reports differ on the scale and transaction details. One account tracked 80 million XRP, worth about $101 million, transferred in two transactions 50 seconds apart to two unidentified addresses. A later report, citing crypto commentator Digital Asset Investor, said about 233.45 million XRP—valued at roughly $296 million—was split from one wallet across six newly created addresses over eight minutes, after around 80 hours of inactivity. The figures may reflect different tracking or transfers and have not been reconciled. As of November 3, the six wallets had not sent the XRP onward, and no exchange had reported receiving it; there is no confirmed evidence the funds were sold. The movements came as Binance resumed withdrawals. The exchange said it had replaced about 95% of affected assets, while customers made net withdrawals of $3.64 billion in the first nine and a half hours. The XRP is reportedly part of an attack affecting ten blockchains, with estimated total losses of about $6.36 billion. Ripple reportedly froze $40.5 million in stolen RLUSD, but native XRP cannot be frozen or reversed at the protocol level. Splitting XRP across new wallets can be a laundering step, but the transfers alone do not prove laundering or a sale. US authorities have attributed the broader attack to North Korean hackers.
Neutral
The XRP transfers create a potential short-term supply overhang because the funds could eventually be sold. However, the reported wallets had not forwarded the XRP by November 3, no exchange had confirmed receiving it, and there is no verified evidence of a sale. The conflicting reported totals also make it difficult to assess the precise amount at immediate risk of entering the market. Traders may monitor wallet activity and exchange deposits for signs of liquidation, but the transfer itself does not establish selling pressure. Over the longer term, the incident raises security and confidence concerns, yet these reports alone do not indicate a change in XRP’s fundamentals or establish a sustained price direction. On the available evidence, the direct price impact on XRP is neutral, with the risk of a bearish reaction if the funds move to exchanges and are sold.