UPDATE: Binance hacker moves $293M in stolen XRP to new wallets
CIE News ·
Update to UPDATE: THORChain outage tied to double-refund glitch amid Binance hacker hunt
Confirmed by 2 independent news outlets.
The Binance exploiter shifted 233.46 million XRP into six new addresses following an earlier breach, as the exchange logged $3.6 billion in net outflows and reserved $6.34 billion to cover losses.
The address holding assets from the October 29 Binance hot-wallet breach transferred 233.46 million XRP worth roughly $293 million into six new wallets on November 2 between 03:52 and 04:00 UTC. As previously reported, decentralized finance protocols instituted emergency measures and freezes against hundreds of attacker addresses linked to the multi-chain compromise. The overall theft drained between $6.3 billion and $6.36 billion across 10 blockchains, which U.S. authorities attributed to the North Korean TraderTraitor group.
According to Bitcoin.com News, the attacker initially dispersed test transactions before splitting the XRP stash into five wallets holding 40 million XRP each and a sixth holding 33.46 million XRP. Native XRP lacks an issuer-level freeze feature, unlike centralized stablecoins. Investigators previously tracked the movement of approximately $242 million in stolen assets through Tron routing paths, while $1.4 billion in stolen Bitcoin (BTC) remains stationary.
Following a phased withdrawal reopening on November 1, Binance registered $3.6 billion in net outflows by November 2, representing 2.1% of its $171 billion in assets under management, The Guardian reported. To absorb the impact, Binance stated it reserved more than $6.34 billion in corporate funds and SAFU capital to cover customer balances.
Key facts
- 233.46M XRP moved
- $293M value transferred
- $3.6B in Binance net outflows
- $6.34B in SAFU and company funds
Read the original at The Guardian