Binance hack sees large XRP withdrawals as exchange pledges full backing
Image: Bitcoin.com NewsBinance suffered a hack that led to unauthorized XRP withdrawals from its wallets. Blockchain analysts traced multiple large transfers, including tens of millions of XRP moved within minutes. Binance confirmed that all XRP balances remain fully backed and that most affected assets have been replenished. The exchange also announced a phased restoration of withdrawals for XRP and other networks.
Key points
- Binance was hacked, resulting in unauthorized XRP withdrawals from its wallets.
- Analysts observed multiple large XRP transfers, including tens of millions moved within minutes.
- Binance stated that XRP balances are fully backed and most assets have been replenished.
- Binance plans to resume withdrawals in phases for XRP and other blockchains.
Why it matters
The hack highlights security risks for centralized exchanges, while Binance's assurance of full backing and withdrawal resumption aims to protect user funds and maintain market confidence.
What's unclear
The motive behind the recent 40 million XRP transfers to mystery addresses has not been disclosed.
Price context · XRP
At publication
$1.25
Now
$1.25
Change since
+0.00%
7 days · dashed line = publication
Sources · 2 publishers
U.Today
Tier 2
40 Million XRP Moved From Binance Hacker Wallet
Coverage timeline
- First reported by Bitcoin.com News
- Also reported by U.Today
- CryptoVideos brief published
How this page is checked. AI drafted this brief from selected independent reports. Automated checks compare numbers, source coverage and topic terms, but may miss errors. Publication and evidence refreshes run automatically. Read the linked reports for context. Report an error
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