Cryptocurrency commentator Digital Asset Investor (@digitalassetbuy) issued a warning after 233 million stolen XRP began circulating across the blockchain.
The assets, pilfered during the October 29 Binance security breach, were divided among six newly generated addresses—a maneuver analysts recognize as a precursor to money laundering.
How the Binance Hack Unfolded
Initial reports indicated that XRP had no involvement in the Binance breach, but subsequent analysis revealed otherwise. Rather than following the hack, the XRP theft actually initiated it.
Between 20:05 and 20:09 UTC on October 29, five Binance wallets routed 233.46 million XRP to a solitary address controlled by the perpetrator. This entire transfer concluded in four minutes, after which the breach expanded to nine additional blockchains, including Ethereum, Bitcoin, Tron, and Solana.
Once investigators pieced together the full scope of the incident, total losses climbed to roughly $6.36 billion, establishing it as the largest crypto heist in history. The XRP portion alone amounted to about $296 million, representing nearly 4.7% of all stolen funds.
233 Million Stolen XRP On The Move pic.twitter.com/Ca2XOlK2eq
— Digital Asset Investor (@digitalassetbuy) November 2, 2026
The Scale of the Attack
The assault compromised ten blockchains in under 20 minutes. Tron incurred roughly $628 million in losses, while Solana suffered approximately $96 million, with the bulk of the losses stemming from Ethereum and Bitcoin reserves.
Chainalysis, TRM Labs, and Nansen all verified that the XRP transactions formed part of this unified operation. The $296 million worth of XRP is now factored into all primary damage assessments, easily surpassing the 103 million XRP ($158 million) taken from Bitget less than a month prior.
Binance committed to reimbursing all victims using internal reserves, setting aside $6.34 billion to make affected users whole.
Stolen XRP On the Move
For roughly 80 hours post-theft, the stolen cryptocurrency sat undisturbed in the initial destination wallet as investigators kept watch. No outgoing activity occurred during that period.
The hacker made their move on November 2, executing nine transfers between 3:52 and 4:00 UTC that dispersed approximately 233.45 million XRP to six fresh wallets. Digital Asset Investor highlighted the activity, pointing out that breaking up balances is a standard laundering tactic.
Because XRP cannot be frozen at the protocol level, the options available to trading platforms and law enforcement are restricted. While Ripple successfully froze $40.5 million in RLUSD linked to the attack, native XRP lacks this safeguard.
Where Things Stand
As of November 3, the six wallets currently holding the stolen XRP have not transferred the assets any further. Investigators continue tracking the addresses closely. This latest movement indicates the perpetrator is plotting their next steps, though no cryptocurrency exchanges have reported receiving the funds.