Hacker Moves $83 Million in Stolen XRP Across Wallets as Draining Continues
A hacker linked to the Bitget exploit has begun moving approximately $83 million in stolen XRP, with two wallets nearly emptied and a third actively being drained. Ripple has no technical ability to freeze the funds on the open ledger. Roughly $75 million remained across the five original holding accounts at the time of reporting.
A hacker associated with a Bitget exploit has initiated large-scale movement of stolen XRP, transferring approximately $83 million worth of the asset across multiple wallets. Two of the original holding wallets have been almost entirely emptied, and a third was actively being drained at the time the report was filed.
Approximately $75 million in XRP remained distributed across five original accounts, suggesting the movement is ongoing and methodical rather than a single bulk transfer. The pace and scale of the transfers indicate a coordinated effort to disperse the funds.
A key detail in this situation is that Ripple, the company, has no ability to freeze or claw back XRP held in wallets on the open ledger. Unlike certain stablecoin issuers that retain administrative controls, XRP on the XRPL operates without a centralized freeze mechanism available to Ripple. This limits the practical options for asset recovery and places the burden of response on exchanges and law enforcement.
Key facts
- •$83 million in stolen XRP has begun moving across wallets
- •Two wallets have been nearly emptied; a third is actively being drained
- •Five original holding accounts contained the funds
- •Approximately $75 million remained at time of reporting
- •Ripple has no technical ability to freeze XRP on the open ledger
- •Funds are linked to the Bitget exchange hack