Binance moved 80 million XRP, worth about $101 million, from the compromised corporate wallet to new internal addresses, according to Whale Alert. Two identical transactions of 40 million XRP were recorded 50 seconds apart, before the balance of the hacked address fell to 23.7 XRP. This technical consolidation is intended to end activity on the vulnerable address, as XRP Ledger has no mechanism for freezing funds like some stablecoins. The attack began on October 29 and reportedly affected ten blockchains, with estimated losses of $6.3 billion, including the withdrawal of 233.46 million XRP, worth about $296 million, from XRP Ledger hot wallets within five minutes. Binance has restored withdrawals and plans to compensate all affected customers on a one-to-one basis using corporate reserves and SAFU fund resources.
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