Hacking News
Binance Breach Leads to XRP Whale Outflows
Binance experienced a security breach on October 29, coinciding with a net outflow of 226 million XRP. CryptoQuant analyst Amr Taha reported 283 million XRP in large transfers leaving Binance that day. Investigators traced 233.46 million XRP from five Binance wallets being moved to one attacker address. The October outflow reached 2.72 times the level of the September 2022 net whale outflow of 83 million XRP. During the withdrawal suspension, large XRP outflows dropped to 14.7 million tokens on October 30. Binance reported full reserve backing for XRP customer balances and recovered roughly 95% of affected assets by November 1.