Hacking News
XRP Stockpile Converted to Bitcoin After Binance Hack
About 35 million XRP stolen in the Binance hack was converted into Bitcoin overnight via THORChain. About 60 million XRP remained, with new deposits refunded. This conversion occurred during broader XRP weakness, which has declined by 24% over the previous 30 days. The theft trace identified 233.5 million XRP sent from five Binance accounts during the October attack, with Elliptic estimating the remaining balance at about 192 million XRP on November 6, 148 million on November 7, and 95 million by early November 9. THORChain halted XRP trading on November 7, with swaps stopping for almost a day, and resumed swaps on November 8. The XRP stockpile was reported to have shrunk to about 60 million XRP by November 10, with about 33 million XRP in an unmoved address since November 2.