- Binance’s October 29 breach coincided with 226 million XRP in net whale outflows.
- Large XRP outflows hit 80 million on November 1 as Binance restored withdrawals.
- Whale Alert tracked 40 million XRP worth $50.46 million from a Binance hack wallet.
Binance’s October 29 security breach coincided with net whale outflows of 226 million XRP that day. CryptoQuant analyst Amr Taha reported 283 million XRP in large transfers leaving Binance that day. Meanwhile, investigators traced 233.46 million XRP from five Binance wallets being moved to one attacker address.
XRP Whale Outflows Surge Before Binance Restarts Withdrawals
Taha compared the reading with September 2022’s net whale outflow of 83 million XRP. The October figure reached 2.72 times that level, and the measurement counts tokens rather than dollar values.
TRM Labs recorded the XRP theft between 20:05 and 20:09 UTC on October 29. In addition, Elliptic identified approximately 233 million XRP leaving the same five exchange wallets. Each wallet retained its minimum balance after the transfers, according to TRM’s investigation.
During Binance’s withdrawal suspension, large XRP outflows dropped to 14.7 million tokens on October 30. Taha’s data showed transfers exceeding 1 million XRP, with the daily total declining by 94.8%.
Binance then began restoring XRP withdrawals in phases on November 1, following security checks. Large transfers out reached 80 million XRP, or 5.44 times the October 30 total. However, the net whale flows still showed approximately 50 million XRP leaving after accounting for deposits.
XRP Trades Near $1.25 as Hack Wallet Moves Stolen Funds
XRP traded near $1.25 at the start of November, according to the accompanying CryptoQuant data, below September’s rebound near $1.55. The token also trailed July 2025’s peak of approximately $3.50 but held above August’s lows near $1.00.
Binance pledged to cover theft losses with company funds, and it reported full reserve backing for XRP customer balances. The exchange also reported recovering roughly 95% of affected assets by November 1 and continued buying the remaining tokens.
Following the reports, on November 2, Whale Alert recorded a 40 million XRP transfer worth $50,456,669 from the address “Binance Hack 2026.” The alert identified the sender through its hack label but provided no owner information for the receiving wallet.
Related: XRP Whale Holdings Reach Highest Share Since 2022 as Price Holds Near $1.30
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