Binance XRP reserves jump by 280 million after $6.34 billion security breach

Binance boosted its XRP reserves by around 280 million tokens within a 48-hour period, effectively reversing much of the decline that followed the company’s $6.34 billion security breach on October 29. This rapid increase comes as the exchange continues to recover and reinforce its reserves after a major theft affected multiple blockchain networks. CryptoQuant analyst Amr Taha reported that Binance’s XRP holdings grew from 2.35 billion on November 3 to 2.63 billion by November 5. This represents an 11.9% rise in XRP reserves, suggesting significant activity in the aftermath of the platform’s security event. The breach, which involved the theft of 233.46 million XRP from five Binance hot wallets, prompted questions about whether the rebound in reserves was due to new deposits, internal movements, or reserve replenishment by Binance itself.

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