Here’s How Hackers Siphoned $300M in XRP from Binance in Latest Hack

On-chain data shows how hackers moved nearly $300 million worth of XRP from Binance during a major security breach that cost the exchange $6.3 billion. On the evening of Oct. 29, blockchain monitoring platform Whale Alert flagged a large XRP outflow from Binance worth nearly $300 million. At first, the transaction looked like a regular exchange withdrawal and attracted little attention. However, closer examination linked the transfer to what investigators now call one of the largest crypto exchange exploits in history, with a reported loss of about $6.3 billion. The XRP transfers occurred within a four-minute window. At 8:05 PM UTC, the Binance (6) XRPL wallet activated a newly created address, rk2…zMx , by sending it 185 million XRP worth $235.8 million at the time.

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