XRP Reserves on Binance Suddenly Spike by 280M Post-Hack

About 280 million XRP entered Binance in just 48 hours, marking a sudden increase in the exchange’s holdings following the Oct. 29 security breach. Between Nov. 3 and 5, the world’s largest crypto exchange saw its XRP reserves rise from 2.35 billion to 2.63 billion tokens, an increase of 11.9%. The increase comes one week after hackers broke into five of Binance’s hot wallets and stole billions of dollars’ worth of crypto assets. The latest increase in Binance’s XRP reserves follows the Oct. 29 attack, when hackers stole 233.46 million XRP from five of the exchange’s hot wallets in a coordinated operation. Blockchain intelligence firm TRM Labs later linked the attack to North Korea’s TraderTraitor hacking group. XRP was not the only cryptocurrency affected.

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