Bitget Hacker Moves Stolen XRP Amid $388M Breach

The hacker behind Bitget's $388 million breach has moved around $83 million in stolen XRP, leaving another $75 million in accounts that cannot be frozen. The network rules do not allow for freezing of XRP itself, only tokens issued on it.

Ripple, the company behind the XRP Ledger, does not have a built-in way to block the attacker from spending those coins. Recovery efforts are dependent on where the money goes next, as exchanges can restrict withdrawals if they receive stolen XRP.

Circle and Tether, companies behind dollar-linked tokens USDC and USDT, have already frozen about $320,000 in stablecoins connected to the breach. These tokens contain controls that allow the companies to blacklist addresses.