Bitget Hacker Moves Stolen XRP Worth $83 Million Amid Ongoing Breach
The hacker behind Bitget's massive $387.5 million breach has moved about $83 million in stolen XRP from three holding wallets, leaving another $75 million in accounts that cannot be frozen under the XRP Ledger's rules.
According to CoinDesk's review of XRP Ledger records, nearly 103 million XRP was taken from Bitget on Thursday and divided among five accounts. By Saturday at 12:41 UTC, two accounts had been reduced to about 23 and 55 tokens, while a third was down to about 5.8 million XRP.
Ripple has no built-in way to block the attacker from spending those coins, leaving recovery efforts dependent in part on where the money goes next. Exchanges can restrict accounts that receive stolen XRP, but Ripple cannot freeze transactions from wallets controlled by the attacker.
Circle and Tether have separately frozen about $320,000 in related stablecoins, while Bitget has confirmed its protection fund covers the loss and customer balances remain unaffected. Withdrawals are scheduled to resume in stages from September 28 through October 2.