Bitget Hackers Move $75M in Stolen XRP, Fueling Selling Pressure

An estimated $75 million in XRP has been moved out of three wallets linked to Bitget after the exchange's wallet infrastructure was breached, raising concerns about future selling pressure on the asset.

The attack saw nearly 103 million XRP taken from Bitget and split across five accounts. The redistribution of these funds is now causing market participants to reassess their expectations for XRP's price performance in the near term.

Two wallets initially holding 20 million XRP each were reduced to around 23 XRP and 55 XRP, respectively. A third wallet had its balance decreased to approximately 5.8 million XRP after the same time window.

XRP is currently trading at around $1.47, down about 3% over the past 24 hours but still holding a weekly gain of 3%. The token's price has not cratered on this news, as markets are pricing in the transfer as a risk factor rather than confirmation of a sell-off.