Hacker Sprinkles 54M Stolen XRP Across New Wallets Like Confetti Nobody Asked For 🎉

Nearly 54 million XRP stolen from crypto exchange Bitget have been redistributed out of three of the five wallets that originally held the funds, an on-chain shift that increases the likelihood of future selling pressure on the token. The movement follows a $388 million exploit of Bitget's wallet infrastructure, during which roughly 103 million XRP were split across five accounts.

By 12:41 UTC on Saturday, two wallets that each initially held about 20 million XRP had been drained to roughly 23 XRP and 55 XRP, respectively, according to on-chain data reviewed by CryptoNews. A third wallet, which had held an unspecified share of the 103 million total, was reduced to approximately 5.8 million XRP over the same window. The remaining two wallets together held an implied balance of about 43 million XRP, leaving roughly 49 million XRP, valued near $75 million, across the original five addresses at that point.

The redistribution is consistent with an on-chain pattern that typically precedes a liquidation attempt, though it does not confirm that one has occurred. Coins that had remained largely static for approximately one day began moving across new addresses, spreading the stolen balance rather than consolidating it.

XRP was trading around $1.47 at the time of writing, down about 3% over the preceding 24 hours while still posting a weekly gain of roughly 3%. The token has not reclaimed its position above the levels recorded prior to the Bitget breach.

Bitget disclosed the $388 million exploit last year, with investigators tying the incident to compromised wallet infrastructure rather than a smart-contract vulnerability. The exchange has not publicly commented on the latest wallet movements as of publication.