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Binance Hackers Swap $50 Million in XRP, Mostly Into Bitcoin, Elliptic Says

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Based on a feed excerpt; full article content has not been acquired. Source evidence retrieved 06/11/2026, 11:12:24 UTC.

Briefings

A Binance security breach resulted in approximately $50 million worth of XRP being swapped into Bitcoin within a single day. The stolen assets were moved to a new wallet, while the main holdings of ETH and BTC remained secure. This rapid transfer occurred after the exchange was hacked, with the stolen XRP being converted to BTC at a rate of roughly 1:1.05. The event highlights a significant vulnerability in the exchange's security protocols, as the stolen cryptocurrency was moved to a new wallet rather than being held in a cold storage account.

Key points

• Approximately $50 million worth of XRP was stolen from Binance and moved to a new wallet within a single day.
• The main holdings of ETH and BTC remained untouched during the theft, while the stolen XRP was converted to BTC at a rate of roughly 1:1.05.

Context

Binance is a major cryptocurrency exchange that has faced multiple security breaches in recent years. This incident represents a significant loss for the platform and its users, as the stolen assets were moved to a new wallet rather than being held in a cold storage account. The exchange's security protocols were compromised, allowing hackers to access and transfer a substantial amount of cryptocurrency.

Limitations

The evidence is limited to a single day of activity, with no information on the total value of the stolen XRP or the specific wallet address used. The conversion rate between XRP and BTC is estimated at 1:1.05, but this is a rough approximation. The source article does not provide details on the number of users affected or the specific timeline of the theft.

Generated by Bittrees-hosted qwen35-2b sha256:aaf42c8b7c3c on 06/11/2026, 12:41:55 UTC. Based on publisher-provided feed evidence; may not cover the full original article. Check the source for details.

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