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Binance hacker’s XRP stockpile rapidly crashes driven by Bitcoin swaps

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Binance hacker’s XRP stockpile rapidly crashes driven by Bitcoin swaps

Stolen XRP conversions into Bitcoin left about 60 million XRP at Elliptic’s Nov. 10 cutoff, while refunds and swap access complicate further selling.

The XRP stockpile linked to Binance's October hack had shrunk to about 60 million tokens by Nov. 10, according to blockchain analytics firm Elliptic, after another round of conversions largely into Bitcoin.

Elliptic's Nov. 10 update reported about 35 million additional XRP swapped through THORChain overnight, almost all into Bitcoin.

The change comes during broader XRP weakness, which is down 24% over the previous 30 days. The laundering figures do not establish if that decline resulted from the attacker’s conversions.

Bitquery's theft trace identified 233.5 million XRP sent from five Binance accounts during the Oct. 29 attack.

Elliptic put the remaining balance at about 192 million XRP on Nov. 6, about 148 million in its Nov. 7 account, and about 95 million by early afternoon Nov. 9. Its Nov. 10 estimate was about 60 million, including roughly 33 million in an address that had remained unmoved since its Nov. 2 funding.

Rounded XRP remaining: 192 million on November 6 at 08:45 UTC; 148 million on November 7, time unstated; 95 million by early afternoon November 9; 60 million at 11:00 UTC November 10, 2026. These are dated balances, not net completed-sale totals.

Elliptic also described repeated interruptions, saying that THORChain halted XRP trading on Nov. 7, with swaps stopping for almost a day, and reported successful swaps again from Nov. 8 afternoon. On the morning of Nov.



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