XRP tops list of cryptos stolen in Bitget hack with $157 million
Bitget Exchange reported a hack on September 25, 2026, with XRP tokens worth $157.4 million stolen. CEO Gracy Chen assured users that the loss is covered by the exchange's User Protection Fund, valued at $464 million. Despite the hack, XRP's price surged 16% in a week, trading at $1.56, driven by whale demand and positive market sentiment.
How this was made
The 30-second read
Why it matters
The breach triggered a paradoxical price surge for XRP, driven by whale accumulation and the exchange's User Protection Fund covering the loss.
Market read
First‑report of a $157M crypto theft, significant for XRP traders and custodial risk assessment.
What to watch
Potential legal actions against Bitget and insurance claims could affect XRP liquidity and market perception.
Background
Bitget, a global centralized exchange, suffered a hot‑wallet breach that drained over 100 million XRP, 31,890 ETH and 12,719 BNB.
Ticker impact
XRP was the largest loss in the Bitget hack, with $157M worth of tokens stolen, confirming a major security breach.
Expect continued upside pressure in the near term as whales accumulate, but watch for volatility if further security concerns arise.
Large theft size, immediate 16% 7‑day gain, and strong whale buying suggest market confidence in XRP’s fundamentals outweighing the hack.
Market effects
Highlights security risks for centralized exchanges, may prompt tighter custodial standards across crypto sector.
Bitget users in Asia and Europe may reassess exchange choices, potentially shifting volume to other platforms.
Large $157M theft underscores systemic risk in crypto custody, could influence regulator scrutiny worldwide.
Counterpoint
The hack could trigger a longer‑term sell‑off if confidence in Bitget erodes, outweighing short‑term whale buying.
Key entities
- exchangeBitget
Centralized crypto exchange whose hot wallet was compromised.
- cryptocurrencyXRP
Native token of the XRP Ledger, primary victim of the hack.
