Ripple Unlocks 500 Million XRP in a Release Worth About $626 Million

Bitcoin, Ether, and XRP prices fell, with over $1.5B in crypto liquidations after a Binance hack. Bitcoin dropped to $76,400, Ether below $2,200, and XRP between $1.21-$1.26. Binance, handling nearly half the liquidations, suspended withdrawals but began restoring them in phases. Hackers linked to North Korea were attributed by TRM Labs and Elliptic.

Binance reported a security breach on October 29, where approximately $296 million in XRP was transferred to an attacker-controlled address within four minutes. According to blockchain intelligence firms, the incident involved five wallets and was part of a larger attack moving billions across multiple networks. Ripple froze some stolen RLUSD tokens, while Binance committed $6.34 billion to cover losses, ensuring full reserves for XRP and nine other cryptocurrencies.

Evernorth, a Nasdaq-listed company holding XRP, filed to register 73.6M shares for early holders to sell, with lock-ups ending around April 2027. Ripple's September attestation showed RLUSD reserves exceeding supply. XRP traded near $1.25 with low volatility.

Binance has begun a phased restart of crypto withdrawals following a $6.3 billion hack, starting with bitcoin (BTC) and other major cryptocurrencies. The exchange prioritized the most requested networks and will monitor security and stability checks. Binance has replaced about 95% of the affected assets using company funds, assuring users that their balances are fully backed.

Binance, the world's largest crypto exchange, resumed withdrawals for Bitcoin, Ethereum, and other major cryptocurrencies after a $6 billion heist. The company will cover 90% of the losses. The FBI accused North Korea of being behind the attack, attributing it to a group called TraderTraitor.

Binance will resume withdrawals in phases after replacing 95% of the $6.3 billion in digital assets stolen in a cyberattack. The exchange will cover the losses and absorb financial costs. The FBI accused North Korea of the attack. Bitcoin, Ether, BNB, and others are included in the first phase.