8/102 sources · 2 publishersUpdated Nov 1, 11:15 UTC
Binance hack drains $296 million in XRP, Ripple freezes RLUSD and Binance backs losses
On Oct. 29, 2026 attackers stole about $296 million worth of XRP from five Binance wallets in four minutes, moving 233.46 million XRP. Ripple responded by freezing 40.5 million of its RLUSD stablecoin. Binance said it had covered roughly 90% of the total hack losses by Oct. 31 and plans to reopen withdrawals on Nov. 1 while completing a zero‑knowledge proof of reserves by Nov. 3.
Why it matters
The exchange’s near‑full coverage and reserve backing aim to protect customer balances, but the unrecoverable XRP loss may affect market liquidity. Ripple’s freeze of RLUSD limits further exposure of its stablecoin.
Key facts
- 1The hack occurred on Oct. 29, 2026. news.bitcoin.com
- 2Attackers moved about $296 million in XRP, equivalent to 233.46 million XRP, from five Binance wallets. news.bitcoin.com
- 3The first transaction accounted for roughly 79% of the stolen amount. news.bitcoin.com
- 4Ripple froze 40.5 million RLUSD on the Ethereum network. news.bitcoin.com
- 5Binance had covered about 90% of the total assets lost in the hack by Oct. 31. en.bloomingbit.io
- 6Binance aims to reopen withdrawals on Nov. 1 and complete a zero‑knowledge proof of reserves by Nov. 3. news.bitcoin.com
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.