Blockchain monitoring platform Whale Alert has reported that a wallet associated with a $6.3 billion breach of Binance has transferred a total of 80 million XRP to two unknown addresses. The transactions, conducted in two separate transfers, aggregated to an approximate value of $100.9 million.
Back-to-Back Transfers Raise Eyebrows
According to Whale Alert data, the first transfer was recorded on 2 November at 03:56 UTC, when 40 million XRP was sent from an address tagged “Binance Hack 2026.” This was followed by a second transfer of an additional 40 million XRP to a different address, a mere 50 seconds later. Both transactions originated from the same wallet but targeted two separate recipient addresses. However, there is no clear explanation for the motive behind these asset movements.
Whale Alert data reveals 80 million XRP was transferred to two undisclosed addresses from the wallet tagged “Binance Hack 2026.”
No Evidence of Crypto Exchange Redirection
At this point, there is no indication that the moved XRP has been deposited into any cryptocurrency exchange or is intended for sale. Therefore, the purpose of the transactions remains speculative. Large-scale on-chain movements can occur for diverse reasons such as asset redistribution post-security incidents, trace separation, or temporary storage adjustments.
Whale Alert is renowned for tracking high-value blockchain transactions using public data, providing market participants with early warnings of unusual asset movements.
Transfers Follow Resumption of Withdrawals
These transactions came soon after Binance began a phased reopening of withdrawal services, following a security breach that led to a temporary suspension. On 1 November, the exchange announced the gradual resumption of withdrawals across 15 blockchain networks, including XRP Ledger, Bitcoin, Ethereum, BNB Smart Chain, and Solana.
Binance also detailed plans for a progressive relaunch on other networks such as Tron, Dogecoin, Zcash, Avalanche, Sui, Polygon, and Arbitrum, with the first phase scheduled between 06:00 and 09:00 UTC on 1 November.
Binance stated it would gradually resume withdrawals following security and infrastructure checks, with around 95% of affected assets restored as of 1 November.
Binance Security Breach Tallies $6.3 Billion Loss
Binance disclosed on 29 October that a security breach targeting its hot wallets resulted in a loss of approximately $6.3 billion in crypto assets. Following this development, the exchange temporarily halted all withdrawals pending the completion of security audits.
The company assured customers that XRP reserves, alongside significant holdings such as Bitcoin, Ethereum, Solana, and BNB, were fully backed. The remaining 5% predominantly consisted of lower-liquidity crypto assets.
