In the latest development of the Bitget exchange breach, a hacker has moved an estimated $83 million in stolen XRP, according to multiple cryptocurrency news outlets. Two of the original holding wallets have been largely emptied, a third is currently being drained, and roughly $75 million remains distributed across five accounts. Ripple Labs, the company behind XRP, confirmed that it cannot freeze the transferred tokens, underscoring a limitation of its network controls.
Scope of the Theft and Current Wallet Status
The movement of the stolen XRP was first detailed by CoinDesk, which noted that the illicit funds were split among five primary wallets after the initial breach of the Bitget platform. Two of those wallets have been “almost emptied,” while a third is in the process of being siphoned. The remaining balance, estimated at about $75 million, is still held across the five original addresses.
According to CoinDesk, the hacker transferred roughly $83 million worth of XRP, leaving about $75 million across five wallets.
The figures have been echoed across a range of outlets, including Altcoin Buzz, bloomingbit, and Finance.biggo.com. No outlet reported a different total, suggesting a consensus on the magnitude of the theft.
Ripple’s Inability to Freeze the Tokens
Ripple Labs responded that the company lacks the capacity to freeze the stolen XRP. The firm explained that, unlike some centralized tokens, XRP operates on a decentralized ledger where the issuer cannot unilaterally lock or reverse transactions once they are confirmed. This technical limitation means that once the hacker moves the assets off the original exchange wallets, they become effectively untouchable by Ripple.
Ripple’s statement aligns with the broader industry understanding that the XRP ledger does not provide a “freeze” function. The company’s inability to intervene has been highlighted as a cautionary note for exchanges and users concerning custodial security.
Market Context and Potential Impact
The theft comes at a time when the broader cryptocurrency market is experiencing heightened volatility, with Bitcoin trading near $27,000 and XRP itself hovering around $0.45, down modestly from its early‑2024 peak. While the immediate impact on XRP’s price has been muted, analysts note that large‑scale token movements can influence market sentiment, especially when the stolen assets are not quickly liquidated.
Crypto‑focused analysts have pointed out that the presence of $75 million in unspent XRP could lead to future price pressure if the hacker attempts to sell the tokens in a short‑time frame. However, the decentralized nature of the ledger makes tracking and intercepting such sales challenging. Exchanges that list XRP may face heightened scrutiny from regulators and users demanding stronger security protocols.
Regulatory bodies have not yet issued formal statements on the Bitget incident, but the event adds to ongoing discussions about the need for clearer guidelines on custodial responsibilities and the technical safeguards that exchanges must implement.
As investigations continue, law‑enforcement agencies in multiple jurisdictions are reportedly cooperating to trace the blockchain activity. The incident underscores the persistent risk that centralized exchanges face when safeguarding digital assets, and it reinforces the importance of robust security measures for both platforms and individual holders.
Market Snapshot
| Asset | Price | 24h | Market Cap |
|---|---|---|---|
 Bitcoin BTC | $84,013 | +0.01% | $1687.8B |
 Ethereum ETH | $2,685 | -0.32% | $327.8B |
 BNB BNB | $770.75 | -0.55% | $102.6B |
 XRP XRP | $1.52 | -2.88% | $95.9B |
 Solana SOL | $121.21 | -0.68% | $71.2B |
 Dogecoin DOGE | $0.0972 | -0.47% | $15.2B |
 Cardano ADA | $0.255 | +0.16% | $9.6B |
Live data: CoinGecko — 2026-09-26 19:22 UTC
