A security incident at Bitget resulted in the theft of roughly 103 million XRP, which were distributed across five separate addresses. The stolen amount represented about 4% of the daily trading volume reported for XRP, though the actual depth of the order book is lower than the headline figure. The immediate fallout focused on the exchange’s ability to replace the lost funds, with Bitget stating its protection fund would absorb the loss and that customer balances remain intact.

Recent on-chain activity

In the latest movement, the attacker shifted about 54 million XRP out of three of the original wallets. Two of the addresses, each of which originally held close to 20 million XRP, were drained to single-digit balances—one to roughly 23 XRP and another to about 55 XRP. A third, larger wallet still retains around 5.8 million XRP. At the time of reporting, roughly 49 million XRP, valued near $75 million, stayed across the remaining accounts.

Implications for XRP price

XRP traded near $1.47, down roughly 3% over the previous 24 hours, yet it still posted a 3% gain for the week. The market appears to be pricing the transfers as a risk factor rather than an immediate dump, as no large sell order has been confirmed on exchanges. Because XRP is the native asset of its ledger, the protocol does not provide a freeze capability for the currency itself, limiting Ripple’s ability to block further movement. Should the attacker move the tokens onto an exchange or swap them for other assets, sell pressure could increase, with the actual price response depending on available liquidity.

Exchange response and timeline

Bitget has outlined a phased resumption of withdrawals: Bitcoin withdrawals are slated for September 28, Ethereum for September 29, USDT for September 30, and other tokens by October 2. The exchange maintains that its internal safeguards will protect users, but the unresolved destination of the remaining XRP continues to be a point of market focus.

Why it matters

The relocation of a sizable chunk of stolen XRP heightens uncertainty around the token’s short-term price dynamics. While the exchange’s protection fund shields users from direct loss, the broader ecosystem must monitor whether the attacker will liquidate the holdings, which could test market depth and influence sentiment toward XRP and other high-profile assets tied to custodial platforms.