Ripple Cannot Freeze Its Native XRP While Bitget Hackers Transfer $83,000,000
On September 26, PANews, citing CoinDesk, reported that the Bitget hacker had moved about $83 million worth of XRP from three compromised XRP-holding addresses. Of the roughly 103 million XRP originally stolen, about $75 million in value remained distributed across five initial receiving addresses, according to the report.
What the Chain Data Shows
The report said on-chain data showed two of the initial addresses, which each first held 20 million XRP, had been nearly emptied. As of Saturday, 12:41 Coordinated Universal Time, those addresses held about 23 XRP and 55 XRP, respectively. A third address had fallen to about 5.8 million XRP. The pattern suggested that the stolen tokens were being redistributed rather than left untouched.
Why Ripple Cannot Freeze the Tokens
XRP is the native asset of the XRP Ledger. Ripple cannot freeze it in the same way it can freeze issuer-controlled tokens such as USDC and USDT. That removes the most direct way for Ripple to stop the hacker's holdings on-chain. Recovery depends in part on where the funds move next.
What Happens Next
If the stolen XRP reaches exchanges, those platforms can restrict related accounts and withdrawals, but the report did not describe a way to directly freeze the hacker's native XRP holdings. The next point to watch is how the remaining roughly $75 million is routed through wallets and trading venues.
Risk Warning
This article is provided for information and news compilation only and does not constitute investment, legal, or financial advice. Digital assets, including XRP and other cryptocurrencies, can experience severe price volatility and may result in substantial losses. Readers should independently verify facts, assess risks, consider their own financial situation, and consult qualified professionals before making any investment decision. Always make rational, informed choices rather than acting on news headlines alone.
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