Bitget Hacker Moves $83 Million in Stolen XRP as Ripple Struggles to Freeze Funds

The attacker behind Bitget’s massive $387.5 million breach has moved roughly $83 million worth of stolen XRP out of three separate wallets, according to blockchain records. About $75 million remains locked in accounts that Ripple’s network cannot freeze, since XRP itself lacks the built-in controls that allow other tokens to be blocked.

Why XRP Cannot Be Frozen Like Other Tokens

Unlike stablecoins such as USDC and USDT, which their issuers can blacklist, XRP has no mechanism letting Ripple restrict spending once coins leave an exchange. Recovery now depends on tracking where the funds land next, since receiving platforms can freeze accounts but not coins sitting in wallets the hacker controls.

Transfers Accelerate Overnight

Nearly 103 million XRP was originally split across five wallets after Thursday’s breach. Within roughly eight hours on Saturday, balances dropped sharply as the attacker spread funds across additional wallets. Circle and Tether have already frozen about $320,000 in stablecoins tied to the hack.

XRP traded near $1.54 Saturday, down 3.9% daily but up 9% weekly. Bitget confirmed customer funds remain protected, with phased withdrawals resuming starting September 28.