Those stolen funds were found again on Bitget and are moving: about 54.5 million XRP, equivalent to about $83.3 million. They were withdrawn from exchange wallets that were initially holding them; on-chain, there is still about $75 million worth of XRP left in its original location. Ripple cannot freeze it—since the original XRP is not a token issued by Ripple, blacklisting policies don’t help.
In comparison, Circle and Tether moved first: they secured about $318,000 worth of USDC/USDT within the relevant addresses, and compared to the massive gap/deficit in this case—around $3.87 billion—that’s just a sliver. This freeze-marking is also being deployed in the arena.
What can be frozen was frozen first, and what can’t still keeps flowing; now we wait to see whether it will run into the deposit gate at centralized exchanges.
In comparison, Circle and Tether moved first: they secured about $318,000 worth of USDC/USDT within the relevant addresses, and compared to the massive gap/deficit in this case—around $3.87 billion—that’s just a sliver. This freeze-marking is also being deployed in the arena.
What can be frozen was frozen first, and what can’t still keeps flowing; now we wait to see whether it will run into the deposit gate at centralized exchanges.