Binance recorded 283 million XRP in large-transfer outflows on October 29, alongside a whale netflow of −226 million XRP—2.72 times the magnitude of the −83 million XRP reading in September 2022.
The spike coincided with a security breach.
Blockchain analytics firm [TRM Labs] traced 233.46 million XRP from five Binance wallets to an attacker-controlled address.
[Elliptic] independently reported approximately 233 million XRP in related transfers.
Large Withdrawals Return After Reopening
Outflows above 1 million XRP fell to 14.7 million XRP on October 30, down 94.8%, during the withdrawal suspension.
On November 1, Binance began restoring withdrawals, including XRP, in phases.
Large-transfer outflows reached 80 million XRP that day—5.44 times the October 30 reading—while whale netflow remained negative at approximately −50 million XRP.
Moving XRP off the exchange may reduce supply available for immediate sale and ease near-term selling pressure.
The phased restart, together with Binance's commitment to absorb theft-related losses and fully back XRP balances, signals operational recovery and measures to protect customer assets.



Written by Amr Taha
