Bitget Hacker Moves $83 Million in Stolen XRP as Ledger Limitations Hinder Recovery

The hacker responsible for the Bitget exchange breach has transferred approximately $83 million worth of stolen XRP from holding wallets. Unlike stablecoins such as USDC and USDT, which allow issuers to blacklist addresses and freeze funds, XRP is the native asset of the XRP Ledger and lacks a built-in mechanism for Ripple to block transactions. While Circle and Tether have successfully frozen about $320,000 in stablecoins linked to the attack, the recovery of the stolen XRP remains dependent on the ability of centralized exchanges to restrict accounts receiving the funds.