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Binance Hack Linked to a 36-Hour Plan and $296M XRP Outflow
TradingGain Newsroom··30 Oct 2026, 05:40 UTCA hacker reportedly spent at least 36 hours preparing an attack on Binance, which was valued at $6.36 billion. The operation started with a $296 million drain of XRP, and TRM Labs says the attacker began preparing on October 28. For traders, the size of the breach and the planning behind it may raise concerns about exchange security and XRP's short-term price.
Why it matters
- The attack began with a $296 million XRP drain, putting selling pressure and attention on XRP.
- TRM Labs says the attacker prepared for at least 36 hours, which suggests a planned, coordinated operation.
- Transfers were spread across 10 blockchains, which could make tracking and recovering funds harder.
What to watch next
Watch for TRM Labs' further findings and any official Binance statement on the affected funds and XRP price moves.
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This brief is written by TradingGain from public reporting by CryptoSlate.Read original ↗