Binance hacker’s XRP stockpile rapidly crashes driven by Bitcoin swaps
AI summary
The hacker behind the 2022 Binance bridge exploit is rapidly converting a stolen XRP stockpile into Bitcoin, and Elliptic's November 10 update puts the remaining stolen XRP at about 60 million. Swap interruptions are complicating further conversions. Traders care because large forced XRP-to-BTC swaps add sell pressure on XRP and can unsettle confidence in exchange security, though the amounts are modest relative to overall market liquidity.
