Bitget Hack Drains $157M in XRP, Hacker Redistributes Stolen Funds

• •Bitget lost over 102.9 million XRP in a security breach, totaling $157.48 million.
• •The attacker redistributed 54 million XRP, increasing potential sell-side pressure.
• •Bitget has suspended withdrawals but claims user balances are safe.

On September 24, 2026, Bitget confirmed a multi-chain security breach resulting in the theft of over 102.9 million XRP, valued at approximately $157.48 million. The attack exploited a vulnerability in Bitget's backend system, allowing unauthorized transfers without compromising private keys. The total loss from the incident is estimated at $351.6 million, with XRP suffering the largest loss compared to other cryptocurrencies. Following the breach, the attacker redistributed 54 million stolen XRP across multiple wallets, raising concerns about potential selling pressure on the asset. Bitget has temporarily suspended withdrawals while conducting a security review but assures that user balances remain safe. The exchange is collaborating with security firms to investigate the incident, suspecting the involvement of the North Korean Lazarus Group.