23 Million XRP Are On The Move Following A GateHub Hack
Ripple’s XRP is in the spotlight for various accomplishments but now, also following a hack which involves Ripple’s digital asset.
23M XRP stolen from GateHub
23 million XRP worth about $9.2 million has been stolen from the crypto wallet service GateHub early this month.
Now, it seems that the hacker is shifting the stolen crypto and trying to cash out at every opportunity.
The Daily Hodl just reported that according to big data analyst and Forbes contributor Thomas Silkjær, the hacker has been trying to cash out by sending large chunks of the XRP to more crypto exchanges such as Binance, Changelly, KuCoin, Huobi, and HitBTC.
2.5M XRP sent to ChangeNow
According to the crypto exchange service ChangeNow, 2.5 million XRP was sent to its platform.
The team was able to stop a part of the funds from being swapped into other digital assets.
“On the 9th of June, thanks to our team’s fast and coordinated actions, we have managed to stop a solid number of XRP exchanges that the hackers tried to make through us,” according to official notes.
As you might know, @GateHub was recently hacked, with 23 million $XRP stolen.
Some of the funds ended up on @ChangeNOW_io.
Here's what we have to say on the matter. Spoiler alert – we've managed to save more than 500,000 #XRP.
Read full statement here: https://t.co/DMtp8yrZWl
— ChangeNOW (@ChangeNOW_io) June 11, 2019
It seems that “The total amount of Ripple that was attempted to be transferred through us is 2.5 million. We managed to retain more than 500,000 XRP. Even though it is an impressive number, we think there could be more to be done on our part.”
According to GateHub, over 18k XRP accounts might have been affected due to this terrible hack, says the Daily Hodl.
“We urge all customers individually notified by email to move their XRP into a GateHub hosted wallet immediately.”
XRP bold price predictions
Other than this, in more optimistic news, there have been a lot of bullish predictions surrounding XRP.
Smartereum says that XRP will hit $10 in the next 90 days. They base their prediction on the fact that Ripple has been bagging new partnerships that would lead to more use cases for XRP.
Also, the more people use xRapid’s tech, the more popular Ripple and XRP will become, the higher the demand for the token will be.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.