Ripple (XRP), the sixth-largest cryptocurrency by market capitalization, made headlines following a thwarted hacking attempt on the Bitfinex exchange.
After an unsuccessful attack through the Bitfinex platform, data analysis accounts shared details of a multibillion-dollar XRP movement. Authorities promptly addressed the situation, quelling fears.
On January 14, 2023, an assailant targeted the Bitfinex exchange with an unsuccessful attack on the XRP Ledger network. Information surfaced through the WhaleAlerts account, indicating a movement of $15 billion worth of XRP in a single transaction. This amount represented half of the market value of the popular altcoin.
Bitfinex's Paolo Ardoino clarified that this situation stemmed from an unsuccessful hacking attempt. The attacker attempted to deceive Bitfinex by portraying the transaction as genuine, employing the "Partial Payment Exploit" method to potentially target the exchange. This method aims to transfer as much as possible to another system until the specified amount is withdrawn if there is a vulnerability in the institution. Ardoino reassured that the exchange's secure systems prevented any harm from this situation. Remarkably, the Ripple (XRP) price remained unaffected by the incident.
