$15 billion XRP transfer to Bitfinex turned out to be a failed attack
An alleged XRP transaction worth nearly $15 billion from an unknown wallet to the Bitfinex exchange on January 14 was found to be part of a failed attempt at a "fractional payment exploit."
Tracking service Whale Alert, known for monitoring cryptocurrency transactions, initially reported a transaction of 25.6 billion XRP, which is almost half of the total token turnover, from an unidentified wallet on Bitfinex.
The news of such a colossal transfer raised eyebrows and raised questions about the potential implications for the XRP market.
Armstrong emphasized that the reported transaction of 25.6 billion XRP was highly unlikely given the total maximum volume of XRP of 100 billion. In addition, a significant portion is held in escrow, and the largest wallet contains only 5 billion XRP.
Armstrong also suggested that the incident could have been a hack of the Whale Alert account or the dissemination of inaccurate information to manipulate the price of XRP.
