BREAKING: Whale Alert Claims More Than $100 Billion XRP Deposited on Cryptocurrency Exchanges – But What’s the Truth?

Whale Alert, known for issuing alarm notifications about big whale transactions, claimed that over $147 billion worth of Ripple (XRP) coins were transferred to cryptocurrency exchanges Binance and Bitfinex.

However, this is not possible since the amount of XRP in total circulation is 54 billion XRP. Bitfinex CEO Paolo Ardoino also made a statement on the subject:

“Someone tried to attack Bitfinex via a “Partial Payments Attack”.

The attack failed because Bitfinex properly processed the ‘delivered_amount’ data field…”

Someone attempted to attack @bitfinex via “Partial Payments Exploit”.
Attack failed since Bitfinex properly handles ‘delivered_amount’ data field.https://t.co/EiGw9UQmmq

(updated with better gif) https://t.co/8I7vlO05ou pic.twitter.com/DxOnJLLkhU

— Paolo Ardoino 🍐 (@paoloardoino) January 14, 2024

It appears that the attacker actually sent over $147 billion worth of Ripple (XRP) coins worth of fraudulent transactions to Bitfinex and Binance, another major exchange, using the “Partial Payments” feature, which allows the sender of a payment transaction to deliver less than the specified amount.

*This is not investment advice.