Ripple’s XRP Freeze Gap Widens as RLUSD Supply Nears $2.5 Billion
Ripple’s XRP ecosystem is facing two contrasting developments this week. Stolen XRP from the Bitget breach continues to move, while Ripple’s RLUSD stablecoin approaches $2.5 billion in circulation. The two stories highlight a key difference between native XRP and issuer-controlled tokens.
The freeze gap becomes clearer
The attacker behind Bitget’s $387.5 million breach has moved about $83 million in stolen XRP from three original wallets, according to CoinDesk. Roughly $75 million remained across the five original XRP holding accounts as of Sept. 28.
Nearly 103 million XRP was taken during the Sept. 24 incident. The funds were then divided among several wallets. Blockchain movements show that the attacker has redistributed a significant portion, although transfers alone do not prove that the XRP has been sold.
Ripple cannot freeze native XRP because XRP is the built-in asset of the XRP Ledger. Ripple says it does not control the ledger and cannot reverse transactions.
The distinction matters because issued tokens on the ledger can include issuer-level controls. Centralized stablecoin issuers can also blacklist addresses under certain circumstances. Ripple’s own RLUSD terms allow the company to freeze or burn RLUSD held in specific wallets when required by law or its compliance policies.
RLUSD approaches a new milestone
At the same time, RLUSD’s circulation has continued to expand. Ripple’s latest transparency data showed $2.3956 billion of RLUSD in circulation as of Sept. 3, with $2.5177 billion in reserve funds.
Market trackers subsequently placed circulating supply near $2.5 billion. That growth reflects additional issuance rather than a major change in the stablecoin’s dollar price, which is designed to remain close to $1.
The contrast creates an unusual week for the XRP Ledger. Stolen native XRP can continue moving between self-custodied wallets without an issuer-level freeze. RLUSD, by comparison, operates with controls that give its issuer greater intervention capabilities.
For exchanges and investigators, the distinction makes the destination of the stolen XRP increasingly important. Once funds reach a centralized platform, that platform may be able to restrict the associated account. Until then, the ledger’s rules leave native XRP outside Ripple’s direct freezing authority.
