Close Menu
  • Crypto News
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Trending

One ETH Transfer Costs a Staggering $112,745

July 18, 2025

Ripple’s RLUSD Stablecoin Rockets 127% in Volume, Big Upside for XRP?

July 18, 2025

Belarus floats CBDC payment for BRICS amid US tariff threats

July 18, 2025

Binance Airdrops, Adds Trading Support for New Blockchain Integrating Interface Token Chainbase (C)

July 18, 2025

Tom Lee Predicts $30,000 Ethereum As Treasury Frenzy Begins

July 18, 2025
Facebook X (Twitter) Instagram
  • Advertise
en English
nl Nederlandsen Englishfr Françaisde Deutschit Italianoru Русскийes Españolzh-CN 简体中文hi हिन्दीja 日本語
Crypto Observer
  • Crypto News

    Tom Lee Predicts $30,000 Ethereum As Treasury Frenzy Begins

    July 18, 2025

    This Altcoin Soared 75% After Coinbase Gave It a Boost — Find Out Why

    July 18, 2025

    XRP Open Interest Just Hit A Fresh ATH Above $10 Billion, Will Price Follow Next?

    July 18, 2025

    Trump’s Crypto Venture Now Holds $251M in ETH: $26M Profit and Counting

    July 18, 2025

    Dogecoin Rockets Beyond $0.20 — Is $0.36 or Even $0.54 Next?

    July 18, 2025
  • Markets
  • Bitcoin
  • Ethereum
  • XRP
  • Altcoins
  • Technology
  • More
    • Crypto Prices – Latest from BTC, ETH & XRP
    • NFT
    • DeFi
Facebook X (Twitter) Instagram
Crypto Observer
Home » Markets » Coinpedia’s Fact Check Uncovers WazirX’s Alleged 55M XRP Transfers
Markets

Coinpedia’s Fact Check Uncovers WazirX’s Alleged 55M XRP Transfers

Crypto Observer StaffBy Crypto Observer StaffJuly 18, 2025No Comments2 Mins Read
Facebook Twitter Pinterest Reddit Telegram Email LinkedIn Tumblr
Share
Facebook Twitter LinkedIn Pinterest Email

A recent post by an anonymous Twitter user @TOOFAANARMY alleges that WazirX, one of India’s top crypto exchanges, transferred over 55.25 million XRP (valued at approx ₹1,500 crore) to Binance and other wallets between February 2023 and July 2024, just before the alleged ₹2,000 crore hack.

The tweet claims the XRP originated from a wallet tagged rPPbi1iNXmvY9HmJ9sH9g4gxvgVEfN4NaZ, sparking fears of insider foul play or hidden activity.

The user implies that these massive pre-hack transfers were suspicious and possibly linked to the aftermath of the WazirX exploit.

Coinpedia’s Fact Check: WazirX CEO Responds

To verify the claims, Coinpedia reached out to WazirX CEO Nischal Shetty, who offered the following clarification:

User Activity, Not Anomalous Transfers

According to Shetty, the XRP transfers were part of regular user withdrawals and deposits. Users typically move their funds to exchanges where they have accounts, and such movements are standard in crypto exchange operations.

Cold Wallet Consolidation Was Ongoing

He stated that WazirX has long followed a practice of consolidating tokens into cold wallets for security, and this activity wasn’t new or unusual. The wallet in question had been publicly listed on WazirX’s Proof of Reserves page when the platform was active.

Post-Hack Movements Disclosed

Post-incident, some assets were moved to a few exchanges and BitGo for safekeeping. These were disclosed, and token balances were independently assessed and shared with the court and all affected parties.

No Direct Binance Transfers Confirmed

Addressing the specific point about Binance, Shetty stated

“We don’t have an account with Binance, so we would not be sending tokens there. If there is a specific on-chain transaction, we’re happy to verify it.”

Conclusion

At this stage, the wallet movements in question have been publicly acknowledged by WazirX, and the exchange maintains they were routine and transparent. The claim remains unverified, and no direct on-chain evidence has been provided to establish any irregularity.

Read the full article here

Exchange
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Belarus floats CBDC payment for BRICS amid US tariff threats

July 18, 2025

Schwab Wants to Offer Stablecoin Amid Expanding Crypto Services Push: CEO

July 18, 2025

Binance Announces Seamless Rebranding to SKY

July 18, 2025

Mastercard Issues Statement on Cryptocurrencies Amid Rising Market

July 18, 2025
Add A Comment

Leave A Reply Cancel Reply

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Top Posts

One ETH Transfer Costs a Staggering $112,745

July 18, 2025

Ripple’s RLUSD Stablecoin Rockets 127% in Volume, Big Upside for XRP?

July 18, 2025

Belarus floats CBDC payment for BRICS amid US tariff threats

July 18, 2025
Advertisement
Demo

Crypto Observer is your one-stop website for the latest crypto news and updates, follow us now to get the news that matters to you.

Facebook X (Twitter) Instagram
Crypto News

This Altcoin Soared 75% After Coinbase Gave It a Boost — Find Out Why

July 18, 2025

XRP Open Interest Just Hit A Fresh ATH Above $10 Billion, Will Price Follow Next?

July 18, 2025

Trump’s Crypto Venture Now Holds $251M in ETH: $26M Profit and Counting

July 18, 2025
Get Informed

Subscribe to Updates

Get the latest crypto news and updates directly to your inbox.

Facebook X (Twitter)
  • Privacy Policy
  • Terms of use
  • Advertise with us | Publishing
  • Contact us
  • Crypto News – Press release
  • Newsletter sign up
  • Markets
  • Altcoins
  • Bitcoin
  • Crypto News
  • DeFi
  • Ethereum
  • Technology
  • Blockchain
  • AI
  • NFT
  • Thanks for joining us
© 2025 Crypto Observer. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.