Bitcoin-Linked Swaps Add Pressure to Stolen XRP Holdings
CryptoSlate reports that a Bitcoin-linked conversion strategy coincided with a steep decline in an estimated $60 million of stolen XRP.
CryptoSlate reports that a Bitcoin-linked conversion strategy coincided with a steep decline in an estimated $60 million of stolen XRP. Bitcoin (BTC) is trading at $73,349.00, down 0.1% since this brief published. This is an original TLT brief based on reporting by CryptoSlate, with live market data added, as of Thu, 12 Nov 2026 09:45:02 UTC.
The strategy for converting seized or stolen XRP could add sell-side pressure to a market already showing sharp weekly losses, while disrupted swaps complicate the hacker’s ability to move the remaining assets.
- Stolen XRP holdings were valued at roughly $60 million on November 10.
- Bitcoin-linked swaps were reported as a driver of the stockpile’s rapid decline.
- XRP fell 20.43% over seven days, compared with Bitcoin’s 8.42% decline.
- Total crypto market capitalization stood at $2.51T amid broadly flat conditions.
- Binance Attackers Add Bitcoin Holdings After Converting Stolen Altcoins
- Bitcoin-Linked Swaps Add Pressure to Stolen XRP Holdings — this brief
CryptoSlate, citing an Elliptic update from November 10, estimated that the remaining stolen 
XRP holdings were worth about $60 million. The report said the stockpile was falling rapidly as swaps involving 
Bitcoin drove a conversion strategy linked to the holdings.
Swap interruptions added another complication, limiting the ability to convert the remaining XRP further. CryptoSlate did not provide details about the size, execution or counterparties involved in those swaps in its published summary.
The move comes against a weak backdrop for XRP. The token was priced at $1.044, down 1.29% over 24 hours and 20.43% over seven days, giving it a market capitalization of $66.29 billion. Bitcoin traded at $73,424, down 0.38% over 24 hours and 8.42% over seven days, with a $1.48 trillion market capitalization.
The broader crypto market was comparatively stable, with total capitalization at $2.51 trillion and the Fear & Greed index at 28, indicating fear. The immediate issue to monitor is whether additional swap activity or further disruptions affect the reported stolen XRP holdings and XRP’s already-depressed weekly performance.
Since this brief published about 11 hours ago, Bitcoin (BTC) has moved from $73,424.00 to $73,349.00 — -0.10%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTC ≈ ₦103.00M (about $73,349.00), down 0.3% over 24 hours. The naira itself trades about 4.0% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Bitcoin-Linked Swaps Add Pressure to Stolen XRP Holdings — questions & answers
How much stolen XRP remained?
Elliptic’s November 10 update, cited by CryptoSlate, put the remaining stolen XRP holdings at about $60 million.
What was reported to be driving the XRP decline?
CryptoSlate reported that Bitcoin-linked swaps drove the rapid decline in the stolen XRP stockpile, while interrupted swaps complicated further conversions.
How has XRP performed over the past week?
XRP was down 20.43% over seven days to $1.044, compared with Bitcoin’s 8.42% decline to $73,424.
How much is 1 Bitcoin worth in naira today?
About ₦103.00M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $73,349.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.10% since this brief first published — trading at $73,349.00 now versus $73,424.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CryptoSlate. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.