Here's how evacuation of $5.24 million in XRP failed
Ripple CTO trolls FTX, but says it is not similar to Madoff
Thomas Silkjær, who coordinates analysis and compliance research at XRP Ledger Foundation (XRPLF), a non-profit behind the development of XRPL-focused blockchain solutions, noticed an unusual transaction on XRPL.
Here's how evacuation of $5.24 million in XRP failed On his Twitter, Silkjær has shared the details of a transaction that was authorized on XRP Ledger today, Nov. 12, 2022. Someone tried to move almost 14.2 million XRP tokens from an FTX-associated address.
As per his statement, someone tried to move this monstrous sum to BitGo, a B2B-focused cryptocurrency custody solution. However, the transaction was doomed to failure.
First, it lacked a destination tag. Also, the sender attempted to send the entire balance of the account, which is impossible due to minimum balance requirements.
XRP community members asked Silkjær about the hypothetical purpose of this transaction. He suggested that the assets had been moved to a safe haven amid the FTX collapse.
Ripple CTO trolls FTX, but says it is not similar to Madoff
The commenters of Silkjær's post stated that the transaction was resent and finally reached its destination.
As covered by U.Today previously, FTX has stopped processing withdrawals a number of times during the ongoing drama.