Ripple minted 110.57 million RLUSD tokens on the XRP Ledger on November 2, according to transaction data. The issuance followed a 28.7% decline in the XRP Ledger stablecoin supply on October 30, when $284.4 million in RLUSD returned to Ripple’s issuer account.
Supply Drop Precedes Mint
Ripple’s stablecoin treasury issued 110,565,832 RLUSD at around 20:43 UTC on November 2. The transaction was reported using XRP Ledger records and public tracking data. RLUSD is designed to maintain a value of one US dollar.
The mint does not confirm that customers purchased $110.57 million in RLUSD. Stablecoin issuers also create tokens for treasury management, exchange balances, and settlement needs. Ripple has not publicly tied this transaction to Binance’s withdrawal recovery.
Earlier, XRPL stablecoin supply crossed $1 billion during the third quarter, as previously reported.
Binance Restores RLUSD Withdrawals After Breach
Binance restarted selected cryptocurrency withdrawals on November 1. On November 3, it announced another phase covering nine blockchain networks. RLUSD withdrawals were listed for both Ethereum and the XRP Ledger, subject to security checks.
The second withdrawal phase followed an October 29 breach that affected about $6.34 billion in digital assets. Binance said attackers gained access to an internal wallet signing service and moved funds without authorization.
Five Binance wallets sent 233.46 million XRP to an attacker-controlled address during the breach. The exchange later reported replacing 98% of affected token assets by November 4, while buying the remaining less-liquid holdings. It pledged to cover customer losses.
Binance also recorded $3.64 billion in net outflows during the first nine and a half hours after services resumed. The company said the initial rush later eased.
Ripple Freezes Stolen RLUSD, Native XRP Lacks Freeze Feature
Researchers reported that Ripple froze roughly $40.5 million in stolen RLUSD on Ethereum following the attack. RLUSD has issuer controls that can block transfers from specified addresses. Native XRP has no comparable issuer-controlled freezing feature.
The Binance hack investigation also traced the intrusion to malicious software and a fake recruitment process. Binance said its review remained open and external security firms would examine its findings.
RLUSD transfers on XRPL require small network fees paid in XRP. However, creating $110.57 million in stablecoins does not mean users purchased the same amount of XRP.
