Binance hack began with a $296 million XRP drain after 36-hour preparation

An attacker spent at least 36 hours preparing an operation against Binance, a cryptocurrency exchange, that began with a $296 million XRP drain and was part of a $6.36 billion cryptocurrency exchange hack, according to an Oct. 29 investigation by TRM Labs. TRM Labs, a blockchain intelligence firm, said the attacker's preparation started on Oct. 28. It said coordinated transfers were then carried out across 10 blockchains the following evening.