XRPL validator Vet has argued that the $6.28 billion Binance hack highlights an important advantage of native crypto assets like XRP over non-native assets like RLUSD.
In an X post, Vet noted that the attacker was actively converting stablecoins into native assets such as Ethereum (ETH) to avoid being frozen by issuers.
He then used the incident to challenge earlier arguments that RLUSD could eventually replace XRP in its role on the XRP Ledger. His point is that native assets like XRP have an advantage because they are not controlled by a central issuer, unlike stablecoins such as RLUSD.
“The Binance hacker knows more about the advantages of native assets than all the people telling me RLUSD will replace XRP,” the validator added.
XRP Community Reacts to Vet’s Comments
Vet’s comments sparked reactions across the XRP community. Some people agreed that the incident demonstrates why native cryptocurrencies are valuable.
XRP influencer Alex Cobb reacted with laughter, while another community member defended XRP’s long-term importance, saying, “XRP is the end game.” Another user, W!nter, joked that the hacker converting RLUSD into XRP could push XRP’s price higher.
They don't know what they don't know. $XRP is the end game 💪 https://t.co/NqHb9iTBZf
— Quantum Zeus (@Quantum_Zeus) October 30, 2026
However, not everyone agreed with Vet. One Japanese user argued that those concerned about RLUSD replacing XRP often make that argument in the context of international payments. He stressed that whether XRP can be frozen is often irrelevant to those discussions.
Instead, critics worry that RLUSD is taking over some of the roles that XRP originally performed within Ripple’s ecosystem and on the XRP Ledger.
Binance Hack Included $296 Million in XRP
Blockchain analyst Dickson Wu reported that Binance hot wallets lost approximately $6.3 billion in assets across eight different blockchains. According to his report:
- Ethereum (ETH): $3.74 billion stolen.
- Bitcoin (BTC): $1.47 billion stolen.
- XRP: $296.5 million stolen.
Other stolen assets came from Tron, Solana, Arbitrum, and Optimism. The stolen funds also included approximately $88.5 million in RLUSD, $1.87 billion in USDT, and $823 million in USDC.
Wu also explained how the hacker moved the funds. In one transaction, Binance attempted to send 42.75 million RLUSD to the attacker’s XRP account, but the transfer failed because the account did not exist.
Eight seconds later, Binance sent approximately 185 million XRP to the same address, thereby creating the account. The attacker then emptied four other Binance XRP wallets.
Wu added that several companies, including Circle, Tether, Ripple, World Liberty, and Paxos, froze more than $3 billion in stolen assets.
Why This Matters for XRP and RLUSD
The hack has renewed discussions about the differences between stablecoins and native cryptocurrencies.
RLUSD is a stablecoin issued by Ripple that maintains a value of $1. It can be used for payments and transactions on the XRP Ledger.
XRP, on the other hand, is the network’s native cryptocurrency. It can also be used to transfer value between different currencies and tokens.
Vet’s main argument is that XRP and RLUSD serve different purposes. Unlike RLUSD, XRP is not controlled by a central issuer that can freeze funds.
He believes this makes native cryptocurrencies important, especially when users want to move funds without depending on a company to approve or control their transactions.