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XRP: Santander apologizes for misinformation regarding usage of XRP for international transfers

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XRP: Santander apologizes for misinformation regarding usage of XRP for international transfers
Source: Unsplash

Santander, a Ripple partner and leading retail and commercial bank headquartered in Spain, apologized in a tweet about misinformation regarding the use of XRP for international payments and corrected their statement hours after the incident.

A Twitter user Wes G [@wesgranger] tweeted:

“Hi all how is Santander getting on with using XRP for payments ?”

Santander replied saying that they were using XRP for international payments.

Santander’s tweet sent the XRP fans into a frenzy as they ‘found proof’ that Santander was using xRapid for international transfers.

This development was important as the XRP community believed that xRapid and xCurrent 4.0 [which also uses XRP] would push the price of XRP higher. This has been the long-standing belief of a lot of people in the XRP community.

xRapid is a payment solution developed by Ripple that leverages XRP to source liquidity and allows payments to flow without friction across the borders. Ripple partnered with more than 250 partners, including banks and other financial institutions, in order to bring them onto a single network called RippleNet.

There were a few who weren’t sure about the rumor and said that if XRP was actually being used by Santander, there would be a huge volume on the XRP Ledger.

However, Santander corrected their statement a few hours later via a tweet that read:

“We are sorry, unfortunately due to a misunderstanding we have given incorrect information. We do apologise for the confusion this has caused. One Pay FX uses xCurrent only.”

This was the second rumor that the XRP community braced with after misinformation about the Cobalt update was put to rest by the lead scientist at Coil, who is also the main man behind the update.

@stefanhash, a Twitter user commented:

“Well #xcurrent has #xrapid integrated ! They didn’t mistake , they just realize they give inside informacion !”

@francovgaete, another Twitter user commented:

“kind of relief.. if volume and prices are like this even with them using #xrp to move money to over 18 countries, then something was very wrong…. phew!!”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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GateHub: Stolen XRP funds transferred to prominent exchanges

Namrata Shukla

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GateHub stolen XRP funds moved to Bitfinex and OKEx
Source: Pixabay

The GateHub hack that took place earlier this month resulted in the exchange losing nearly 23 million XRP worth approximately $9 million. However, Whale Alert, a tracker of large crypto transactions, alerted the community of these stolen funds being moved to various different exchanges.

One of these exchanges was identified to be Bitfinex, which received 400,025 XRP on June 16 at 10:57:22 UTC. The sender’s address was r4hyDYXv7iV3oCahxQzqYYfgxwyBx3AyMN and was identified to be from the GateHub hack 2019. The receiver’s address was identified to be Bitfinex’s- r9o9MerrS7d2GAEs6JPj4v4JcvZAJNtLUY. The hash rate of the transaction was 21124F7818A2903E9750456D603CC9AACC9DBE6CE2EF0AA191C734339B4CA682 and the transaction details were as follows:

Source: Whale Alert

Source: Whale Alert

Another transaction was noted to take place to the Bitfinex wallet address where 100,000 XRP was transferred from another identified GateHub hack address. The identified Bitfinex’s wallet address was rDcz7P9YMpffLKhRBovTzhUr3wKtk3y9q7. This wallet address was quick to transfer the funds immediately to another exchange, OKEx. OKEx previously received 3,000 XRP from the stolen funds to an identified OKEx address- rUzWJkXyEtT8ekSSxkBYPqCvHpngcy6Fks. The hash rate of the transaction was noted to be BE97F68A20E996A2E1A37228DCBD45A1F26E8E2B3A842E9FCFFF7721157C1C37 and following were the transaction details:

Source: Whale Alert

Source: Whale Alert

The stolen funds were moved to another prominent exchange, Binance, and CZ was swift to inform Whale Alert that he would look into it. However, the crypto users did not find any relief about these funds going to other exchanges as the exchanges did not respond to the large transactions.





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