Garlinghouse Denies Ripple Hack
According to Brad Garlinghouse, CEO of Ripple, there was no wallet compromised in the recent Ripple hack. Earlier, it was reported that $112.5 million worth of XRP coins were lost in the attack, causing the price of the token to drop by 4%. The initial breach originated from an address called “rJNLz3…ojm.”
Complex Laundering Operation
After carrying out the hack, the perpetrators conducted a complex laundering operation by redirecting the stolen funds to several exchanges including Gate, MEXC, and Binance. This was done to obfuscate the source of the assets and make recovery difficult.
Ripple Wallets Secure
Ripple’s co-founder and executive chairman, Chris Larsen, clarified that the compromised wallet belonged to him personally and not to Ripple Labs. He assured that all Ripple wallets are secured and were never compromised. Efforts are underway to minimize the impact of the hack with cooperation from law enforcement agencies.
Gralinghouse Addresses Speculations
In response to speculations and rumors surrounding the hack, Brad Garlinghouse reiterated Larsen’s explanation. He emphasized that no Ripple-managed wallets were compromised.
Warning to Crypto Customers
Hackers are exploring different methods for their illicit activities. Recently, a deepfake video of Garlinghouse surfaced online where he encouraged users to send their assets to a disguised hacker. Investors and traders are advised to remain vigilant and avoid suspicious links and emails.
Hot Take: Garlinghouse Denies Wallet Compromise in Recent Ripple Hack
Brad Garlinghouse, CEO of Ripple, has dismissed claims of any wallet compromise in the recent Ripple hack. He clarified that the compromised wallet belonged to Chris Larsen personally and not to Ripple Labs. Garlinghouse urged caution and vigilance among crypto customers, warning them about various scamming methods employed by hackers. It is essential for investors and traders to avoid suspicious links and emails to protect their assets.
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