Ripple Co-Founder Reports Personal XRP Accounts Hacked
Ripple co-founder Chris Larsen disclosed that his personal XRP accounts were targeted by hackers, resulting in a loss of approximately $112 million. The announcement followed suspicions raised by blockchain investigator ZachXBT, who flagged suspicious transfers of XRP, suggesting a hack had taken place.
Ripple Co-Founder Confirms Account Breach
In a statement, Larsen revealed that hackers had gained unauthorized access to his personal Ripple accounts. He emphasized that this breach did not impact Ripple and that they were able to freeze the addresses involved in the hack by notifying exchanges. Law enforcement was also notified and is now involved in the investigation.
Ripple CEO Affirms Wallet Security
CEO Brad Garlinghouse reiterated that no Ripple-managed wallets were compromised, addressing speculation and irresponsible reporting surrounding the incident.
Hack Details Revealed by Blockchain Sleuth
ZachXBT, the blockchain investigator, revealed that around $112 million worth of stolen XRP had been laundered through various crypto exchanges, including Binance, OKX, HTX, Kraken, and Gate, among others. The researcher highlighted eight significant transactions associated with the hack.
Exchanges Assist in Investigation
Binance and Kraken confirmed their awareness of the incident and stated that they were actively cooperating with the investigation. They have implemented incident response measures and proactive reviews to prevent their platforms from being used for such activities in the future.
Hacked Wallet Ownership Still Unclear
Despite the clarifications from Ripple and Larsen, it remains uncertain who controls the hacked wallet. There have been calls for transparency, urging Ripple’s co-founders to disclose their crypto wallets and XRP holdings to address concerns about ownership and accountability.
Hot Take: Ripple Co-Founder’s Personal XRP Accounts Hacked, Leading to $112 Million Loss
The co-founder of Ripple, Chris Larsen, has revealed that hackers gained unauthorized access to his personal XRP accounts, resulting in a loss of approximately $112 million. This incident raised concerns about the security of personal cryptocurrency accounts and the need for increased transparency in the industry. While Ripple stated that their wallets remained secure, the hack highlighted the vulnerability of individual users and the importance of strong security measures. Exchanges such as Binance and Kraken are actively assisting in the investigation to prevent their platforms from being exploited in the future. This incident serves as a reminder for crypto users to prioritize security and remain vigilant against potential threats in the digital landscape.
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