Ripple co-founder Chris Larsen’s XRP wallet hacked for estimated $112 million

Chris Larsen, enforcement president and co-founder of Ripple, said connected Jan. 31 that respective of his idiosyncratic XRP accounts had been hacked.

He wrote successful a station connected X:

“Yesterday, determination was unauthorized entree to a fewer of my idiosyncratic XRP accounts (not Ripple) – we were rapidly capable to drawback the occupation and notify exchanges to frost the affected addresses. Law enforcement is already involved.”

Larsen went connected to telephone the hack an “isolated incident” and reaffirmed that Ripple’s wallets are unafraid and person not been compromised. Ripple CEO Brad Garlinghouse made a akin comment, writing:

“Given immoderate irresponsible speculation and reporting, I privation to reiterate that NO Ripple-managed wallets were compromised. Full stop.”

Thomas Silkjær, Head of Analytics and Compliance astatine the XRP Ledger Foundation, provided further details. He said that the crypto speech WhiteBit alerted his squad of suspicious deposits connected Jan. 30. Silkjær’s squad past informed Larsen of the incidental and began cooperating successful the investigation.

Stolen XRP apt totals $112 million

Larsen and different Ripple-related individuals person not confirmed the magnitude stolen. However, on-chain sleuth ZachXBT antecedently reported that the addresses successful question were hacked for 213 cardinal XRP, oregon $112.5 million.

He besides noted that the stolen funds person been laundered done exchanges, including MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC.

ZachXBT speculated that Larsen’s backstage keys were compromised but did not suggest immoderate further details connected however this whitethorn person occurred.

ZachXBT initially suggested that Ripple itself was attacked. Following Larsen’s authoritative statement, helium continued to downplay immoderate meaningful favoritism betwixt Ripple’s firm accounts and Larsen’s idiosyncratic accounts, writing sarcastically: “Totally wholly abstracted entities … wink wink.”

That remark seemingly refers to the U.S. Security and Exchange Commission’s past allegations. The bureau antecedently claimed that Larsen and Garlinghouse held 20 cardinal XRP astatine an aboriginal day and engaged successful unregistered idiosyncratic token income alongside Ripple’s firm sales. The SEC dropped each charges against some executives successful 2023; Ripple was partially cleared of related charges.

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