Ripple co-founder Chris Larsen's personal XRP account was hacked, leading to $112.5M XRP theft and a 5% drop in XRP/USD value.

Ripple co-founder Chris Larsen's personal XRP account was hacked, leading to the theft of $112.5 million worth of XRP tokens. This caused an over 5% drop in the value of XRP/USD tokens on Wednesday. Larsen confirmed that the breach did not affect the Ripple network and that law enforcement had been informed. The stolen tokens were extracted from a substantial wallet on the XRP Ledger blockchain and moved through several exchanges, including Binance, Kraken, and OKX. The hack has raised concerns about the security of the blockchain and the transparency of Ripple.

January 31, 2024
26 Articles