- Ripple co-founder Chris Larsen has fallen victim to a massive hack, resulting in the loss of over 213 Million XRP (about $112.5 million).
The co-founder of the Blockchain payment firm Ripple has recently experienced a significant security hack, resulting in the loss of a substantial amount of XRP.
Ripple co-founder Chris Larsen said Wednesday that there had been “unauthorized access” to “a few of my personal XRP accounts.“
His comments followed a post on X from crypto sleuth ZachXBT, who said that it appeared Ripple “was hacked” for about 213 million XRP worth $112.5 million.
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“Yesterday, there was unauthorized access to a few of my personal XRP accounts (not Ripple),” Larsen said. “We were quickly able to catch the problem and notify exchanges to freeze the affected addresses. Law enforcement is already involved.”
ZachXBT first noticed the suspicious outflow, though they had attributed it to Ripple itself. Eight outgoing transactions occurred on Jan. 30, ranging between 400,000 XRP ($200,000) and 69.7 million XRP.
XRP Declines
The outgoing funds were then sent to the crypto exchanges MEXC, Gate, Binance, Kraken, OKX, HTX and HitBTC, the crypto sleuth added.
XRP declined on the news, falling 4.1% to $0.50 as of 9:49 a.m. ET, according to Coinstats.
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