Hacker Targets Ripple Co-Founder Chris Larsen's Personal Wallets, Stealing Over $117 Million in XRP
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Chris Larsen Addresses the Breach
Chris Larsen took to the social media platform X to address the breach promptly. He clarified that the unauthorized access was limited to his personal XRP accounts and emphasized that Ripple's wallets remained secure and were never compromised. Larsen assured the community that the problem was swiftly identified, exchanges were notified to freeze the affected addresses, and law enforcement agencies were already involved in the investigation.
"This is an isolated incident, and Ripple wallets are secure/were never compromised. We’ve confirmed nearly all the affected funds were converted out of XRP. We’re working with law enforcement and have been advised that a significant portion of funds have been frozen, and are pursuing the remainder aggressively."
Ripple CEO Denies Company Compromise
The security breach triggered speculation, with a tweet from on-chain researcher ZachXBT suggesting that Ripple, the company, had been hacked for approximately 213 million XRP, valued at $112.5 million. Ripple CEO Brad Garlinghouse dismissed the claim as "irresponsible speculation and reporting," echoing Larsen's assurance that none of the company's addresses were impacted.
Extent of the Hack Revealed
Crypto tracker Lookonchain provided additional details, revealing that the hacker targeted four of Larsen's wallets, making off with a total of 237.68 million XRP, equivalent to $117.4 million. A substantial portion, 212.68 million XRP ($105 million), was reportedly transferred to exchanges.
As the investigation unfolds, Ripple remains committed to collaborating with law enforcement to recover the stolen funds. The incident highlights the ongoing challenges and risks associated with the security of personal cryptocurrency holdings.
