Ripple Co-Founder's Personal XRP Accounts Hacked: Company Clarifies Ripple Wallets Unaffected
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Unauthorized Access Targets Co-Founder's Personal Accounts
Crypto analyst 'ZachXBT' reported the incident, initially creating speculation that Ripple's infrastructure had been compromised. However, Larsen clarified that the unauthorized access was directed at his personal accounts, not Ripple-managed wallets. The hacker attempted to launder the stolen funds through various exchanges, including MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC.
Proactive Measures and Company Assurance
Upon discovering the unauthorized access, Larsen took immediate action, notifying the exchanges involved to freeze the affected accounts. Brad Garlinghouse reaffirmed the security of Ripple-managed wallets, stating, "NO Ripple-managed wallets were compromised. Full stop." Additionally, Larsen expressed the company's commitment to resolving the issue, confirming that a significant portion of the affected funds had been frozen and converted out of XRP.
Market Impact and Recovery
The news of the security breach had a notable impact on XRP's market value, causing a temporary decline of over 5%. Community members expressed concerns over Ripple's delayed response until the incident was reported by the crypto sleuth. Despite the initial dip, XRP's price has stabilized around $0.4976, with a 2.48% loss in the last 24 hours.
This isolated incident has shed light on the importance of securing personal accounts, even for prominent figures within the crypto space. Ripple continues to prioritize the security of its managed wallets and remains vigilant against potential threats.