The Executive Director of Ripple Labs, Chris Larsen, has become a victim of cybercriminals who have stolen $112 million worth of XRP tokens from his wallet. The cryptocurrency exchange Binance has frozen $4.2 million worth of XRP funds associated with this incident. Richard Teng, the head of the cryptocurrency exchange Binance, reported this last week.

According to information, developers of the XRP Ledger, responsible for the blockchain using XRP, detected the breach and asked exchanges to monitor deposits related to the hacker's wallets.

The head of Ripple Labs, Chris Larsen, fell victim to hackers on January 30, who hacked his personal accounts and withdrew XRP tokens worth $112 million.

Cryptocurrency exchanges were notified and requested to freeze incoming funds from suspicious addresses.

Well-known crypto detective, known by the pseudonym ZachXBT, first noticed unusual token movements from Larsen's wallet. According to his data, some of the funds were quickly "cleaned" through cryptocurrency exchanges MEXC, Gate.io, Binance, Kraken, OKX, HTX, HitBTC, and other platforms.