In January 2024, hackers stole 283 million XRP tokens from Ripple co-founder Chris Larsen's wallet. The breach's source was exposed in March 2025 by blockchain forensic expert ZachXBT.
Incident Details
Hackers exploited vulnerabilities in LastPass, a password management platform. Two major cyberattacks in 2022 leaked encrypted user data, leading to over $35 million in stolen crypto assets.
Reaction and Consequences
Chris Larsen acknowledged the hack on social media, clarifying that Ripple's corporate reserves were unaffected. ZachXBT's findings revealed Larsen's untouched wallets contain 2.7 billion XRP tokens.
Conclusions and Recommendations
The incident highlights systemic security issues with private key storages, sparking discussions in the crypto community about secure alternatives such as hardware wallets.
Investigation is ongoing, with the FBI attempting to trace the stolen XRP. The breach underscores cloud-based storage vulnerabilities and the importance of offline key management.
