Ripple was subject to an attack resulting in the theft of approximately 213 million XRP. The assets were transferred to exchanges including Binance and Kraken.
Discovered Hack
On-chain investigator ZachXBT reported suspicious XRP transfers valued at $112.5 million, sent to exchanges from a wallet reportedly activated by Chris Larsen. Eight addresses involved in suspicious transactions have been identified.
Chris Larsen's Commentary
Chris Larsen clarified that his personal accounts were compromised, not Ripple’s corporate assets. Most of the stolen funds have been frozen, and efforts to recover them continue with law enforcement's involvement.
Incident Context
The incident occurred amid a strong XRP price performance, trading at $3.09, close to its all-time high. The attack coincided with XRP's successful market dynamics.
The Ripple hack highlights the importance of cybersecurity. Chris Larsen confirmed that this remains an isolated incident, and Ripple is working to recover the assets.
