Home » US$112 mln XRP theft hits Ripple’s Larsen

US$112 mln XRP theft hits Ripple’s Larsen

by CoinVeem

Chris Larsen, the chief chairman of San Francisco-based funds agency Ripple Labs, has been hacked, ensuing within the theft of 213 million XRP tokens. 

The cyberattack, which focused Larsen’s holdings, has led to a loss estimated at round US$112 million.

In keeping with ZachXBT, a web-based blockchain sleuth who first reported the hack on X (previously Twitter), the stolen funds have been “laundered” by way of cryptocurrency exchanges, together with Binance, Kraken and OKX. 

“Yesterday, there was unauthorized entry to a couple of my private XRP accounts (not @Ripple ) – we had been shortly capable of catch the issue and notify exchanges to freeze the affected addresses. Regulation enforcement is already concerned,” said Larsen

Larsen added that the hack was an remoted incident and Ripple’s wallets are safe. 

XRP, the cryptocurrency that Ripple Labs builds its fee merchandise round, had a steep drop of round 5% following the incident. It traded at US$0.5114 at 2:00 p.m. ET, in accordance with CoinGecko information. 

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