Ripple Co-founder Loses Some Personal XRP Accounts to Hackers

Twitter icon  •  Published 2ヶ月前  •  Hassan Maishera

Ripple’s co-founder Chris Larsen has lost some personal XRP accounts to hackers, resulting in XRP’s price briefly declining below the $0.50 psychological level.

TL;DR

  • Ripple co-founder Chris Larsen confirmed on Wednesday that there had been “unauthorized access” to a few of his personal XRP accounts.

  • He said this following a post on X from crypto sleuth ZachXBT who revealed that Ripple “was hacked” for about 213 million XRP worth $112.5 million.

Ripple’s Chris Larsen Loses XRP Accounts to Hackers

Ripple co-founder Chris Larsen revealed on Wednesday that there had been "unauthorized access" to "a few of my personal  XRP accounts. He made this known while replying to a post on X from crypto sleuth ZachXBT, who said that it appeared Ripple "was hacked" for about 213 million XRP worth $112.5 million. 

Larsen confirmed that they were able to quickly catch the problem and notify cryptocurrency exchanges to freeze the affected addresses. Furthermore, he has also notified law enforcement agencies. 

ZachXBT first reported this after noticing the suspicious outflow. Eight outgoing transactions occurred on Jan. 30, ranging between 400,000 XRP ($200,000) and 69.7 million XRP.

The report immediately saw XRP, Ripple’s native coin, decline to a daily low of $0.4955. However, XRP has slightly recovered and is now trading at $0.5102, down by 3% in the last 24 hours. The outgoing funds were then sent to several crypto exchanges including MEXC, Gate, Binance, Kraken, OKX, HTX and HitBTC.

 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.