Ripple co-founder reports unauthorized access to some personal XRP accounts

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The Block2024/01/31 15:28

By:The Block

Quick Take: Ripple co-founder Chris Larsen said Wednesday that there had been “unauthorized access” to “a few of my personal XRP accounts.” His comments followed 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.

Ripple co-founder reports unauthorized access to some personal XRP accounts image 0

Ripple co-founder Chris Larsen said Wednesday that there had been "unauthorized access" to "a few of my personal XRP -4.65% accounts." His comments followed 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.

"Yesterday, there was unauthorized access to a few of my personal XRP accounts (not Ripple)," Larsen said. "We were quickly able to catch the problem and notify exchanges to freeze the affected addresses. Law enforcement is already involved."

ZachXBT first noticed the suspicious outflow , though they had attributed it to Ripple itself. Eight outgoing transactions occurred on Jan. 30, ranging between 400,000 XRP ($200,000) and 69.7 million XRP.

XRP declines

The outgoing funds were then sent to the several crypto exchanges, the crypto sleuth added.

XRP declined on the news, falling 4.1% to $0.50 as of 9:49 a.m. ET, according to The Block's Price page for the token .

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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