The cryptocurrency community experienced a shock by the news of a major hack targeting Ripple’s co-founder and executive chairman, Chris Larsen. Approximately $112 million worth of XRP (Ripple’s cryptocurrency) was stolen from Larsen’s own personal wallet. This incident is the largest cryptocurrency theft so far in 2024 and the twentieth largest in recorded history.
Chris Larsen immediately took to X to address the situation, revealing that there had been “unauthorized access” to his personal XRP accounts. He assured the public that the problem was swiftly identified, and exchanges were notified to freeze the affected addresses. Law enforcement is now actively involved in the investigation.
Renowned crypto security researcher ZachXBT broke the news to the internet, revealing that the stolen XRP funds were laundered through various crypto exchanges and platforms like Binance and Kraken. Representatives have confirmed awareness of the incident and are actively cooperating with the investigation.
This breach has left some XRP holders concerned for the safety of their own funds, calling for increased transparency. There is also a rising call for co-founders, including Larsen, to disclose their crypto wallets and XRP holdings.
As the investigation continues, the cryptocurrency community remains on high alert, aware of the growing threat of cybercriminals targeting high-profile figures within the industry. The Ripple hack serves as a reminder of the challenges faced by the crypto ecosystem and the constant need for enhanced security measures to protect digital assets from malicious actors.
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