Hackers Drain $112M in XRP Tokens From Ripple Co-Founder's Wallet

Ripple’s executive chairman, Chris Larsen, confirmed reports from blockchain analyst that XRP wallets had been raided.

By: Pedro Solimano Loading...

image depicting hackers stealing XRP

Malicious actors gained access to several of Ripple Co-Founder Chris Larsen’s personal XRP accounts, draining 213M tokens worth $112.5M.

“Yesterday, there was unauthorized access to a few of my personal XRP accounts (not Ripple),” wrote Larsen early Wednesday. “We were quickly able to catch the problem and notify exchanges to freeze the affected addresses,” he said.

Law enforcement is alreayd involved, Larsen said.

Reports of the funds drained surfaced from blockchain analyst ZachXBT’s Twitter account.

According to ZachXBT, the funds stolen were laundered through multiple exchanges, including Binance, Kraken, OKX, and MEXC.

Ripple’s XRP token has dropped 4.2% today, trading for $0.50, according to Coingecko.