coinspress.com
In a recent development, Chris Larson, the co-founder and executive chairman of Ripple, reportedly faced a significant loss of around $112 million in XRP due to a security breach.
This information was disclosed through a tweet by the well-known cryptocurrency analyst ZachXBT.
As per ZachXBT’s announcement on Wednesday, the breach resulted in the unauthorized transfer of around 213 million XRP, valued at approximately $112 million, from one of Ripple’s wallets.
Notably, the perpetrators have initiated the process of laundering the stolen assets through prominent centralized cryptocurrency exchanges such as Binance and Kraken.
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Acknowledging the security incident, Chris Larson confirmed that the compromised wallets were personally owned by him and not linked to the organization itself, as detailed in ZachXBT’s report.
Yesterday, there was unauthorized access to a few of my personal XRP accounts (not @Ripple) – we were quickly able to catch the problem and notify exchanges to freeze the affected addresses. Law enforcement is already involved. https://t.co/T3HtKSlzLg
— Chris Larsen (@chrislarsensf) January 31, 2024
In response to the breach, Larson and his team promptly informed relevant exchanges to freeze the affected addresses, and law enforcement has been engaged to address the situation.