Chris Larsen, one of the co-founders of Ripple, the San Francisco-based blockchain company, has confirmed an unauthorized breach into several of his personal XRP accounts.
Upon swift detection of the issue, immediate actions were taken, including alerting exchanges to freeze the affected addresses. Law enforcement agencies are actively involved in investigating this security breach.
An independent cryptocurrency investigator, ZachXBT, reported that the hack resulted in the theft of approximately 213 million XRP, equivalent to around $112.5 million. The stolen funds were reportedly laundered through several exchanges, including MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC.
The revelation of this security breach had an immediate impact on the market value of XRP, causing the cryptocurrency’s price to drop by over 5%. Despite the initial setback, XRP demonstrated resilience, managing to recover some of its losses shortly after. As of the latest update, XRP is trading at $0.5047, reflecting a 3.8% decrease.