ZachXBT tracks over $100m in XRP sent to exchanges by Chris Larsen

The ZachxBT channel investigator reported that Ripple had been compromised for around 213 million XRP, estimated at around $ 112.5 million.

In a Recent article on xZachxbt reported a suspicious undulation (Xrp) Transfers worth around $ 112.5 million, which were sent to trade from a portfolio that would have been activated by Chris Larsen, co-founder and executive president of Ripple. Zachxbt discovered that the stolen funds had been channeled through Gate, Binance, Kraken, OKX, HTX, HitBTC and Mexc. In all, 8 addresses have been identified as being involved in the alleged flight. Before articles X of Zachxbt, Ripple Labs and Larsen had made no public statement on the attack.

In answerChris Larsen said it was his staff Ripple accounts which had been compromised, not the assets of the Ripple company. In an article on X, he reassured his supporters that they were able to quickly identify the violation and contacted the exchanges to freeze the affected addresses.

Larsen later follow up Stressing that the breach was an “isolated incident” and that Ripple’s portfolios have never been compromised. He confirmed that almost all stolen funds had been converted from XRP and noted that a large part had already been frozen. Larsen also mentioned that the efforts to recover the remaining funds were underway, the police are actively involved in the process.

To put this incident in perspective, these transfers occur in the middle of a strong XRP price performance, with XRP closing above $ 3 for 15 consecutive days, from January 15 to January 30, according to Co Ringecko. At the time of writing this document, XRP is negotiated at $ 3.09, just 9% of its summit of $ 3.40, which was set on January 7, 2018.