Chris Larsen’s XRP theft linked to 2022 LastPass breach

The documents published by the American police have revealed that Chris Larsen, co-founder of Ripple, was the victim of a cryptocurrency flight in January 2024 due to LastPass failures.

About 283 million XRP (Xrp), valued at around $ 150 million at the time, were stolen due to private compromise keys stored in the Lastpass password manager, which had undergone a major data violation in 2022.

All these results are the result of surveys by zachxbt. Chris Larsen is best known for having co-founded Ripple Labs in 2012. Larsen recognized the attack in 2024.

LASTPASS 2022 data violation

Lastpass is a widely used password manager designed to store and safely manage user passwords and private information. In 2022, Lastpass experienced security incidents.

In August of the same year, unauthorized access To the parties of their development environment have led to theft of source code and technical information.

Subsequently, in November 2022, the attackers Information used From the previous violation to access customer data stored with a third -party cloud storage service.

This violation has exposed both unacypted data, such as website URLs, and encrypted data, including user names and passwords. The security of encrypted data depended on the strength of the master passwords of individual users.

Larsen XRP holdings were stolen

The recently unchanged confiscation trial documents indicate that Larsen had stored the private keys to his cryptocurrency portfolio on Lastpass, by Zachxbt. Following its standard security protocol, the physical recordings of these keys were destroyed after having entered the password manager.

The violations of 2022 Lastpass compromised the encrypted passwords, and the data of the safe were then used to illegally access the electronic accounts of several victims, including Larsen.

This unauthorized access led to theft of around 283 million XRP of the Larsen portfolio in January 2024.

Today, this XRP was worth more than $ 707 million.