112 Million Dollar Hack Allegation in Ripple! Price Dropped!

ZachXBT claimed that Ripple suffered a $112 million hack.

It appears @Ripple was hacked for ~213M XRP ($112.5M)

Source address
rJNLz3A1qPKfWCtJLPhmMZAfBkutC2Qojm

So far the stolen funds have been laundered through MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC, etc pic.twitter.com/HKGYsLQeMv

— ZachXBT (@zachxbt) January 31, 2024

Accordingly, while 213 million XRP was stolen, the attacker sent the XRPs to MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC exchanges and they were laundered through these exchanges.

After the news, XRP fell by up to 5%.

Ripple Co-Founder and Chief Executive Officer Chris Larsen made the following statement while confirming the hack:

“Yesterday, there was unauthorized access to several of my personal XRP (not Ripple) accounts; we were able to quickly identify the issue and notify the exchanges to freeze the affected addresses. Law enforcement is already involved.”

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

Chris Larsen also made the following statement:

This is an isolated incident and Ripple wallets are safe/have never been compromised. We confirmed that almost all of the affected funds were converted from XRP. We are working with law enforcement and have been informed that a significant portion of the funds have been frozen and the remainder is being aggressively pursued.

*This is not investment advice.