Ripple co-founder Chris Larsen’s XRP wallet hacked for estimated $112 million

Ripple co-founder Chris Larsen revealed that his personal XRP accounts were hacked, resulting in an estimated loss of $112 million. The incident was described as an isolated incident, with Ripple’s wallets remaining secure and unaffected. Thomas Silkjær from the XRP Ledger Foundation provided additional information, stating that suspicious deposits were detected by the crypto exchange WhiteBit, prompting an investigation. While the exact amount stolen has not been confirmed by Larsen or any other Ripple-related individuals, it is believed to be approximately 213 million XRP. The stolen funds have reportedly been laundered through various exchanges. Speculation suggests that Larsen’s private keys may have been compromised, although no specific details regarding the hack have been provided. It’s worth noting that this incident draws attention to previous allegations made by the U.S. Security and Exchange Commission against Larsen and Ripple, which were dropped in 2023.