Ripple Exec Chris Larsen’s XRP Accounts Illicitly Accessed, Crypto Exchanges Freeze Assets

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On Wednesday, Chris Larsen, the co-founder and executive chairman of Ripple, publicly revealed that several of his personal xrp accounts had been illicitly accessed. Larsen explained that the team successfully persuaded crypto exchanges to promptly freeze the affected addresses.

$112.5 Million Transferred From Chris Larsen’s Accounts

In the realm of social media, specifically within the X community, there is a growing fervor surrounding a substantial transfer of XRP from Chris Larsen’s XRP accounts. The initial revelation came from onchain analyst Zachxbt, who swiftly shared the information, stating, “It appears Ripple was hacked for ~213M XRP ($112.5M).” This development ignited a wave of intense speculation and discussion across various social media platforms.

Larsen addressed the situation on X and said that his personal xrp accounts were affected. “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,” Larsen said. “Law enforcement is already involved,” the Ripple executive added.

XRP initially dropped 5% on the news against the U.S. dollar and 24-hour statistics as of 10:40 p.m. Eastern Time, show XRP is down 3.5%. Of course, many speculators are wondering what happened with Larsen’s account and how the actors were able to access 213 million XRP from his stash. As of right now, it is a compelling mystery until more answers come out.

What do you think about the Ripple exec’s xrp stash being pilfered? Let us know what you think about this subject in the comments section below.