Ripple co-founder and govt chairman Chris Larsen misplaced over $661 million price of XRP final 12 months, reportedly as a consequence of a hack of password supervisor LastPass.
In his Telegram channel, on-chain investigator ZachXBT shares a screenshot of a forfeiture criticism filed by federal prosecutors that particulars how Larsen’s pockets was compromised by a LastPass hack that occurred in 2022.
Says ZachXBT,
“A forfeiture criticism filed yesterday by US legislation enforcement revealed the trigger for the 283 million XRP hack of Ripple co-founder, Chris Larsen’s pockets in January 2024 was the results of storing non-public keys in LastPass (password supervisor which was hacked in 2022).
Up so far, Chris Larsen had not publicly disclosed the reason for the theft.”
Larsen initially acknowledged the hack in February of 2024, specifying that it focused his private wallets and never Ripple’s firm addresses.
The stolen XRP can be price $661.6 million at immediately’s costs.
Regardless of the large hack, Larsen nonetheless holds roughly $7.18 billion price of XRP after sending over $100 million price of the altcoin to crypto exchanges in January alone whereas the token was rallying, in response to ZachXBT.
“With the announcement of the US Crypto Reserve right here’s your reminder that XRP addresses activated by Chris Larsen (co-founder of Ripple) nonetheless maintain 2.7 billion+ XRP and these addresses tied to him transferred $109 million+ price of XRP to exchanges in January 2025…
(Disclaimer: a number of of those addresses have been dormant for six to seven years so it’s potential he misplaced entry or despatched funds to different folks in Feb 2013)…”
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