Ripple co-founder and government chairman Chris Larsen misplaced over $661 million price of XRP final yr, reportedly because of a hack of password supervisor LastPass.
In his Telegram channel, on-chain investigator ZachXBT shares a screenshot of a forfeiture grievance filed by federal prosecutors that particulars how Larsen’s pockets was compromised by a LastPass hack that occurred in 2022.
Says ZachXBT,
“A forfeiture grievance 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 thus 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 could 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 accordance with 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 attainable he misplaced entry or despatched funds to different individuals in Feb 2013)…”
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