Sophisticated Inside Job Suspected in Ripple Co-Founder Wallet Hack

Investigation Insights

Hacken, a reputable cybersecurity firm, has identified signs of possible insider involvement in the theft of Ripple co-founder Chris Larsen's personal wallets. The heist resulted in the loss of 213 million XRP, valued at approximately $112.5 million. Hacken's probe revealed a concertedly managed breach lasting over 11 hours.

Tracing the Theft

Dmytro Yasmanovych from Hacken shared that an array of transactions linked to Ripple's infrastructure raised suspicions. Several wallets, including one that conducted a notable $64 million transaction, appear interconnected with a history suggesting prior relationships with Ripple's authorized wallets. Hacken's detective work culminated in pinpointing crucial wallets used in the theft.

Community Response

The crypto community, led by Binance's CEO, took action to immobilize a fraction of the stolen assets, freezing $4.2 million worth of XRP. Despite the intricacies uncovered, Hacken cautiously refrains from direct accusations as the investigation into this elaborate scheme continues, with XRP's market price currently standing at $0.51.