The digital asset world was shaken on Wednesday when ZackXBT, a famous crypto detective, exposed a possible hack on Ripple co-founder Chris Larsen’s private XRP stash.
The hack’s cause and scope are still unknown, but early reports indicate that the hackers may have transferred a huge amount of XRP to major crypto exchanges.
This situation got worse when reports estimated that the stolen XRP, around 213 million tokens, could be worth more than $112 million at the current market rate. This could be one of the biggest crypto heists ever if it’s true.
Larsen himself tried to clear things up with a statement. He admitted that someone got into his personal XRP accounts without his permission and said he quickly worked with several big crypto exchanges to stop the hackers from using the addresses.
Also, he stressed that the hacked XRP was his own, not Ripple’s. But his words didn’t calm down the growing doubts and confusion. Many people on social media wondered why he had so much XRP in his personal accounts, while others doubted the sharp distinction between Larsen and Ripple, as he suggested in his statement.
“Totally completely separate entities wink wink,” ZachXBT joked in a sarcastic response to Larsen’s post on X (Twitter), echoing the common feeling of disbelief and questioning.
Totally completely separate entities
— ZachXBT (@zachxbt) January 31, 2024
*wink* *wink*
As the authorities look into the case, the Ripple community is waiting for more information and reassurance about the company’s security measures. The incident also brings up wider questions about how open and honest the big players in the crypto industry are about their holdings and whether they have any hidden agendas.
