Ripple’s chairman Chris Larsen hacked for reported 213M XRP worth approximately $112.5M


Ripple’s Chairman, Chris Larsen, said on Jan.31 that his personal accounts were hacked. The news was first reported by crypto analyst “ZachXBT,” where it was initially thought that company itself had been hacked. 

According to Larsen:

“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. Law enforcement is already involved.

The Ripple chairman didn’t confirm the amounts but, per ZachXBT, the breach netted 213 million XRP worth about $112.5 million as of the time of the event.

News of the hack spread quickly; the price of XRP subsequently dipped by about $0.01, but it rebounded quickly and remains near flat nearly an hour after the hack was initially reported.

Image source: CoinMarketCap

This is a developing story, and further information will be added as it becomes available.