Ripple reportedly hacked for $112 million, XRP price down 5%

Ripple, the company behind cryptocurrency coin XRP, has reportedly been hacked with over 213 million XRP worth $112 million stolen.

In a post on X on Wednesday, on-chain sleuth ZachXBT noted that the stolen crypto has been laundered via a number of centralized exchanges. These include MEXC, Gate, Binance, Kraken, and OKX.

It appears @Ripple was hacked for ~213M XRP ($112.5M)

Source address
rJNLz3A1qPKfWCtJLPhmMZAfBkutC2Qojm

So far the stolen funds have been laundered through MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC, etc pic.twitter.com/HKGYsLQeMv
— ZachXBT (@zachxbt) January 31, 2024

At the time of writing, the price of XRP has fallen more than 5% in the past 24 hours amid the news, trading at $0.49.

Update:

Chris Larsen, co-founder and chairman of Ripple, says law enforcement are "already involved." He notes that there had been unauthorised access to his personal XRP accounts on January 30.

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. https://t.co/T3HtKSlzLg
— Chris Larsen (@chrislarsensf) January 31, 2024

This is a developing story.

Ripple reportedly hacked for $112 million, XRP price down 5%

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