ZachXBT

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<p>Ripple CEO Brad Garlinghouse took to X to <a href="https://twitter.com/bgarlinghouse/status/1752742971005665780">address</a> what he termed "irresponsible speculation and reporting" regarding the security of Ripple-managed wallets.&nbsp;</p>
<p>In a definitive statement, Garlinghouse clarified, "NO Ripple-managed wallets were compromised. Full stop."&nbsp;</p>
<p>This response came after Ripple's co-founder Chris Larsen confirmed a security breach involving his personal XRP accounts. Larsen emphasized that the incident was isolated and did not impact Ripple wallets, which he assured remain secure.</p>
<h2 id="conflicting-reports-and-market-impact">Conflicting reports and market impact&nbsp;</h2>
<p>As <a href="https://u.today/breaking-ripple-co-founder-confirms-hack-xrp-price-plunges">reported by U.Today</a>, Larsen confirmed a security breach involving unauthorized access to several of his personal XRP accounts.&nbsp;</p>
<p>This came after independent cryptocurrency investigator ZachXBT reported the theft of roughly $112.5 million worth of XRP.&nbsp;</p>
<p>Following these events, XRP's trading price experienced a notable decline. In an effort to mitigate misinformation, a community note on the social platform X was issued. The message clarified that Ripple's infrastructure was not compromised and that the security breach pertained solely to Larsen's personal holdings. &nbsp;</p>
<p>Yet, ZachXBT called attention to the misattribution of Larsen's compromised account as belonging to Ripple in XRP block explorers. He also noted the omission of Larsen's role as co-founder and executive chairman of Ripple in the community note.</p>
<h2 id="the-largest-hack-of-2024">The largest hack of 2024</h2>
<p>The hack has resulted in the largest theft of cryptocurrency of the year so far. Last year, the crypto world witnessed around $2 billion worth of cryptocurrency stolen across various hacks, according to numerous crypto security firms.</p>

Ripple CEO Slams "Irresponsible Speculation" About Hack

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