Secure

ZachXBT

Security

<p>The post <a href="https://coinpedia.org/news/ripple-ceo-brad-garlinghouse-addresses-112m-xrp-hack-ripples-infrastructure-remains-secure/">Ripple News: CEO Assures System Security Post $112M XRP Hack</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ripple, a leading blockchain payment protocol, is grappling with the aftermath of a significant security breach. In a massive shocker to all, over 213 million <a href="https://coinpedia.org/price-prediction/xrp-ripple-price-prediction/">XRP</a> tokens, valued at a staggering $112 million, have been stolen, sending shockwaves through the cryptocurrency community.</p> 
<h3 class="wp-block-heading" id="h-security-breach-details"><strong>Security Breach Details</strong></h3> 
<p>ZachXBT, a decentralized finance investigator, brought attention to the alarming news of a potential exploit within the Ripple protocol. About 213 million XRP, worth $112.5 million, fell victim to this security breach. The stolen funds quietly moved through various cryptocurrency exchanges, including MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC, and others.</p> 
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   <p lang="en" dir="ltr">It appears <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> was hacked for ~213M XRP ($112.5M)<br><br>Source address<br>rJNLz3A1qPKfWCtJLPhmMZAfBkutC2Qojm<br><br>So far the stolen funds have been laundered through MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC, etc <a href="https://t.co/HKGYsLQeMv">pic.twitter.com/HKGYsLQeMv</a></p>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1752694489905528943?ref_src=twsrc%5Etfw">January 31, 2024</a>
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<p>The revelation of the security breach triggered an immediate market response, with a 5% drop in the value of XRP within the first 24 hours. The cryptocurrency tumbled to $0.4853, causing concern among investors and enthusiasts.</p> 
<p>Read More About It Here: <a href="https://coinpedia.org/news/ripple-news-inside-the-112-million-xrp-hack-what-happened-to-chris-larsens-account/">Ripple News: Inside the $112 Million XRP Hack; What Happened to Chris Larsen’s Account?</a></p> 
<h2 class="wp-block-heading" id="h-here-s-the-assurance-you-need">Here’s the Assurance You Need!</h2> 
<p>Ripple co-founder Chris Larsen issued a statement confirming the unauthorized access. Larsen clarified that the breach was an “<a href="https://x.com/chrislarsensf/status/1752742706462523882?s=20">isolated incident</a>”, limited to a few of his personal XRP accounts and reassured that Ripple’s core infrastructure remained secure.</p> 
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   <p lang="en" dir="ltr">This is an isolated incident, and Ripple wallets are secure / were never compromised. We’ve confirmed nearly all the affected funds were converted out of XRP.<br><br>We’re working with law enforcement and have been advised that a significant portion of funds have been frozen, and are…</p>— Chris Larsen (@chrislarsensf) <a href="https://twitter.com/chrislarsensf/status/1752742706462523882?ref_src=twsrc%5Etfw">January 31, 2024</a>
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<p>He emphasized that Ripple’s core infrastructure remains secure, with law enforcement agencies actively engaged in resolving the matter. The response provided stability, leading to a recovery as XRP rebounded to $0.5085, marking a 3.4% decrease in the past 24 hours.</p> 
<h2 class="wp-block-heading" id="h-no-compromised-wallets">No Compromised Wallets</h2> 
<p>Following Chris Larsen, Ripple CEO <a href="https://x.com/bgarlinghouse/status/1752742971005665780?s=20">Brad Garlinghouse</a> provided some much needed reassurance to the XRP community.</p> 
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   <p lang="en" dir="ltr">Given some irresponsible speculation and reporting, I want to reiterate that NO Ripple-managed wallets were compromised. Full stop. <a href="https://t.co/zxVeCH1Ut0">https://t.co/zxVeCH1Ut0</a></p>— Brad Garlinghouse (@bgarlinghouse) <a href="https://twitter.com/bgarlinghouse/status/1752742971005665780?ref_src=twsrc%5Etfw">January 31, 2024</a>
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<p>As the situation evolves, the XRP community awaits the outcome of the <a href="https://coinpedia.org/news/decoding-ripples-win-in-sec-lawsuit-xrp-advocate-points-to-critical-factor/">SEC’s Motion to Compel </a>court ruling, recognizing its potential impact on buyer demand for XRP. Ripple’s leadership remains committed to security, but incidents like this could severely shake user confidence.</p> 
<p>Read More: <a href="https://coinpedia.org/news/nearly-40-million-lost-to-crypto-hacks-in-the-first-month-a-bad-start-to-the-year/">A Detailed Look at 5 Biggest Crypto Hacks of 2024 (So Far)</a></p>

Ripple News: CEO Assures System Security Post $112M XRP Hack

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