Cryptocurrency

Richard

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 Cover image via <a href="https://u.today/">U.Today</a>
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In response to a recent security exploit involving Ripple co-founder Chris Larsen, Binance, one of the world's leading cryptocurrency exchanges, has <a href="https://twitter.com/_RichardTeng/status/1753100751713517903">frozen</a> stolen XRP tokens valued at around $4.2 million.
This decisive action was part of a larger collaborative effort between the crypto community and Ripple to address the breach quickly and effectively, according to Binance CEO Richard Teng.&nbsp;
<h2 id="ongoing-support-and-vigilance">Ongoing support and vigilance&nbsp;</h2>
Binance has committed to continuing its support for <a href="https://u.today/breaking-ripple-co-founder-confirms-hack-xrp-price-plunges">Ripple</a> during the investigation and recovery process.&nbsp;
This includes closely monitoring for any activity involving the stolen funds, particularly tracking any deposits made to Binance from the exploiter's external wallets.&nbsp;
This vigilant approach is part of Binance's broader commitment to maintaining a safe and secure ecosystem for cryptocurrency transactions, according to Teng.&nbsp;
By encouraging open communication and collaboration among projects and users, Binance aims to reinforce industry-wide security measures and respond effectively to similar incidents in the future.
<h2 id="this-year-s-biggest-hack-so-far">This year's biggest hack so far &nbsp;</h2>
As reported by U.Today, Larsen took to X to <a href="https://u.today/breaking-ripple-co-founder-confirms-hack-xrp-price-plunges">confirm</a> unauthorized access to several of his personal XRP accounts on Wednesday.&nbsp;
The stolen funds were reportedly laundered through various exchanges, triggering a more than 5% drop in XRP's market value. Despite this, the market displayed resilience, with XRP recovering some of its losses soon after.&nbsp;
Ripple CEO Brad Garlinghouse addressed the community, clarifying that no Ripple-managed wallets were compromised and emphasizing the security of Ripple's infrastructure.&nbsp;
This is the largest cryptocurrency theft of the year so far. It led to a substantial theft of around 213 million XRP.&nbsp;

Stolen XRP Tokens Frozen by Binance: What's Next?

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