Token

Richard

Million

<p><span style="font-weight: 400;">Binance froze $4.2 million worth of XRP from the $112 million hack on Ripple co-founder Chris Larsen’s personal wallet, but a tweeted </span><a href="https://twitter.com/_RichardTeng/status/1753100751713517903" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">comment</span></a><span style="font-weight: 400;">&nbsp;from Binance CEO Richard Teng seems to have annoyed the Ripple team.</span></p>
<p><span style="font-weight: 400;">Teng said in a Feb. 1 X </span><a href="https://twitter.com/_RichardTeng/status/1753100751713517903" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">post</span></a><span style="font-weight: 400;"> that the exchange froze the $4.2 million worth of XRP stolen by the exploiter after Binance found “out early on about the exploit that occurred at Ripple.”</span></p>
<p><span style="font-weight: 400;">“This tweet is a bit ambiguous,” <a href="https://twitter.com/Silkjaer/status/1753149650205381112?s=20" rel="noopener noreferrer nofollow">replied</a></span><span style="font-weight: 400;"> Thomas Silkjær, the head of analytics and compliance at the XRP Ledger Foundation. “<span class="css-1qaijid r-bcqeeo r-qvutc0 r-poiln3">The compromised accounts are personal accounts of </span></span><a class="css-1qaijid r-bcqeeo r-qvutc0 r-poiln3 r-1loqt21" dir="ltr" style="background-color: var(--bs-body-bg); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);" role="link" href="https://twitter.com/chrislarsensf" rel="noopener noreferrer nofollow">@chrislarsensf </a><span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); text-align: var(--bs-body-text-align);">– not an exploit at </span><span class="r-18u37iz"><a class="css-1qaijid r-bcqeeo r-qvutc0 r-poiln3 r-1loqt21" dir="ltr" role="link" href="https://twitter.com/Ripple" rel="noopener noreferrer nofollow">@Ripple.”</a></span></p>
<h2 id="span-style-font-weight-400-ripple-exec-gives-insights-into-the-hack-span"><span style="font-weight: 400;">Ripple Exec Gives Insights Into The Hack</span></h2>
<p><span class="css-1qaijid r-bcqeeo r-qvutc0 r-poiln3">And while Teng praised&nbsp;</span><span class="r-18u37iz"><a class="css-1qaijid r-bcqeeo r-qvutc0 r-poiln3 r-1loqt21" dir="ltr" role="link" href="https://twitter.com/zachxbt" rel="noopener noreferrer nofollow">@zachxbt</a>&nbsp;</span><span class="css-1qaijid r-bcqeeo r-qvutc0 r-poiln3">for doing “a great job” in spotting the hack, <span style="font-weight: 400;">Silkjær was less impressed.</span></span></p>
<p><span class="css-1qaijid r-bcqeeo r-qvutc0 r-poiln3">“The initial investigation was done by </span><span class="r-18u37iz"><a class="css-1qaijid r-bcqeeo r-qvutc0 r-poiln3 r-1loqt21" dir="ltr" role="link" href="https://twitter.com/XRPLF" rel="noopener noreferrer nofollow">@XRPLF</a> </span><span style="background-color: var(--bs-body-bg); color: var(--bs-body-color); font-family: var(--bs-body-font-family); font-size: var(--bs-body-font-size); font-weight: var(--bs-body-font-weight); text-align: var(--bs-body-text-align);">and initiated as it was happening – not carelessly published on social media the day after like&nbsp;</span><span class="r-18u37iz"><a class="css-1qaijid r-bcqeeo r-qvutc0 r-poiln3 r-1loqt21" dir="ltr" role="link" href="https://twitter.com/zachxbt" rel="noopener noreferrer nofollow">@zachxbt,”</a></span>&nbsp;he said</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">It appears <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Ripple</a> was hacked for ~213M XRP ($112.5M)</p>
 <p>Source address<br>rJNLz3A1qPKfWCtJLPhmMZAfBkutC2Qojm</p>
 <p>So far the stolen funds have been laundered through MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC, etc <a href="https://t.co/HKGYsLQeMv" rel="noopener noreferrer nofollow">pic.twitter.com/HKGYsLQeMv</a></p>
 <p>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1752694489905528943?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 31, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">Initial speculation claimed that Ripple itself was hacked and the network’s XRP token was also compromised. This caused the price of the remittance token to </span><a href="https://insidebitcoins.com/news/ripple-chairman-chris-larsen-hacked-for-xrp-worth-reported-112-3-million" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">plummet 5%</span></a><span style="font-weight: 400;"> in just an hour after ZachXBT’s post.&nbsp;</span></p>
<h2 id="span-style-font-weight-400-xrp-unable-to-recover-from-token-dump-span"><span style="font-weight: 400;">XRP Unable To Recover From Token Dump</span></h2>
<p><span style="font-weight: 400;">Larsen tried to put the XRP community at ease by <a href="https://twitter.com/chrislarsensf/status/1752702297971532258" rel="noopener noreferrer nofollow">posting</a>&nbsp;that the hack had nothing to do with Ripple itself. He explained that the stolen 213 million XRP were the result of someone gaining unauthorized access to his personal accounts. </span></p>
<p><span style="font-weight: 400;">Binance was one of multiple exchanges that the hacker sent the stolen funds to. Other platforms included Kraken, Gate.io, HTX, MEXC and HitBTC. </span></p>
<p><span style="font-weight: 400;">While Binance has frozen the XRP sent to its platform, exchanges like OKX and Kraken have yet to reveal whether they identified the hacker’s transfers or frozen any funds associated with the hack.</span></p>
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Binance Freezes $4.2 Million From Chris Larsen Hack, But Exchange CEO Richard Teng Still Irks Ripple With ”Ambiguous” Tweet

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