- Binance freezes $4.2 million in stolen XRP to aid Ripple.
- Crypto detective ZachXBT exposes $112.5 million XRP theft from Chris Larsen.
- Ripple confirms wallets secure, theft due to Larsen’s personal account breach.
The crypto community and XRP supporters have been stunned by the recent XRP
In an official statement on X, Binance’s CEO, Richard Teng, recognized the investigative efforts of cryptocurrency detective ZachXBT, who initially brought the Ripple breach to light. Teng commended Ripple for its cooperation with various exchanges, Binance among them. He declared, “Our team at Binance has successfully immobilized $4.2 million in XRP that the hacker had taken.”
ZachXBT disclosed a significant theft of XRP, initially suggesting an incident connected to the Ripple network. According to the investigator’s post on Twitter, approximately 213 million XRP, valued at $112.5 million, were stolen from Ripple. Nonetheless, Chris Larsen clarified that the substantial loss resulted from “unauthorized access” to his personal accounts.
Following those events, Ripple’s CEO, Brad Garlinghouse, confirmed that the Ripple wallets had not been “compromised.” In addition, Larsen backed up the CEO’s statements, confirming the security of the Ripple wallets.
Binance’s most recent action emphasizes its commitment to fostering a secure environment. As Teng affirmed, the exchange is resolute and devoted to assisting Ripple in resolving the issue.
We will continue to support Ripple in their investigations and their efforts to retrieve back the funds, including closely monitoring the majority of funds still in the exploiter’s external wallets in case they deposit to Binance.
The cryptocurrency community has observed Binance’s eagerness to aid struggling networks. In February 2023, the exchange helped Norwegian officials recover $6 million stolen from the Ronin network. Moreover, Binance has supported Huobi in combating the Harmony attackers, who took $2.4 million worth of BTC.
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