XRP News: Chris Larsen’s $150M XRP Stolen in LastPass Breach

In a major twist in the cryptocurrency world, it has come to light that Ripple co-founder Chris Larsen lost approximately $150 million worth of XRP tokens due to a breach in the popular password manager LastPass. Here’s a detailed summary of the incident.

Ripple’s $707m Loss: Chris Larsen’s XRP Stolen Due to 2022 LastPass Breach

Documents released by U.S. law enforcement have revealed that Chris Larsen, co-founder of Ripple, fell victim to a cryptocurrency theft in January 2024. Approximately 283 million XRP, valued at around $150 million at the time, were stolen due to compromised private keys stored in the password manager LastPass, which had suffered a major data breach in 2022. The findings are a result of investigations by ZachXBT. Larsen acknowledged the attack in 2024, stating that there was unauthorized access to a few of his personal XRP accounts. Law enforcement was quickly involved, and exchanges were notified to freeze the affected addresses.

Ripple Co-Founder’s $150M Hack Tied to LastPass Breach

A forfeiture complaint by blockchain detective ZachXBT revealed that Ripple co-founder Chris Larsen lost $150 million due to a hack. The complaint details how attackers accessed Larsen’s cryptocurrency wallets through stolen vault data from LastPass, which was compromised in two major data breaches in August and November 2022. Larsen stored private keys in LastPass’ password vault, which also contained secure notes, banking information, and other credentials.

Ripple Co-Founder Chris Larsen Loses $150M in LastPass Hack

Chris Larsen, the co-founder of Ripple, lost approximately $150 million worth of XRP in January 2024 due to a security breach of LastPass, a popular password management system. The private keys stored in LastPass were compromised, leading to unauthorized access to Larsen’s personal XRP accounts. Stolen XRP was moved to exchanges, but portions were frozen by law enforcement. Larsen clarified that the hack only affected his personal XRP accounts.

XRP Price Bulls Eye $3, Can Momentum Spark A Parabolic Rally

XRP price has surpassed $2.60, marking a 16% weekly increase and boosting market sentiment. Analysts are watching as the asset tests resistance points toward a potential breakout. A confirmed breakout could drive prices toward $3.05. XRP is benefiting from Bitcoin’s continued recovery, attracting more investors and attention. The asset has reclaimed its consolidation phase and is now testing the top trendline.