Binance has frozen $4.2 million worth of XRP tokens following a major hack earlier this week, in which $120 million worth of XRP was stolen from the wallet of Ripple Labs’ executive chairman, Chris Larsen.
Actions taken by XRP Ledger developers
Richard Teng, CEO of Binance, mentioned in a post on X that the XRP Ledger developers had alerted exchanges and requested to monitor deposits related to the hacker’s wallets. “We will continue to support Ripple in their investigations and efforts to recover the funds, including closely monitoring the majority of funds still in the exploiter’s external wallets in case they are deposited on Binance,” said Teng.
Wallet security and ongoing investigations
The theft was confirmed to have come from Chris Larsen’s wallet. Larsen clarified that it was a breach of his “personal XRP accounts,” but not Ripple itself. According to blockchain detective ZachXBT, the 213 million XRP tokens were moved through several exchanges, including Binance, Kraken, and OKX.
