XRP FALLS 5% AFTER RIPPLE CO-FOUNDER’S WALLETS HACKED 

XRP’s price has plunged to approximately $0.5, and a major security breach has left Chris Larson, Ripple’s co-founder and executive chairman, at a loss of over $100 million in XRP, as reported by crypto analyst ZachXBT.

The breach, reported on Wednesday, saw hackers make off with roughly 213 million XRP, valued at around $112 million, from one of Ripple’s wallets. To make matters worse, the criminals have initiated a process to launder the stolen funds through prominent centralized crypto exchanges, including Binance and Kraken.

Ripple’s co-founder, Chris Larson, confirmed the hack and clarified that the affected wallets were his personal holdings, not the organization’s. Larson’s team promptly alerted exchanges to freeze the compromised addresses, and law enforcement has been brought into the investigation.

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