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ZachXBT analyst discovered $105 million Ripple hack

Altcoins: ZachXBT analyst discovered $105 million Ripple hack

The Ripple platform suffered a security breach that resulted in an estimated loss of 213 million XRP (equivalent to ~$108 million).

This information was disclosed by a cryptocurrency specialist known by the nickname ZachXBT.

In addition, #ZachXBT revealed the address of the potential hacker. If the platform was indeed attacked, the hacker allegedly transferred funds to various #wallets, effectively laundering money through platforms such as MEXC, Gate, Binance, Kraken, OKX, HTX and HitBTC.

Following this news, the value of XRP fell by more than 3%. The asset is currently trading at $0.51. At its lowest point, the value reached $0.49.

In December 2023, a fake video featuring #Ripple Labs CEO Brad Garlinghouse circulated online, encouraging people to send XRP to a fraudulent address.

Subsequently, Chris Larsen, co-founder of Ripple Labs, commented on the situation. He revealed that his personal accounts were hacked on January 30, 2024. However, the problem was promptly identified and he has already asked exchanges to freeze addresses.

Larsen emphasized that law enforcement agencies have already become involved in the case.

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