Ripple co-founder and executive chairman Chris Larsen lost over $661 million worth of XRP last year, reportedly due to a hack of password manager LastPass.
In his Telegram channel, on-chain investigator ZachXBT shares a screenshot of a forfeiture complaint filed by federal prosecutors that details how Larsen’s wallet was compromised by a LastPass hack that occurred in 2022.
Says ZachXBT,
“A forfeiture complaint filed yesterday by US law enforcement revealed the cause for the 283 million XRP hack of Ripple co-founder, Chris Larsen’s wallet in January 2024 was the result of storing private keys in LastPass (password manager which was hacked in 2022).
Up to this point, Chris Larsen had not publicly disclosed the cause of the theft.”
Larsen originally acknowledged the hack in February of 2024, specifying that it targeted his personal wallets and not Ripple’s company addresses.
The stolen XRP would be worth $661.6 million at today’s prices.
Despite the massive hack, Larsen still holds roughly $7.18 billion worth of XRP after sending over $100 million worth of the altcoin to crypto exchanges in January alone while the token was rallying, according to ZachXBT.
“With the announcement of the US Crypto Reserve here’s your reminder that XRP addresses activated by Chris Larsen (co-founder of Ripple) still hold 2.7 billion+ XRP and these addresses tied to him transferred $109 million+ worth of XRP to exchanges in January 2025…
(Disclaimer: multiple of these addresses have been dormant for six to seven years so it’s possible he lost access or sent funds to other people in Feb 2013)…”
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