$113 million stolen as Ripple (Xrp) gets hacked

Amidst news of Ripple becoming an exchange traded fund (ETF) ,Ripple gets hacked of it’s token worth 112.5 million dollars

In effect to this situation,Ripple token (Xrp) market priced dropped 5%,with a fall in price down to 49 cents and an increase in the trading volume of over 85%.This sparked a suspicious IQ on the mind of Xrp traders towards the hack.

On-chain sleuth ,ZachXBT reveals that 213 million Xrp tokens were transfered to many addresses of Centralized exchanges including Binance, Gate, HTX, HitBTC, Kraken, and OKX,

LIVE CRYPTO RATES FOR TODAY

Name Price24H (%)
Bitcoin(BTC)
$66,742.73
0.12%
Ethereum(ETH)
$3,236.53
0.98%
XRP(XRP)
$0.55
1.46%
Cardano(ADA)
$0.51
-2.08%
Bitcoin Cash(BCH)
$511.71
-0.43%
Litecoin(LTC)
$85.26
-0.57%
Monero(XMR)
$123.02
0.17%
IOTA(IOTA)
$0.245034
0.56%
NEM(XEM)
$0.041429
1.37%
Dash(DASH)
$31.52
0.24%

Affirming the attack, Co-founder at Ripple ,chairman Chris Larsen, later alarmed on some unauthorized access on his personal Xrp accounts.

According to chairman Chris Larsen, this attempt wasn’t controlled by the company and all exchanges has been alerted of a supposed hack.

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Many controversies have been raised over this hack as many can’t seems to believe it’s a hack and suspects its an insider dumping .

On doubting the hack claim, Social media observers lamented over the Co-founder of ripple announcing the hack only after been reported publicly by ZachXBT.

Still on the doubt of been a hack, founder of the web3 security ,polyzoa, raised some points to prove the doubt.

Stating that the transaction was delayed for a 10 hours period ,proving that it was a manual operation rather than auto smart contract.

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“The dumbest hacker would never send to CEXes and wait 10+ hours to withdraw funds.”

 

See also  Highlights From Miami Blockchain Conference 2018
Updated: January 31, 2024 — 6:49 pm

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