Putting all hack rumors to rest, Ripple’s top brass clarified that all users’ wallets are secure and were never compromised. Crypto enthusiasts were rattled when blockchain investigator Zachxbt claimed a massive hack, alleging the theft of 213 million XRP tokens worth over $100 million. Shockingly, the stolen funds were reportedly laundered through prominent crypto exchanges like MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC, among others.
Co-founder Chris Larsen clarified that while unauthorized access occurred in his personal XRP accounts, the integrity of Ripple’s infrastructure remained intact. Exchanges and law enforcement have been informed, emphasizing the secure status of Ripple-managed wallets. CEO Brad Garlinghouse condemned media sensationalism, vehemently asserting, “No Ripple-managed wallets were compromised. Full stop.”
This is an isolated incident, and Ripple wallets are secure / were never compromised. We’ve confirmed nearly all the affected funds were converted out of XRP. We’re working with law enforcement and have been advised that a significant portion of funds have been frozen, and are pursuing the remainder aggressively. Many thanks to XRPLF Silkjaer for their help.
However, concerns were raised about the handling of the situation, with some users urging greater transparency from the firm. Questions were raised about the authenticity of Chris Larsen’s claims, prompting demands for clarity on the control of Genesis-funded addresses.
In a subsequent development, Zachxbt added a note highlighting that the rJNLz3A account, attributed to Ripple, was tagged in XRPScan and Bithomp [XRP block explorers] as the entity representing the company. This revelation brought attention to the omission in the community note regarding Chris Larsen’s role as the co-founder and executive chairman of Ripple.
Amidst the turmoil, there were reports that the wallet linked to the alleged $112.5 million hack was an individual’s account, not an official one. Garlinghouse promised official comments soon to address the developing situation.
Ripple Scams
Simultaneously, social media platforms have been flooded with fraudulent ads promising an XRP “airdrop.” Featuring fabricated statements from Ripple CEO Brad Garlinghouse, these scams exploit AI to deceive users into sending XRP to a designated wallet under the pretense of receiving free tokens.
The deceptive ads, saturating platforms like YouTube and X, use sophisticated AI [deepfake] to mimic Garlinghouse’s speech, though minute inconsistencies in lip movements betray their fraudulent nature. Users are strongly advised to exercise caution, scrutinize information, and verify the authenticity of cryptocurrency-related claims to avoid falling victim to scams.