- Binance has frozen $4.2M XRP stolen from Chris Larsen’s account.
- Crypto sleuth ZachXBT had pointed out the exploit on social media.
Binance has frozen about $4.2 million worth of pilfered XRP in an attempt to assist Ripple in getting their money back.
In an official post on X, Binance CEO Richard Teng recognised the efforts of ZachXBT, the crypto detective who initially revealed the Ripple attack. Teng complimented Ripple for collaborating with other exchanges, like as Binance, and formally announced the platform’s decision to freeze the illicitly obtained funds.
“We will continue to support Ripple in their investigations and their efforts to retrieve back the funds, including closely monitoring the majority of funds still in the exploiter’s external wallets in case they deposit to Binance. Our team is firmly dedicated to supporting a safe ecosystem, so we always encourage projects and users to reach out to us in instances like this.”
Chris Larsen posted on X saying, “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 and @Silkjaer for their help.”
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
