In recent hours, a Ripple news story exploded onto the market. According to emerging reports, Ripple was hacked, but no wallets were endangered during this incident, as stated by Ripple’s renowned CEO Brad Garlinghouse.
Garlinghouse Comments on Ripple
A few hours ago, a massive attack on Ripple was reported, with the lost amount being 112.5 million dollars worth of XRP coins. Following the incident and the market-shaking news, a roughly 4% drop in XRP token price was observed.
According to a statement by ZachXBT, the initial attack occurred due to an address identified as “rJNLz3…ojm”.
After successfully carrying out the Ripple attack, the individuals involved launched a complex laundering operation. The stolen XRP was transferred to various exchanges, including MEXC and Binance, which is still the world’s largest exchange in terms of volume.
Such distribution processes generally aim to obscure the origin of the cryptocurrency, making tracking and recovery more difficult.
Following all these events, an official statement was released by Ripple’s co-founder and executive chairman Chris Larsen, highlighting the magnitude of the attack. In his statement, Larsen clarified that the wallet was his personal address and was not associated with Ripple Labs.
Larsen mentioned a series of initiatives, including cooperation with authorities and security forces, to mitigate the impact of the attack on Ripple. He also provided information about Ripple-owned wallets, assuring that they were safe and never compromised, thus easing the concerns of XRP investors.
It appears that Larsen’s statement has not dispelled the doubts in the minds of investors. Expressing his discomfort with the emerging claims and speculative reports, Garlinghouse supported Larsen’s statement by making the following announcement on platform X:
Considering some irresponsible speculations and reports, I want to reiterate that NO wallet managed by Ripple was compromised.
Warning Issued
It is quite evident that hackers are discovering different methods to carry out their illegal activities. A few weeks ago, a deepfake video of Ripple’s CEO caused a shockwave across the entire crypto market.
A fake video, not featuring Garlinghouse but produced to deceive, was used by hackers to convince people to send funds to their addresses, duping them into believing their XRP holdings would be doubled.
Fraudulent schemes are evolving day by day. In this context, it will be much healthier for investors and traders to be cautious on their behalf.
