Ripple’s XRP Faces Downward Pressure Amidst Speculation of 112 Million Dollars Security Incident

Crypto News- JUST IN: Rumors are circulating that #Ripple has been hacked for approximately 213 million $XRP ($112.5 million).

The alleged stolen XRP appears to be have been laundered through MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC, etc.

In a startling sequence of events, the XRP token from Ripple faced a significant downturn, witnessing a sharp decline of more than 5% in its market value. This abrupt plunge was triggered by unsettling reports circulating within the cryptocurrency community, pointing towards a potential hack with a jaw-dropping sum of $112.5 million at stake. The crypto-sleuth extraordinaire, ZachXBT, took to the digital agora of X (formerly Twitter), amplifying the sense of unease by revealing a disconcerting narrative.

Ripple Co-Founder and Executive Chairman Chris Larsen:

“Yesterday, there was unauthorized access to some of my personal $XRP accounts. We were able to quickly identify the issue and have notified exchanges to freeze the affected addresses. Law enforcement is already involved in the matter.”

Ripple’s XRP Faces Downward Pressure Amidst Speculation of 112 Million Dollars Security Incident

According to ZachXBT’s findings, a colossal 213 million XRP tokens allegedly found their way out of a singular wallet, raising concerns about the security and resilience of cryptocurrency infrastructures. Adding a layer of intrigue to the already complex story, it was asserted that the ill-gotten gains underwent a sophisticated laundering process. The digital miscreants purportedly navigated through the intricate channels of various prominent cryptocurrency exchanges, including notable platforms like Binance, Kraken, and OKX.