Ripple was not hacked for $112M XRP — but its co-founder was

ZachXBT flagged the outflows, which took place on Tuesday

share

An on-chain detective has flagged odd XRP outflows worth roughly $112 million from addresses linked to Ripple Labs.

ZachXBT, in a post on X Wednesday, said that Ripple seemed to have been hacked for 213 million XRP.

However, Ripple co-founder Chris Larsen responded that his Ripple accounts had been compromised, not Ripple itself.

Larsen said there had been “unauthorized access to a few of my personal XRP accounts.”

“We were quickly able to catch the problem and notify exchanges to freeze the affected addresses. Law enforcement is already involved,” he added.

Loading Tweet..

The stolen funds, ZachXBT found, were laundered through crypto exchanges including Gate, Binance, Kraken, OKX, HTX, HitBTC, and MEXC.

Loading Tweet..

He highlighted roughly 8 addresses tied to the alleged theft. 

Read more: Security review competition will offer a bounty of $1.2M

The timestamps for the transactions stand out, however, as they took place on Tuesday ranging from early on in the day to late Tuesday night. Ripple Labs or Larsen had not publicly disclosed the attack until ZachXBT’s posts on social media.

“The sheer number of [transactions] to exchanges in a short time span should tell you enough,” ZachXBT said in a follow up post. “Ripple team is not going to use a small instant exchange like FixedFloat in size.”

Following the post on X, XRP fell over 5%. It has since bounced back as of publication.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research

article-image

For just $54, you, too, could send a memecoin 500% higher

article-image

Memecoins, tech, and inflation have dominated the first half of the year

article-image

As the Trump administration continues to test Fed independence, markets are beginning to react

article-image

An Aave interest rate shock prompted over 475,000 validators to exit and pushed stETH into a prolonged depeg

article-image

While Roman Storm’s team is set to present its case, it’s not yet clear if the Tornado Cash founder will testify

article-image

A wireless network inspired by lost drones is now helping telco carriers reach your phone indoors