Recently, XRP experienced a significant hacking incident. Ripple is currently conducting an investigation into the incident. Binance CEO Richard Teng spoke highly of XRPL and the community’s efforts to address the recent XRP attack. Teng announced that the exchange froze $4.2 million worth of XRP in the hacker’s account.
Binance CEO evaluated the latest hack of XRPL
CEO Richard Teng praised the XRP Ledger Foundation’s rapid response to a recent security breach involving Ripple Labs Co-Founder Chris Larsen’s personal wallets. Teng also highlighted ZachXBT’s role in reporting the incident to exchanges. In this vein, he shed light on the crypto community’s efforts to handle the case. Thus, Teng also expressed his gratitude for Zach XBT. In this context, Teng made the following statement:
After learning early about the exploit occurring on Ripple, we are happy to say that the Binance team managed to freeze $4.2 Million worth of XRP stolen by the hacker. We appreciate both the community efforts to report this to the exchanges (as always, Zachxbt did a great job) and the Ripple team working collaboratively with us. We will continue to support Ripple in their investigation and efforts to recover funds. This includes closely monitoring most of the funds still in the abuser’s external wallets in case they are deposited to Binance.
Binance CEO also appreciated XRPL’s Head of Analytics and Compliance Thomas Silkjaer’s statement regarding the exploited wallets belonging to Chris Larsen, not Ripple. Binance CEO noted in a previous article that the leading crypto exchange managed to freeze $4.2 million worth of stolen XRP. Teng also expressed support for Ripple’s investigations and its commitment to closely monitoring the abuser’s external wallets. In addition, Teng stated:
Our team is dedicated to supporting a secure ecosystem. That’s why we always encourage projects and users to reach out to us in such cases.
What really happened in Ripple’s XRP hack?
cryptokoin.com As we reported earlier this week, Ripple suffered a major hack. ZachXBT reported that $112.5 million worth of XRP tokens were lost in a wallet hack. He identified the first source of the violation as the address “rJNLz3….ojm”. The incident led to a 4% drop in the value of the XRP token.
However, Ripple’s CEO Brad Garlinghouse stated that no wallets were compromised in the so-called hacking incident. Thus, he quickly countered these claims. Garlinghouse’s response was aimed at allaying concerns. It also aimed to clarify the security status of the Ripple platform. It was later revealed that the compromised accounts were Chris Larsen’s personal accounts.
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