Binance CEO Richard Teng made a statement regarding the attack that affected the personal wallet of Chris Larsen, one of Ripple executives. The CEO stated that they noticed the attack at an early stage and intervened as soon as possible and froze some of the assets. explained.
After finding out early on about the exploit that occurred at @Ripplewe’re happy to say that the #Binance team has managed to freeze $4.2 Million worth of $XRP stolen by the exploiter.
NEWS CONTINUES BELOWWe appreciate both the communities’ efforts in flagging it to exchanges – as always @zachxbt…
— Richard Teng (@_RichardTeng) February 1, 2024
NEWS CONTINUES BELOW
Ripple Hack Reveals Security Vulnerabilities: What About the Multi-Sig Issue?
As we reported as Koinfinans.com, a hack attack was carried out on Larsen’s personal XRP account in January. Although the attack took place in the late hours of January 30, it was widely discussed that it was not brought to the attention until ZachXBT brought attention to the incident.
However, ZachXBT claimed that the attack affected Ripple’s wallet. This was because XRPL explorers Bithomp and XRPScan mislabeled the address as belonging to the company. Larsen confirmed ZachXBT’s statement, but explained that the wallet belonged to him, not the company.
According to the blockchain detective, on-chain data shows attackers moving assets to multiple centralized exchanges, including MEXC, Gate.io, Binance, Kraken, OKX, and HTX (formerly Huobi).
In the statement made later, it was determined that XRP tokens were exchanged with different tokens. While the effort to save all assets continues, the community continues to speculate.
XRPL Ledger (XRPL) Foundation Head of Analytics and Compliance Thomas Silkjær noted that they engaged law enforcement and contacted various exchanges to identify the wallets involved in the incident.