Binance Freezes $4.2 Million from Chris Larsen Hack, but Exchange CEO Richard Teng Still Irritates Ripple with ‘Vague’ Tweets

Binance froze $4.2 million worth of XRP in the $112 million hack of Ripple co-founder Chris Larsen’s personal wallet, but tweeted: comment Binance CEO Richard Teng seems to have irritated the Ripple team.

Teng said in X on February 1: post The exchange froze $4.2 million worth of XRP stolen by exploiters after Binance made “early discovery of an attack taking place on Ripple.”

“This tweet is a bit ambiguous.” answered Thomas Silkjær, Head of Analytics and Compliance at XRP Ledger Foundation. “The compromised accounts are personal accounts. @chrislarsensf – Not an exploit @ripple.”

Ripple Exec Provides Insight into Hacking

And while Teng praises @zachxbt For doing a ‘great job’ discovering the hack. Silkjær was less impressive.

“The initial investigation was as follows: @XRPLF And it started happening as it happened. It was inadvertently not posted on social media the next day. @zachxbt,” he said

appear @ripple About 213 million XRP ($112.5 million) was hacked.

source address
rJNLz3A1qPKfWCtJLPhmMZAfBkutC2Qojm

So far, stolen funds have been laundered through MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC, and others. pic.twitter.com/HKGYsLQeMv

— ZachXBT (@zachxbt) January 31, 2024

Initial speculation claimed that Ripple itself had been hacked and that the network’s XRP tokens had also been compromised. This caused the price of the remittance token to rise. 5% plunge Just an hour after ZachXBT posted.

XRP cannot recover from token dump

Larsen tried to make the XRP community feel comfortable. electricity The hack has nothing to do with Ripple itself. He explained that the 213 million XRP stolen was the result of someone gaining unauthorized access to his personal account.

Binance was one of several exchanges to which hackers sent stolen funds. Other platforms include Kraken, Gate.io, HTX, MEXC, and HitBTC.

Binance has frozen XRP transferred to its platform, but exchanges like OKX and Kraken have yet to say whether they have identified the hacker’s transfers or have frozen any funds involved in the hack.

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