According to CEO Richard Teng’s X post, cryptocurrency exchange Binance froze xrp (XRP) tokens valued at $4.2 million that were connected to this week’s $120 million theft.
According to Teng, exchanges were alerted to the vulnerability by XRP Ledger engineers, who are in charge of maintaining the XRP-using blockchain. They were also requested to keep an eye out for any deposits associated with wallets used illegally.
“We will continue to support Ripple in their investigations and their efforts to retrieve back the funds, including closely monitoring the majority of funds still in the exploiter’s external wallets in case they deposit to Binance,” Teng continued. Evidently, early this week, a wallet containing the tokens was broken into.
Chris Larsen, the executive chairman of Ripple Labs, was eventually proven to be the owner of the wallet. Not of Ripple itself, but of his “personal XRP accounts,” Larsen claimed, there had been a hack.
Blockchain expert ZachXBT asserted on Wednesday that 213 million XRP tokens have been removed from a sizable wallet on the XRP Leger network. After then, the money was laundered via a number of exchanges, including OKX, Kraken, and Binance.