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

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

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.

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

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The €7 million investment marks Luxembourg’s first sovereign exposure to Bitcoin

by Blockworks /
article-image

The chain-agnostic app layer aims to reward players of any game, in any token

article-image

The exchange will now offer direct access to CME futures across commodities, equities, and currencies through its US platform

by Blockworks /
article-image

The exchange’s full approval from the UAE’s Securities and Commodities Authority marks a regulatory milestone for global crypto oversight

by Blockworks /
article-image

Founded by Coinbase and Cruise veterans, CipherOwl plans to bring artificial intelligence to blockchain monitoring and risk detection

by Blockworks /
article-image

As the shutdown enters its second week, sources say the Senate Banking Committee looks to move ahead with a market structure bill markup