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

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

Research Report Templates.jpg

Research

Figure, founded by former SoFi CEO Mike Cagney, has emerged as a leader in onchain RWAs, with ~$17.5B publicly tokenized. The platform’s ecosystem volume is growing ~40% YoY as it expands beyond HELOCs into student loans, DSCR loans, unsecured loans, bankruptcy claims, and more. Operationally, Figure cuts average loan production cost by ~93% and compresses median funding time from ~42 days to ~10, creating a durable speed-and-cost advantage.

article-image

The Ethereum co-founder suggested LINEA holders would be eligible for other airdrops in cryptic tweet

article-image

The layer-2’s biggest release yet brings benefits — but a post-upgrade outage caused a chain reorg

article-image

Crypto is shifting into risk-on mode — pump.fun dominates meme activity, while Lido leans on treasury maneuvers

article-image

If the president breaks the Fed, he’ll own the budget problems

article-image

Combining Franklin Templeton’s tokenization expertise with Binance’s trading infrastructure could speed crypto adoption, companies say

article-image

The firm’s upcoming filing comes as competition heats up over the USDH stablecoin