Imagine, dear reader, a tale of woe where technology, a co-founder’s fortune, and a password manager collide in a symphony of misfortune. 🎶 Oh, the irony! In January 2024, Chris Larsen, co-founder of Ripple, experienced a loss so profound, it would make even the most hardened cryptophile shed a tear. 💔 Approximately $150 million worth of XRP vanished into thin air, courtesy of a security breach at LastPass, the very service meant to safeguard his digital treasures. 😱 This revelation was unearthed by ZachXBT, a blockchain detective of sorts, who shared the details on his Telegram channel. 🕵️♂️
How Did The Cryptocurrency Go Down The Drain? 🚿
Picture this: Chris Larsen, a man of considerable means, entrusted his private keys to LastPass, believing it to be the Fort Knox of password management. Alas, in late 2022, LastPass suffered not one, but multiple security breaches, leading to a cascade of unfortunate events. 🗝️💰💰💰 It’s akin to leaving your gold in a bank that forgot to lock the vault. By September 2023, a connection was drawn between the breach and the theft of over $35 million in cryptocurrency. A mere $4.4 million was siphoned off from 85 wallets in a single day, October 25, 2023. 😮
Fast forward to late January 2024, ZachXBT uncovered that Ripple had been plundered for 213 million XRP, valued at $112.5 million. Larsen confirmed the unauthorized access to his personal stash, but not Ripple’s coffers. 🏦 The FBI, in its pursuit of justice, found that the passwords stolen in the breaches were the key to unlocking a Pandora’s box of customer data and assets. 🕵️♂️🕵️♀️
The court document, a veritable thriller, reads:
Stolen data and passwords were used to illegally access the victims’ electronic accounts and steal information, cryptocurrency, and other data without any regard for the victims’ peace of mind or financial stability. 😡💸💸💸
The document doesn’t name LastPass, but Larsen’s San Francisco residence hints at the culprit. ZachXBT, the crypto Sherlock Holmes, recently tied Larsen to a series of dormant XRP wallets holding over 2.7 billion XRP, valued at $7.18 billion. 🌟💰💰💰
XRP Price: The Rollercoaster Ride 🎢
At the time of writing, XRP’s price hovers around $2.37, experiencing a rollercoaster ride with a 5% increase in the past 24 hours. 📈📉
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2025-03-09 08:00