**Chris Larsen’s Wallet Breach: What You Need to Know**
Chris Larsen recently confirmed a breach of his personal wallet on X, with the FBI linking the stolen credentials to a victim in San Francisco. Blockchain investigator ZachXBT uncovered that Larsen had dormant XRP wallets holding a staggering $7.18 billion, highlighting the risks associated with storing private keys online. In January 2024, malicious actors drained 283 million XRP tokens, valued at approximately $150 million, from a wallet associated with the Ripple co-founder.
On March 7, 2025, ZachXBT revealed the origins of the breach, referencing a U.S. forfeiture complaint that traced the theft back to compromised private keys stored in LastPass, a password management service that suffered a breach in 2022. The exploit was rooted in vulnerabilities within LastPass’s encrypted vaults, which leaked user credentials during two significant cyberattacks that year. By late 2023, blockchain analysts had linked these breaches to over $35 million in stolen crypto assets, including $4.4 million taken from the wallets of 25 LastPass users in a single attack in October 2023.
The FBI confirmed that hackers used the stolen login information to access accounts and execute unauthorized transfers of digital assets. In January 2024, Larsen took to social media to acknowledge the breach, clarifying that only his personal holdings were impacted—not Ripple’s corporate reserves. The forfeiture complaint filed on March 6, 2025, did not specifically name LastPass but did reference a victim based in San Francisco, which aligns with Larsen’s known residence.
ZachXBT’s investigation also revealed that Larsen controlled dormant XRP addresses containing 2.7 billion tokens, valued at $7.18 billion, which remained untouched by the breach. This incident highlights the systemic risks associated with relying on centralized custodians for private key storage, igniting discussions in crypto forums about the merits of self-custody solutions and hardware wallets. The FBI is actively working to track the stolen XRP, but recovery remains challenging due to the anonymity provided by blockchain technology. LastPass has yet to publicly address its connection to Larsen’s case.
This breach serves as a stark reminder of the importance of securing cryptographic keys offline, as cloud-based managers continue to be prime targets for cybercriminals.
As of today, XRP is trading at $2.1936, reflecting a 5.70% decline in the last 24 hours. Over the past week, XRP has shown relative stability with only a 0.19% drop, but it has decreased by 5.92% over the past month. Despite this recent correction, XRP remains one of the strongest-performing cryptocurrencies over the past year, boasting a remarkable 252.82% gain. In the last six months alone, XRP has surged by 305.47%, making it a standout performer in the market.
Currently, XRP is facing strong resistance in the $2.35-$2.50 range, with traders closely monitoring whether it can break through this level. The support zone around $2.00-$1.95 is critical; if it fails, XRP could potentially drop further towards $1.50 in the short term. Analysts are divided, with some anticipating a bullish breakout above $2.50, while others caution about a possible correction if selling pressure persists.
