ZachXBT has reported that Chris Larsen, a co-founder of Ripple, experienced a cryptocurrency loss of about $150 million in January 2024. Investigators have connected the theft to the LastPass breach from 2022, where hackers used stolen credentials from encrypted vaults to gain access to Larsen’s private keys. This significant theft, amounting to 283 million and worth $150 million at that time, from Chris Larsen’s personal accounts occurred on January 10, 2024, and is associated with the LastPass security incident. As per a forfeiture complaint from U.S. law enforcement revealed by blockchain investigator ZachXBT, the compromised private keys were originally kept in LastPass before being removed. Larsen’s XRP, which is now worth around $683 million, was stolen from accounts protected by four devices linked to the password management tool. After identifying the breach, Larsen assured that it only affected his personal accounts and did not have any repercussions for Ripple. We managed to identify the issue quickly and informed the exchanges to suspend the impacted addresses. “Larsen mentioned that law enforcement is currently engaged in the situation. They are monitoring and investigating the laundering of the stolen XRP.” In 2022, LastPass, a popular password management tool, experienced two significant security breaches. The initial incident took place in August, when cybercriminals gained access to segments of the company’s source code, API tokens, and multi-factor authentication (MFA) seeds. In November, attackers utilized information from the initial breach to access encrypted password vaults and customer information.
The co-founder of Ripple has suffered a loss of $150 million in XRP due to a cyberattack.
