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Binance Freezes $4.2 Million in XRP to Aid Ripple Recover Stolen Funds

Published 02/02/2024, 02:17 PM
Updated 02/02/2024, 02:45 PM
© Reuters.  Binance Freezes $4.2 Million in XRP to Aid Ripple Recover Stolen Funds
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  • Binance freezes $4.2 million worth of XRP that was stolen from Chris Larsen’s accounts in a recent hack.
  • While ZachZBT reported a 213 million Ripple attack, Larsen revealed that the attack solely involved his personal account.
  • Assuring support to recover the funds, Binance CEO Richard Teng shared an X post.

The recent XRP hack involving Ripple Co-founder Chris Larsen has created shockwaves in the crypto community and XRP Army. In the latest development, Binance, one of the leading crypto exchanges, has announced its strategic move to help Ripple recover the stolen amount by freezing about $4.2 million worth of stolen XRP.

Binance CEO Richard Teng shared an official post on X, acknowledging the work of crypto sleuth ZachXBT, who first reported the Ripple hack. Teng also appreciated Ripple’s effort in collaborating with other exchanges, including Binance. Announcing the platform’s decision to freeze the stolen funds, Teng wrote, “The Binance team has managed to freeze $4.2 Million worth of XRP stolen by the exploiter.”

The post Binance Freezes $4.2 Million in XRP to Aid Ripple Recover Stolen Funds appeared first on Coin Edition.

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