According to on-chain detective ZachXBT, a forfeiture lawsuit filed by US law enforcement agencies yesterday revealed the reason why Ripple co-founder Chris Larsen suffered a theft of about $150 million (283 million XRP) in January 2024. The incident stemmed from Larsen storing private keys in the LastPass password manager, which suffered a data breach in 2022.
Documents show that the physical record of the private key of the cryptocurrency wallet was destroyed immediately after the victim entered it into an online password manager. The password manager suffered two major data breaches in August and November 2022, in which attackers stole encrypted passwords and vault data. The FBI investigation found that the stolen data was used to illegally access the electronic accounts of multiple victims and steal information, cryptocurrency and other data.
ZachXBT: Ripple's $150 million XRP theft was caused by a password manager leak
2025-03-07 15:14:28
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