Latest Update on Ripple Hack: Find Out What Happened to the Stolen XRP Tokens

Binance, the renowned cryptocurrency exchange, has successfully frozen millions of XRP tokens following a major hack on the Ripple Network. Binance CEO Richard Teng took to Twitter to announce that his team had managed to freeze $4.2 million worth of XRP tokens. He expressed his support for Ripple in their efforts to investigate the hack and recover the stolen funds. Teng also pledged to closely monitor the flow of funds in the hacker’s address and thanked the community for their assistance. This hack on Ripple resulted in the loss of approximately 213 million XRP tokens, valued at around $112 million, making it the largest crypto theft of the year. The news of the hack was initially broken by Zach Xbt, who revealed that the stolen funds had been laundered through various exchanges. It was later clarified that the stolen funds came from the wallet of Ripple co-founder Chris Larsen, not from the company itself. Larsen confirmed that law enforcement had been notified and the exchanges were aware of the freeze on the assets. Binance has a history of helping firms recover from hacks, having previously assisted with the Ronin network hack and the HTX harmony bridge attack. This incident highlights the importance of collaboration between crypto platforms, the community, and law enforcement in strengthening security against hackers. Users are eagerly awaiting updates on the recovery of funds from the Ripple hack.