Ripple co-founder Chris Larsen reportedly lost around $150 million worth of crypto after storing his private keys with password manager LastPass, according to crypto detective ZachXBT.
In a post today, ZachXBT revealed that a U.S. law enforcement seizure request confirmed that the January 2024 hack of Larsen’s wallet was the result of a compromise of private keys stored at LastPass. The password manager suffered a major security breach in 2022, with hackers allegedly exploiting the breach to steal sensitive user data.
“A seizure request made yesterday by US law enforcement revealed that the ~$150 million (283 million XRP) hack of Ripple co-founder Chris Larsen’s wallet in January 2024 was a result of private keys being stored in LastPass,” ZachXBT wrote on his Telegram channel. “Up until this point, Chris Larsen had not publicly disclosed the reason for the theft.”
Larsen had previously admitted to “unauthorized access” to his personal XRP accounts but did not specify how the breach occurred. Larsen’s admission follows previous reports from ZachXBT claiming that Ripple was hacked for approximately 213 million XRP, worth $112.5 million at the time.
However, the seizure document shared by ZachXBT does not explicitly mention Larsen’s name or confirm the exact amount stolen. It remains unclear how the figure of 283 million XRP, currently worth around $708 million, was determined.
*This is not investment advice.
