Ripple Co-founder Loses $150M In XRP After LastPass Hack

Ripple co-founder Chris Larsen has suffered a major cryptocurrency theft, with hackers stealing $150 million worth of XRP in January 2024.

Blockchain investor Zachxbt revealed that the hack happened because Larsen had stored his private key in LastPass, a password manager that was compromised in 2022. U.S. officials have confirmed this information, emphasizing the ongoing risks caused by past security breaches.

$150 Million XRP Theft
LastPass, a widely used password storage service, experienced a serious data breach in 2022. This breach has exposed encrypted customer data, which hackers have later used to steal 213 million XRP tokens, worth around $112 million, from Chris Larsen’s personal wallet. The attackers have managed to access Larsen’s accounts using the private keys he had stored in LastPass.

After gaining control of Larsen’s XRP, the hackers quickly moved them across different crypto platforms. They used major exchanges like Binance, Kraken, and OKX to launder the stolen money. Fortunately, Binance has been able to freeze $4.2 million in XRP, but much of the stolen cryptocurrency has already been converted into other tokens.

Larsen has clarified that the attack targeted his personal accounts and had no connection to Ripple’s corporate funds. A recent U.S. law enforcement complaint has confirmed the link between the theft of Larsen’s XRP tokens and the previous LastPass security breach.

LastPass Breach Still Causing Problems
Even after the initial breach, the effects have continued to harm users. Hackers have been working to decrypt stolen data, leading to further cryptocurrency thefts. Cybersecurity expert Brian Krebs has reported that over $35 million has been stolen from more than 150 victims since the 2022 incident.

ZachXBT has tracked a series of related attacks, including a $5.36 million theft in December 2024. He has posted on his Telegram channel on December 17:

“Today an estimated $5.36M was drained by the LastPass threat actor from 40+ victim addresses. Stolen funds were swapped for ETH and transferred to various instant exchanges from Ethereum to Bitcoin.”

These ongoing attacks have highlighted the lasting consequences of the LastPass breach. Security experts have been urgently advising anyone who stored crypto-related information in LastPass to move their funds immediately. They have stressed the importance of better security measures to protect digital assets.

Meanwhile, the release of U.S. law enforcement documents about the case has come just as former President Donald Trump has hosted the first White House Crypto Summit on March 7, 2025. Some people have believed the timing of this announcement is related to another recent government statement. Twitter user modernalkemist has commented on this possible connection.
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