Ripple co-founder and executive chairman Chris Larsen lost over $661 million worth of XRP last year, reportedly due to a hack of password manager LastPass.

Chris Larsen, co-founder of Ripple, lost 283 million XRP, worth $150 million after hackers broke into his wallet. The attack happened in January 2024, but new details reveal the breach was done via private keys stored in LastPass—a password manager that was hacked in 2022.

XRP wiped out last week's gains as it dropped as low as $2.11 Sunday following ZachXBT's publication of a U.S. law enforcement filing that revealed the theft of $150 million worth of $XRP from Ripple

On Friday, investigator ZachXBT announced in a Telegram group that Larsen was the victim identified in the forfeiture lawsuit.

The January 2024 theft of 283 million XRP (XRP) from Ripple co-founder Chris Larsen’s personal accounts has been linked to a password manager breach, according to a forfeiture complaint filed by US law enforcement revealed by crypto investigator ZachXBT.

Larsen confirmed the incident in January, where he clarified the hack affected only his personal accounts, not Ripple’s corporate wallets.

Ripple Co-founder Chris Larsen lost $150 million in XRP back in January. Larsen's private wallet keys were stored on LastPass.

Prominent blockchain investigator ZachXBT has uncovered $7.18 billion worth of XRP tokens held in dormant wallets activated by Ripple co-founder Chris Larsen. According to a report published on Telegram,

A $150M Ripple co-founder hack traced to a 2022 LastPass breach compromised private keys, with funds moved to major crypto exchanges.