- Larsen confirmed personal wallet breach on X; FBI linked stolen credentials to a San Francisco victim.
- ZachXBT identified Larsen’s dormant XRP wallets ($7.18B), exposing risks of online private key storage.
In January 2024, threat actors drained 283 million XRP tokens (valued at $150 million) from a wallet linked to Ripple co-founder Chris Larsen. Blockchain forensic expert ZachXBT exposed the breach’s origins on March 7, 2025, citing a U.S. forfeiture complaint that traced the theft to compromised private keys stored in LastPass, a password management platform breached in 2022.
The exploit stemmed from vulnerabilities in LastPass’s encrypted vaults, which leaked user credentials during two major 2022 cyberattacks. By late 2023, blockchain analysts connected these breaches to over $35 million in stolen crypto assets, including $4.4 million siphoned from 25 LastPass users’ wallets in a single October 2023 attack. The FBI confirmed hackers leveraged stolen login data to infiltrate accounts, executing unauthorized transfers of digital assets.
Larsen acknowledged the breach on social media in January 2024, clarifying that only his personal holdings—not Ripple’s corporate reserves—were affected. The forfeiture complaint, filed March 6, 2025, did not explicitly name LastPass but referenced a San Francisco-based victim, aligning with Larsen’s verified residence.
ZachXBT’s investigation further revealed Larsen’s control of dormant XRP addresses holding 2.7 billion tokens ($7.18 billion), untouched by the breach. The incident underscores systemic risks in relying on centralized custodians for private key storage, sparking debates across crypto forums about self-custody solutions and hardware wallets.
The FBI continues efforts to track the stolen XRP, though recovery remains complex due to blockchain anonymity. LastPass has not addressed the link to Larsen’s case publicly. This breach amplifies long-standing warnings about securing cryptographic keys offline, as cloud-based managers remain prime targets for cybercriminals.
As of today, XRP is trading at $2.1936, reflecting a 5.70% decline in the last 24 hours. Over the past week, XRP has been relatively stable with only a 0.19% drop, but over the past month, it has decreased by 5.92%.
Despite the recent correction, XRP remains one of the strongest-performing cryptocurrencies in the past year, with a 252.82% gain. In the last six months alone, XRP has surged by 305.47%, making it one of the standout performers in the market.
XRP is currently facing strong resistance at $2.35-$2.50, with traders closely watching whether it can break above this level. The support zone around $2.00-$1.95 is crucial—if it fails, XRP could drop further towards $1.50 in the short term. Analysts are divided, with some expecting a bullish breakout above $2.50, while others warn of a potential correction if selling pressure continues.
