Ripple Cofounder’s $150M XRP Heist Related to LastPass Hack: ZachXBT
A forfeiture complaint filed by U.S. law enforcement on March 6 has confirmed that the $150M theft from Ripple co-founder Chris Larsen was due to a security lapse involving LastPass.
🔍 What Happened?
Blockchain investigator ZachXBT revealed that Larsen’s private keys were stored in LastPass, a password manager that suffered a massive breach in 2022.
Hackers stole encrypted vaults of user passwords, exploiting weak or reused master passwords to access sensitive data.
As a result, Larsen’s wallet was compromised, leading to the theft of 283M XRP (~$150M at the time, now worth over $600M).
📢 Larsen’s Response:
He confirmed the hack in January, stating it affected only his personal accounts, not Ripple’s corporate wallets.
However, he has not publicly commented on the forfeiture notice yet.
⚠️ Crypto Security Warning!
The 2022 LastPass breach has led to over $250M in crypto losses, according to The Security Alliance (SEAL).
Always use secure, offline storage for private keys—password managers may not be safe!
💬 What are your thoughts on this breach? Comment below! 🚀