XRP experienced a significant price drop early Wednesday amidst rumors of a potential exploit. The XRP price dropped more than 4% to $0.4853 but later recovered to $0.500 following a clarification from one of Ripple’s co-founders. Personal XRP Accounts Impacted, Not Ripple’s Initial reports suggested that Ripple had suffered a significant security breach, which was brought to light by decentralized finance (DeFi) investigator ZachXBT. These reports raised concerns about the overall security of the Ripple protocol. According to investigations, the breach resulted in the theft of more than 213 million XRP tokens, valued at over $112 million. The stolen funds were reportedly laundered through cryptocurrency exchanges, including MEXC, Gate, Binance, Kraken, OKX, HTX, and HitBTC. Related Reading: Why “Overbought” Bitcoin Could Trigger A 107% Rally However, Ripple co-founder Chris Larsen took to X (formerly Twitter) to clarify the situation. In a recent post, Larsen stated: Yesterday, there was unauthorized access to a few of my personal XRP accounts (not Ripple) – we were quickly able to catch the problem and notify exchanges to freeze the affected addresses. Law enforcement is already inv ..
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