Binance Froze $4.2 Million in XRP Stolen from Ripple Co-founder

Crypto exchange Binance froze $4.2 million worth of XRP tokens tied to this week's $120 million exploit affecting Ripple co-founder Chris Larsen. Binance CEO Richard Teng confirmed that the exchange froze $4.2 million worth of XRP stolen from Ripple co-founder Chris Larsen in an X post.

The proactive measure was taken to secure the stolen XRP after a reported exploit at Ripple. In a swift response, Binance has frozen $4.2 million worth of Ripple's XRP currency. This move highlights Binance's commitment to user security and combating illicit activities within the cryptocurrency space.

Binance took decisive action by freezing $4.2 million worth of XRP. This move came after a hacker managed to steal a massive amount from Chris Larsen’s personal wallet. The frozen XRP XRP $2.41 represents a significant portion of the stolen funds, showcasing the effectiveness of Binance's security protocols in recovering illicitly obtained cryptocurrency. The exchange continues to investigate the incident and collaborate with law enforcement to pursue the perpetrators.

The speed and efficiency with which Binance responded to the Ripple exploit demonstrate the importance of robust security measures in the digital asset ecosystem. Users are encouraged to remain vigilant and prioritize secure storage practices for their cryptocurrency holdings.