Ripple co-founder Chris Larsen lost roughly $150 million worth of crypto because he stored his private keys with the password manager LastPass, according to internet sleuth ZachXBT.
“A forfeiture complaint filed yesterday by U.S. law enforcement revealed the cause for the ~$150M (283M XRP) hack of Ripple co-founder, Chris Larsen's wallet in Jan 2024 was the result of storing private keys in LastPass (password manager which was hacked in 2022),” ZachXBT said in a post to their Telegram channel on Friday. “Up to this point Chris Larsen had not publicly disclosed the cause of the theft.”
In January 2024, Larsen admitted there had been "unauthorized access" to his “personal XRP accounts." Those comments followed ZachXBT posting online the allegation that Ripple had been hacked for about 213 million XRP worth $112.5 million. "Yesterday, there was unauthorized access to a few of my personal XRP accounts (not Ripple)," Larsen said at the time.
The excerpt of the document shared by ZachXBT does not show Larsen’s name or reference the exact amount that was stolen. It’s unclear from ZachXBT’s post where the amount of 283 million XRP comes from. As of publication time, that amount would be worth roughly $708 million.
Ripple did not immediately respond to a request for comment.
ZachXBT has been following LastPass security breaches for a while now. At the end of last year, the internet sleuth reported that attackers identified as the “LastPass threat actor” had stolen $5.36 million worth of crypto from over 40 wallet addresses.
The LastPass security breach is believed to date back to 2022 when attackers apparently hacked the password manager and succeeded in stealing vast amounts of data, including customer keys, API tokens and MFA seeds.
ZachXBT has also identified other crypto thefts linked to the LastPass security breach including one valued over $6.2 million in February 2024 and another $4.4 million theft in October 2023.
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