Ripple co-founder’s wallet sends $140 million in XRP to exchanges since July 17

Explore key highlights within the Altcoin house. This article dives into: “Ripple co-founder’s wallet sends $140 million in XRP to exchanges since July 17”.

Key Takeaways

• Chris Larsen’s wallet has moved 50 million XRP price about $175 million since July 17.
• The wallet’s exercise follows a serious safety breach the place $112 million in XRP was stolen in January 2024.

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A wallet tied to Ripple co-founder Chris Larsen has transferred 50 million XRP, price round $175 million, to 4 addresses since July 17, with about $140 million ending up on exchanges, on-chain investigator ZachXBT revealed as we speak.

As beforehand reported by Crypto Briefing, Larsen’s wallet despatched 9.5 million XRP tokens, valued at over $26 million, to Coinbase on July 17. The transfer got here simply as XRP’s worth started to rise sharply.

According to CoinGecko knowledge, XRP reached a historic peak of $3.6 on July 18, driving its valuation to $215 billion. That surge additionally helped it flip American Express and McDonald’s in dimension, although the takeover was short-term, per CompaniesMarketCap.

XRP now ranks because the third-largest crypto asset by market worth.

The sending wallet is a part of a gaggle of wallets linked to Larsen that beforehand transferred $109 million in XRP to exchanges in January 2025, as beforehand recognized by ZachXBT. The wallets had been dormant for at the least six years, elevating questions on whether or not Larsen nonetheless had entry to them.

The transfers comply with a January 2024 safety incident the place Larsen misplaced $112 million in XRP via a hack linked to a LastPass safety breach from 2022.

The stolen funds have been shortly distributed throughout numerous crypto exchanges, together with Binance, Kraken, and OKX. While Binance managed to freeze $4.2 million price of stolen XRP, attackers had already laundered or transformed a lot of the funds.

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