# Ripple Co-Founder's $150M Wallet Hack Linked to LastPass Security Breach: A Developing Story

The crypto world is still reeling from the shocking revelation that Ripple co-founder Chris Larsen's $150 million wallet hack has been linked to a 2022 LastPass security breach. According to on-chain security expert ZachXBT, citing a recent US law enforcement forfeiture complaint, the attack on Larsen's personal accounts was orchestrated by hackers who exploited encrypted user data stolen during the LastPass breach.

### The Ripple Incident

In January 2024, hackers accessed LastPass's systems and stole encrypted user data. This breach led to the theft of 213 million XRP tokens, valued at $112 million at the time. The attackers compromised private keys stored in the LastPass password management system, allowing them to access and drain Larsen's wallet.

### A Trail of Crypto Exchanges

The stolen funds were quickly moved to various crypto exchanges, including Binance, Kraken, OKX, and others. This rapid transfer of assets made it difficult for law enforcement agencies to track down the perpetrators and recover the stolen XRP.

### Ripple's Response and Confirmation

Larsen confirmed the breach in a statement, clarifying that it was an isolated incident involving his personal accounts and not Ripple's corporate wallets. He had not previously disclosed the cause of the security breach.

### The Aftermath and Law Enforcement Efforts

Following the hack, law enforcement was promptly involved, and several exchanges froze portions of the stolen funds. Binance alone halted $4.2 million worth of XRP. Despite these efforts, a large amount of the stolen XRP had already been laundered or converted out of XRP by the attackers.

### LastPass Breach: A Persistent Threat

Last December, cybersecurity experts sounded the alarm after a wave of crypto thefts linked directly to the 2022 LastPass security breach. The 'LastPass threat actor' stole approximately $5.4 million in crypto assets from over 40 victim addresses, converting them to Ethereum and Bitcoin.

### Ripple Holdings and Inactive Addresses

In light of President Donald Trump's announcement of the US Strategic Crypto Reserve, discussions around major US-based crypto assets have intensified. ZachXBT revealed that XRP addresses linked to Chris Larsen still hold over 2.7 billion XRP worth over $7 billion. These addresses transferred over $109 million worth of XRP to exchanges in January 2025.

### Possible Scenarios

ZachXBT noted that multiple of these inactive addresses may have been dormant for 6-7 years, potentially due to Larsen losing access or sending funds to other people. Furthermore, Larsen was also hacked for $112M early last year.

The ripple effects of this incident are still being felt in the crypto community. As law enforcement agencies continue to investigate and track down the perpetrators, it remains to be seen whether the stolen XRP will ever be recovered.