# Ripple Co-founder's $150M XRP Heist Related to LastPass Hack: ZachXBT

In a shocking revelation, U.S. law enforcement has confirmed that the massive $150 million XRP heist targeting Ripple co-founder Chris Larsen was linked to a security lapse involving the widely used password manager LastPass. This news was shared by blockchain sleuth ZachXBT, who shed light on how Larsen's private keys were compromised due to his storage in LastPass.

## The 2022 LastPass Hack

In 2022, hackers exploited a vulnerability in the developer account of LastPass, allowing them to access source code and technical data. By November of that year, they infiltrated a cloud storage system, stealing encrypted customer password vaults and unencrypted metadata for an estimated 25 million users.

Although the 'vaults' were encrypted, weak or reused master passwords could be brute-forced, exposing stored data. Hackers took advantage of this vulnerability to access Larsen's private keys, siphoning off the XRP valued at $150 million at the time of the theft and over $600 million as of Saturday's prices.

## The Ripple Co-founder's Response

Chris Larsen confirmed the incident in January, stating that the hack affected only his personal accounts, not Ripple's corporate wallets. However, he had not publicly disclosed the cause of the theft until now.

## The Fallout from the 2022 LastPass Hack

The fallout from the 2022 LastPass hack has been extensive and remains ongoing. In December, The Security Alliance (SEAL), a team of cybersecurity experts focused on the crypto market, estimated that crypto losses connected to the breach had touched at least $250 million as of May 2024.

## Conclusion

As the cryptocurrency market continues to evolve, it is essential for users to prioritize their security measures. The case of Chris Larsen's $150M XRP heist serves as a reminder of the importance of using reputable password managers and following best practices for securing digital assets.

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# About the Author

Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. He holds over $1,000 in various cryptocurrencies, including BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.