The post Larsen’s $150M Loss & Dormant Accounts appeared on BitcoinEthereumNews.com.

Dormant XRP wallets tied to Larsen moved $109M, raising control speculation. XRP surged 18% after Trump’s crypto reserve plan and sudden wallet activity. Hackers exploited LastPass breach, stealing $150M XRP from Larsen’s holdings. Ripple co-founder Chris Larsen has found himself at the center of a significant financial event. U.S. law enforcement released documents on March 7, showing that Larsen lost approximately $150 million in XRP value in January 2024.  The alleged theft happened from a compromised private key kept in the password manager LastPass, which suffered a major data breach in 2022.  The breach gave hackers access to encrypted digital assets, resulting in the massive loss. But, the incident took a strange turn when previously dormant XRP wallets linked to Larsen suddenly became active, which made people wonder what was going on. According to ZachXBT, the U.S. law enforcement agency released documents on March 7, revealing that Ripple co-founder Chris Larsen was stolen about $150 million (283M XRP) in January 2024 because the private key was stored in the password manager LastPass, which suffered a major… — Wu Blockchain (@WuBlockchain) March 7, 2025 Dormant XRP Wallets “Wake Up” On March 3, blockchain investigator ZachXBT discovered XRP wallets connected to Larsen holding over 2.7 billion XRP, estimated at approximately $7.18 billion. These wallets had remained inactive for years, with some showing no movement for six to seven years.  Start of January 2025, saw these wallets making large transactions. The timing of these movements has caused concerns about who owns and controls these holdings. Related: Ripple Pledges $50 Million to Launch National Cryptocurrency Education Association in United States Ripple’s trying to hide something. These addresses should be frozen. Query onchain data: Who are the wallets that received $109M XRP? https://t.co/tQknmYqRVZ — Keeny (@0xkeeny) March 3, 2025 Sudden Transfers of Millions in XRP…

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Filed under: News - @ March 8, 2025 7:13 am