Ripple Co-Founder Loses $150M in LastPass Breach

Ripple co-founder Chris Larsen's loss of 283 million XRP, valued at $150 million at the time of theft in January 2024, has been linked to a breach of the LastPass password manager from 2022. The private keys for Larsen's XRP wallet were stored in LastPass, which suffered major breaches allowing hackers to access encrypted password data, subsequently leading to the theft. The stolen XRP was quickly moved across various crypto exchanges, with some exchanges managing to freeze parts of the stolen funds. Despite efforts by law enforcement and exchanges to recover the assets, much of the cryptocurrency has been laundered. This incident highlights the risks associated with storing sensitive information like private keys in online password managers. The XRP market reacted negatively to the revelation, with a significant drop in XRP's trading price following the news.