Binance CEO Richard Teng has announced the freezing of $4.2 million worth of XRP tokens linked to the recent $120 million exploit.
Teng mentioned in a post that developers of the XRP Ledger, responsible for maintaining the blockchain utilizing XRP, had alerted exchanges about the exploit and requested that they monitor deposits associated with the exploiter’s wallets.
Richard Teng, the CEO of Binance, posted an official statement on X, acknowledging the efforts of crypto investigator ZachXBT, who initially reported the Ripple hack.
In announcing the platform’s decision to freeze the stolen funds, Teng stated, “The Binance team has managed to freeze $4.2 Million worth of XRP stolen by the exploiter.”
Teng expressed a commitment to assisting Ripple in their inquiries and endeavors to recover the funds. This involves vigilant monitoring of the exploiter’s external wallets, particularly focusing on any potential deposits to Binance among the majority of funds that remain in those wallets.
Following this revelation, Ripple CEO Brad Garlinghouse stepped forward, affirming that the security of Ripple wallets remained intact and was not compromised. Larsen echoed the CEO’s statements, assuring that the Ripple wallets were secure and only his wallet was compromised.
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