Binance has reportedly frozen XRP tokens worth $4.2 million associated with a $120 million exploit this week, according to CEO Richard Teng. He mentioned in a post on X that developers overseeing the XRP Ledger had alerted exchanges about the exploit, urging them to be vigilant for deposits linked to the exploiter's wallets. Teng affirmed Binance's commitment to aiding Ripple in investigations and recovery efforts, emphasizing ongoing monitoring of funds in the exploiter's external wallets if deposited on Binance.
The tokens, allegedly pilfered earlier this week, were traced back to a wallet owned by Chris Larsen, the Executive Chairman of Ripple Labs. Larsen clarified that the breach affected his "personal XRP accounts" and not Ripple itself. Blockchain investigator ZachXBT asserted in a Wednesday post that around 213 million XRP tokens were illicitly withdrawn from a large wallet on the XRP Ledger blockchain. The funds were subsequently laundered through various exchanges, including Binance, Kraken, and OKX.