Updates
Ripple Co-Founder Chris Larsen Loses Over $100 Million in XRP Due to LastPass Hack, Kevin Lehtiniitty Weighs In on White House Crypto Summit
Mar 7, 2024
March 7, 2025 – Ripple co-founder Chris Larsen recently lost over $100 million worth of XRP due to a security breach involving his LastPass password manager, according to a new U.S. forfeiture lawsuit. The loss occurred in January 2024, when Larsen's private keys were compromised as a result of the 2022 LastPass hack. This incident was initially not disclosed publicly by Larsen, who had referred to it as an "isolated incident" involving unauthorized access to his XRP accounts.
Following the news, XRP's price dropped more than 7%, currently trading at $2.41 per token. Despite the significant financial loss, Larsen quickly alerted exchanges to freeze the affected accounts, and law enforcement is now involved in the ongoing investigation.
Kevin Lehtiniitty, CEO of Borderless.xyz, commented on the incident, noting the controversy surrounding the guest list of the upcoming White House crypto summit hosted by Donald Trump. Lehtiniitty expressed concerns that the summit might lean toward a “pay to play” event, potentially sidelining neutral experts who could offer valuable insights into the future of crypto regulation.
Read the full article on The Street.
