Ripple’s XRP Drops 5% Amid Report of Potential $112M Hack

January 31, 2024
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Ripple’s XRP token has fallen by more than 5% following a report of a possible hack worth $112.5 million.

Blockchain sleuth ZachXBT claimed on X (formerly Twitter) that 213 million XRP tokens had been siphoned out of one wallet, before being laundered through multiple exchanges including Binance, Kraken and OKX.

XRP is currently trading at $0.497 having began the day at $0.525, according to CoinDesk data.

Ripple did not immediately respond to CoinDesk’s request for comment.

Edited by Aoyon Ashraf.

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