Former RIPPLE engineering director NIK BOUGALIS posted on X platform, pointing out that the XRP account of RIPPLE co-founder CHRIS LARSEN was hacked due to the lack of using multi-signature or custodial services. CHRIS LARSEN stated that his personal XRP account was accessed without authorization and has notified the exchange to freeze the affected addresses. Law enforcement agencies have also been involved.

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<p>News from TechFlow: Former Ripple Chief Technology Officer Nik Bougalis stated in a post on X platform that Chris Larsen, co-founder of Ripple, is not the first nor the last person to have their XRP stolen in this manner.</p>
<p>Multi-signature support requires multiple signatures for a transaction, but Chris Larsen did not use multi-signature or custodial services.</p>
<p><a href="https://www.techflowpost.com/newsletter/detail_39798.html" target="_blank">Previous news</a>: Chris Larsen, co-founder and executive chairman of Ripple, stated on X: "Yesterday, some of my personal XRP accounts (not Ripple) were accessed without authorization. We quickly identified the issue and notified the exchanges to freeze the affected addresses. Law enforcement has been involved."</p>
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Ripple co-founder Chris Larsen's XRP account was stolen due to lack of multi-signature use.