On-chain detective Zach uncovered court documents indicating that a forfeiture complaint submitted by U.S. law enforcement yesterday revealed that Ripple co-founder Chris Larsen was hacked in January 2024, resulting in a loss of approximately $150 million (about 283 million XRP). The reason for the breach was that he stored his private keys in LastPass, a password management tool that was hacked in 2022.

Prior to this, Chris Larsen had not publicly disclosed the specific reasons for the theft.