Ripple had a bad start to February and was shaken by hack shock.
As you may remember, Ripple Co-Founder and Chief Executive Officer Chris Larsen confirmed the hacking incident and said that XRP was stolen from his personal accounts.
Announcing the hacking incident, ZachXBT said that the hacker sent 213 million XRP worth $112 million to MEXC, Gate, Binance, Kraken, OKX, HTX, HitBTC exchanges.
Thereupon, support for Ripple came from Binance CEO Richard Teng.
Binance CEO announced in an X post that they froze Ripple (XRP) tokens worth $4.2 million due to the $120 million hack.
While Richard Teng praised the rapid response of both Ripple and the community to the hacking incident experienced by Chris Larsen, he stated that Zach XBT's role in reporting the hacking incident to the exchanges was very important in solving the hacking incident and said, “Zach XBT did a great job as always.” .
“After learning early about the exploit occurring on Ripple, we are happy to say that the Binance team was able to freeze $4.2 Million worth of XRP stolen by the exploiter.
We appreciate both the community's efforts to flag this to exchanges (great job, as always, zachxbt) and the Ripple team's efforts to collaborate with us.
We will continue to support Ripple in their investigation and efforts to recover funds; this includes closely monitoring the majority of funds still in the abuser's external wallets if they deposit funds to Binance.
Our team is dedicated to supporting a secure ecosystem; We therefore encourage projects and users to contact us in such cases.
Stay SAFU!”