Ripple Co-founder Hacked for 213 Million XRP - What You Need to Know

TLDRRipple co-founder Chris Larson was hacked, resulting in a loss of 213 million XRP valued at $12.5 million. This incident raises concerns about the security of personal wallets and the reputation of Ripple. However, Ripple clarified that their wallets were not compromised and they are working with law enforcement to freeze and recover the stolen funds.

Key insights

😱Ripple co-founder Chris Larson was hacked, losing 213 million XRP valued at $12.5 million.

🔒Ripple clarified that their wallets were not compromised and they are working with law enforcement to recover the stolen funds.

💰Tether reported a profit of $2.85 billion for Q4 2020, outperforming Goldman Sachs.

📈Tether's total profit for 2020 reached $6.2 billion, demonstrating the growth and maturity of the crypto industry.

🤝Former Ripple employee Navin Gupta announced his departure from the company after 7 years.

Q&A

What happened to Ripple co-founder Chris Larson?

—Chris Larson was hacked, resulting in the loss of 213 million XRP.

Were Ripple's wallets compromised?

—No, Ripple clarified that their wallets were not compromised and they are working with authorities to recover the stolen funds.

How much profit did Tether report for Q4 2020?

—Tether reported a profit of $2.85 billion for Q4 2020, surpassing Goldman Sachs.

What is Tether's total profit for 2020?

—Tether's total profit for 2020 reached $6.2 billion, reflecting the growth and maturity of the crypto industry.

Who is leaving Ripple?

—Former Ripple employee Navin Gupta announced his departure from the company after 7 years.

Timestamped Summary

00:00Ripple co-founder Chris Larson was hacked, losing 213 million XRP valued at $12.5 million.

04:01Ripple clarified that their wallets were not compromised and they are working with law enforcement to recover the stolen funds.

08:33Tether reported a profit of $2.85 billion for Q4 2020, outperforming Goldman Sachs.

12:46Tether's total profit for 2020 reached $6.2 billion, demonstrating the growth and maturity of the crypto industry.

13:12Former Ripple employee Navin Gupta announced his departure from the company after 7 years.

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