A $150 million heist from Ripple co-founder Chris Larsen’s digital wallet has been traced back to a security lapse at LastPass, as detailed in a forfeiture complaint submitted by U.S. authorities on March 6th.
The complaint, brought to light by blockchain analyst ZachXBT, outlines how cybercriminals gained access to Larsen’s private keys stored in LastPass, a password management tool that suffered a substantial breach in 2022.
During the LastPass breach, cyber attackers infiltrated a developer’s account, facilitating the theft of source code and technical information. By November of that year, they had breached a cloud storage system, acquiring encrypted customer password vaults and unencrypted metadata impacting roughly 25 million users. While the vaults were secured with encryption, weak or reused master passwords could be manipulated, granting unauthorized access to confidential information.
- Zubby Michael Declares House of Reps Ambition After Joining ADC in Anambra
Nollywood actor Zubby Michael signals interest in contesting for House of Representatives after joining ADC in Anambra State. Full details and reactions. - 2027 Elections: Apostle Michael Orokpo Warns Nigerians Against Voting Incompetent Leaders
Apostle Michael Orokpo calls on Nigerians to vote out incompetent leaders in 2027, warns against tribal politics, and speaks on insecurity challenges. - Zubby Michael Joins ADC in Anambra – Fans React, Link Move to Peter Obi
Nollywood star Zubby Michael officially joins ADC in Anambra State, stirring reactions online as fans connect his move to Peter Obi. Read full details. - JAMB Delists 23 CBT Centres Across 12 States After 2026 Mock UTME Issues (Full List)
JAMB has delisted 23 CBT centres across Nigeria after technical failures during the 2026 mock UTME. See the full list of affected states and centres. - Kanye West Reportedly Reacts as Kim Kardashian & Lewis Hamilton Romance Gets Serious
Kanye West is reportedly having a hard time coming to terms with how serious things may be getting between Kim Kardashian and Lewis Hamilton.
These vulnerabilities were exploited, resulting in the theft of Larsen’s private keys and the subsequent theft of XRP worth $150 million at the time of the event, which has since soared past $600 million at current market values. ZachXBT pointed out that prior to this complaint, Larsen had not publicly revealed the details of the theft.
In January, Larsen acknowledged the incident, clarifying that the hack was confined to his personal accounts and did not affect Ripple’s corporate wallets. He has yet to provide any comments regarding the forfeiture notice.