Richard Teng, CEO of crypto exchange Binance, disclosed on Feb. 2 via a post on the social media platform X that the exchange acted swiftly to freeze the Ripple exploiter’s address following a substantial hack targeting the personal wallet of Ripple co-founder Chris Larsen. Teng expressed gratitude towards the Ripple team and the blockchain analyst ZachXBT for their efficient collaboration and support in addressing the theft. Contrary to initial speculation suggesting a compromise of Ripple’s network or the XRP token itself, Larsen clarified that it was his personal accounts that were breached, not the infrastructure of Ripple.