In a significant development following the recent hack on Ripple executive Chris Larsen’s personal accounts, Binance CEO Richard Teng revealed that $4.2 million worth of stolen XRP tokens have been identified and frozen. Teng shared this information on the X platform, stating that developers behind the XRP Ledger (XRPL) had notified exchanges about the exploit, urging them to monitor deposits linked to the exploiter’s wallet addresses. Binance has committed to supporting Ripple in its investigations and recovery efforts, closely monitoring the majority of funds still in the exploiter’s external wallets.

Responding to Teng’s post, Thomas Silkjaer, the head of analytics and compliance at the XRP Ledger Foundation, clarified that the stolen tokens belonged to Ripple co-founder Chris Larsen, not Ripple, the company. Silkjaer also asserted that the XRPL foundation was the first to investigate the exploit. This incident, involving the theft of 213 million XRP tokens, is considered the largest hack of 2024 so far. While the $4.2 million frozen by Binance is positive news, it represents only a small portion of the $113 million in XRP that the hacker stole from Larsen. Other digital asset exchanges, including OKX and Kraken, are yet to announce whether they have identified or frozen any tokens connected to the recent exploit.