An in-depth diagnosis of the hack focusing on Ripple co-founder Chris Larsen ideally suited week suggests there will seemingly be extra to the legend than meets the heed.

On Jan. 31, a hacker stole 213 million XRP tokens, value around $112.4 million on the time, from Larsen’s wallet and despatched the funds to a exchange of trading platforms, alongside with OKX, Kraken and Binance.

Blockchain security researchers at Hacken traced the float of funds both to and from the compromised wallet, and pieced collectively a extra detailed image of the events.

The researchers chanced on that funds from Larsen’s compromised wallet had been transferred to eight diverse wallets, just a few of which made subsequent transfers to intermediate wallets sooner than the funds within the kill ended up on the exchanges.

An incoming switch from one in every of these wallets, in dispute, stood out to researchers. A wallet contend with that begins with “rU1bPM4” had despatched $64.6 million in XRP to Larsen’s wallet within the past, and had furthermore made a switch of $37,500 in XRP to 1 in every of the intermediate wallets that had been concerned with the switch of stolen funds.

Hacken furthermore chanced on that the “rU1bPM4” wallet had despatched conclude to $2 million to a Kraken deposit contend with in 2020 – the equal contend with that the Larsen hacker used to funnel funds thru.

“Our investigation unearths a flowery network of transactions, with some main support to XRP. In this incident, two wallets linked to XRP’s licensed wallet performed key roles,” stated Hacken.

“It’s early for conclusions, nevertheless the legend is getting extra interesting,” it added.