5 days ago
On-chain information has revealed that Ripple co-founder and enforcement president Chris Larsen transferred $175 cardinal worthy of XRP crossed aggregate wallets successful the past week.
The plus movements, archetypal flagged by on-chain researcher ZachXBT, took spot betwixt July 17 and July 23.
XRP transfers
According to blockchain data, Larsen sent 50 cardinal XRP, valued astatine astir $175 million, to 4 abstracted addresses. Two of these addresses, receiving 30 cardinal and 10 cardinal XRP respectively, were aboriginal linked to crypto exchanges oregon third-party services.
The remaining 10 cardinal XRP was divided evenly betwixt 2 caller wallets, each receiving 5 cardinal XRP.
Despite these outflows, wallets tied to Larsen inactive clasp implicit 2.81 cardinal XRP, which translates to much than $8.4 cardinal astatine existent marketplace prices.
Last 10 TXRP Transactions From Chris Larsen Wallet (Source: XRPScan)XRP, the token underpinning Ripple’s cross-border payments network, precocious surged adjacent its all-time precocious of $3.40 earlier retracing by implicit 12% successful the past 24 hours, successful enactment with broader marketplace correction trends.
Scam warnings
The timing of Larsen’s transfers coincides with a surge successful XRP-related scams, prompting Ripple executives to contented renewed warnings.
On July 23, Ripple CEO Brad Garlinghouse took to X to caution the assemblage astir impersonators leveraging YouTube to beforehand fake giveaways and phishing campaigns.
According to him:
“Like clockwork, with occurrence and marketplace rallies, scammers ramp up their attacks connected the crypto assemblage — PLEASE BEWARE of the latest scam targeting the XRP family.”
While Garlinghouse didn’t uncover specifics, erstwhile incidents person progressive deepfake videos and fraudulent airdrops claiming to beryllium from Ripple. Victims are often lured to fake websites that inquire for wallet credentials, yet starring to plus theft.
Considering this, Ripple’s authoritative X relationship stated:
“Ripple oregon our execs volition NEVER inquire you to nonstop america XRP…Stay Vigilant.”
The warnings travel arsenic XRP enactment rises, making the web a premier people for fraud during periods of heightened marketplace attention.
The station Ripple co-founder moves $175M successful XRP successful a week amid scam surge warnings appeared archetypal connected CryptoSlate.
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