Former Ripple engineering director Nik Bougalis posted on the X platform that Ripple was hacked yesterday. Its co-founder Chris Larsen is not the first or last person to be robbed of XRP in this way. Multi-signature support requires multiple signatures in a transaction, but Chris Larsen did not use multi-signature or custody services, which is surprising. Key management and security are huge challenges, and existing tools are not always up to the task. Earlier, on-chain analyst ZachXBT revealed that Ripple was hacked and 213 million XRP, worth about $112.5 million, was stolen.
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Former Ripple Engineering Director: Ripple Lianchuang Chris Larsen did not use multiple signatures or hosting services with multiple signatures or custody services
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