Chris Larsen, CEO of Ripple, has been hacked and lost about 213 million XRP, worth north of $110 million.
Larsen made it clear Ripple was not affected as his personal accounts got hacked.
The funds have apparently been laundered through various major platforms, including Binance.
The thing with crypto, some people think it's anonymous but it isn't.
I'm not sure why this fact is so often and largely ignored.
Each transaction on the blockchain is traceable, in perpetuity, so it really doesn't matter how many times or through how many platforms the funds are reshuffled and laundered, it'll always be possible to trace the original transaction, in this case from a theft, to the final transaction, for example an attempt to cash out from a CEX.
Adding transactions, or years, between these two points will simply slow down the process. This being a high-profile case, I'm sure we'll more about this soon enough.
