The Ripple Chairman Chris Larsen has moved 20 million XRP from the 50 million tokens he shuffled days ago.
Notably, speculations point to Binance as the ultimate destination of these 20 million tokens, given the historical movements associated with the recipient address. However, these remain unconfirmed at the reporting time.
Earlier 50M XRP Transfer
For context, one of the wallets belonging to the Ripple Chairman moved out 50 million XRP on Sept. 16, as previously reported by The Crypto Basic. This transaction was especially noteworthy, as the sending address had not recorded any substantial outflow since its creation in 2013.
Notably, the Larsen wallet first activated the recipient address rao…gzS with 11 XRP before eventually moving the 50 million tokens to the address. The address held onto the tokens until recently, when it moved a portion of it to another wallet.
Recent Movements Point to Binance
In a series of transactions last night, rao…gzS transferred 20 million XRP in four batches of 5 million tokens to an unknown address. The four transactions ran from 18:25 to 18:30 UTC on Sept. 20, all funneled to a single address, rHo…Spm.
Following the transactions, rao…gzS now retains 30 million XRP from the initial 50 million tokens it received. Now, rHo…Spm, the recipient address of the 20 million XRP, has held onto tokens at the time of reporting. However, its transaction history suggests it might offload them soon.
Bithomp
Notably, the wallet typically receives millions of XRP from various addresses and then retains them for some time before sending them out to Binance. This has triggered speculation that the 20 million XRP from Chris Larsen could be heading to Binance.
Meanwhile, another camp of speculators suggests the transactions could be linked to another hack. The Crypto Basic confirmed in February that similar transactions from another wallet belonging to Larsen was the product of a hack. The exploiters were able to steal about 212 million XRP from the wallet.
With the recently moved tokens now being shuffled across addresses, these hack speculations have resurfaced. However, as earlier noted, such speculations are unlikely to be correct. Notably, it’s been nearly five days since the first movements, and Larsen has not confirmed that he suffered an exploit.
