The first thing to know about the Ripple platform is that it is an open source protocol designed to allow fast and cheap transactions. Unlike Bitcoin, which was never intended to be a payment engine, Ripple is showing that it will rule all international transactions worldwide. The currency of the Rippleis XRP and it is the card, which can be exchanged for any other card.
23 million XRP were recently stolen from the GateHub crypto wallet service . The equivalent in dollars is 9.2 million.
According to data analyst and Forbes editor Thomas Silkjær, the hacker behind this theft is in the process of cashing out Ripple’s XRP. He does this by sending it to other exchanges, such as Binance, Changelly, KuCoin, and Huobi.
Another crypto exchange, ChangeNow, spotted 2.5 million XRP being transferred to its platform and tried to block at least some of it. They managed to keep at least more than 500,000. While it wasn’t the entire amount, the help was certainly significant.
The extent of the situation has forced the authorities to make announcements to prevent more accounts from being affected. It already seems that over 18,000 XRP have been affected. According to the announcement, all customers who receive an email from the company should transfer their funds, no matter how much, to a GateHub wallet.
Smartereum says that XRP will increase its price. Their prediction is based on the fact that Ripple has formed new partnerships, which could lead to more use cases for XRP.
It makes sense, then, that the more accounts are created and have to do with xRapid, the more well-known Ripple and XRP will become.
