Ripple Co-Founder Dumps $109M XRP; Solana's Pump.fun Offloads $212M SOL

Ripple co-founder Chris Larsen has transferred over $109 million worth of XRP to major cryptocurrency exchanges, according to on-chain investigator ZachXBT. The transactions, flagged by ZachXBT, originated from the XRP wallet address "rhREXVH...Etjna." While there is no official statement from Ripple or Larsen regarding the transfers, market participants have speculated on potential reasons, including liquidity management and sell-offs.

Meanwhile, Solana-based meme coin platform Pump.fun has continued offloading SOL tokens. On January 30, another 98,000 SOL was transferred to Kraken, bringing the total amount moved this month to 880,877 SOL. At Solana's price of $241 per token, the total offloaded figure is worth approximately $212.3 million. The consistent movement of SOL to exchanges has raised questions about potential sell-offs from market participants.

XRP is experiencing a notable increase in whale activity, with the number of wallets holding between 1 million and 10 million XRP reaching an all-time high of 2,083. This surge suggests growing confidence among large investors, as such accumulation often signals expectations of a price rally. On January 29, XRP briefly hit $3.20 before returning to $3.10, with analysts suggesting a decisive move past $3.40 could pave the way for a potential push beyond $4.

In a separate incident, the Solana-based platform DogWifTools suffered a $10 million exploit, targeting versions 1.6.3 through 1.6.6 of its software. Hackers accessed the project's private GitHub repository, injected malicious code into software updates, and distributed them to users. The malware installed a file named "updater.exe," which stole private keys and drained funds from hot and cold wallets. Victims also reported losing access to their Binance and Coinbase accounts, as the malware likely extracted sensitive identity documents.