The Chief Financial Officer of TREASURY has issued a warning that exploiters could leverage crypto exchange Uphold to sell stolen XRP funds. In a recent tweet, Fredo Ayala, the Chief Financial Officer (CFO) of TREASURY, raised concerns that Uphold, a prominent U.S.-based crypto exchange, might unwittingly become a platform for the sale of stolen XRP.  […] The post Stolen XRP Funds May Move to Uphold, Industry Player Warns first appeared on The Crypto Basic.

Stolen XRP Funds May Move to Uphold, Industry Player Warns

The Chief Financial Officer of TREASURY has issued a warning that exploiters could leverage crypto exchange Uphold to sell stolen XRP funds.

In a recent tweet, Fredo Ayala, the Chief Financial Officer (CFO) of TREASURY, raised concerns that Uphold, a prominent U.S.-based crypto exchange, might unwittingly become a platform for the sale of stolen XRP. 

Ayala stated that a community member had contacted him regarding a compromised device, leading him to trace several wallets to an outbound payment from Uphold’s platform, initiating the chain of transactions involving the stolen funds.

The wallet that activated the culprit’s address is hosted on the Uphold exchange. As highlighted by Ayala, data from XRPL explorer Bithomp shares insight into the chain of events.

Per Bithomp data, the transaction in question  occurred  on May 23, 2023, with the wallet involved in the theft being  activated  on May 28, 2023. This wallet was activated by an address hosted on Uphold.

Ayala explicitly pointed out that the stolen XRP is currently residing in the recently-activated wallet. The exploiters  sent  the stolen funds to the wallet barely an hour after activating the wallet.

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