Ripple ($XRP) chairman and co-founder Chris Larsen has had several of his personal accounts compromised and is cryptocurrency’s favorite on-chain sleuth. ZachXBT We have provided you with the details of the funds movement. Ripple is facing a potential $112 million hack, and investors are worried about how these stolen funds could impact the price of XRP.
At the same time as a giant crossing borders Top 10 Cryptocurrencies In the current market situation facing threats, smaller protocols are taking flight. Galaxy Fox ($GFOX) could go 10x and easily outperform Ripple this cycle. As the bull market heats up, presales are poised to continue to attract more funds and become the stars of 2024.
Ripple ($XRP) $112 million hacked
Ripple chairman and co-founder Chris Larsen was hacked, and those responsible quickly sent $213 million in XRP (about $112 million) to multiple exchanges in an attempt to launder money. With this news, the price of Ripple fell to $0.50, and it is not yet known whether the explorers were successful in withdrawing their funds.
Law enforcement agencies have already intervened, and large centralized exchanges like Binance are working to freeze stolen assets. Luckily, the affected wallet belonged to Chris Larsen and was not a Ripple wallet. There are already calls for management to disclose their holdings to introduce greater clarity and transparency.
This massive hack is one of the biggest hacks to occur so far this year. Luckily for Larsen, although he suffered significant losses, he still has a net worth estimated by Forbes of $2.9 billion. So despite this incident, he will be okay. Those who will suffer the most will be regular $XRP holders.
Putting hacking activities aside for a moment, adoption of Ripple’s services has increased, with more and more companies using the XRP Ledger to settle cross-border payments. $XRP remains ranked 6th among the top 10 cryptocurrencies, and analysts expect it to target a high of $1.57 in 2025.
Galaxy Fox ($GFOX) exceeds $3 million
Galaxy Fox is the project everyone is talking about, and this new hybrid token has seen incredible growth in recent weeks. With over $3 million and gaining momentum, this ICO is definitely one of the best cryptocurrencies you can buy right now. Expected to multiply 10x and surpass Ripple by the end of this year, more and more investors are paying attention to the Galaxy Fox story.
This protocol combines elements of the memecoin genre with P2E components. Growing demand for MEMCOIN and the continued revitalization of the P2E industry are rocket fuel for this small-cap stock. Players can earn money by playing this addictive runner game with prizes awarded at the end of each season.
You can also earn staking rewards from the Stargate module. This rewards hub accumulates 2% of all ecosystem transactions and pays it out to stakers. The new use of taxation introduces a direct link between ecosystem development and rewards, and further means no inflationary emissions for $GFOX.
Scheduled to launch later this year, $GFOX promises a very exciting price discovery phase, and anyone who doesn’t know how to buy a new cryptocurrency before its listing can learn through this pre-sale. As the market heats up, ICOs always attract more capital. And ICOs like Galaxy Fox, located in the Memecoin and GameFi narratives, are easy 10X projects.
Closing Thoughts: ICOs Will Rule 2024
Funding levels are always hot with positive vibes, and investors should adhere to the classic cryptocurrency adage: ‘Old coins are bad, new coins are good.’ The top 10 and major cryptocurrencies from last cycle will all significantly underperform new cryptocurrencies.
The future of the industry depends on promising companies like Galaxy Fox. Join the presale today and get one step closer to 10Xing your 2024 portfolio.
Learn more about $GFOX here: