A security breach was recently discovered in the open-source JavaScript library of XRP Ledger, one of the oldest blockchain networks, launched in 2012. Security firm Aikido, a blockchain security specialist, found some suspicious code in XRP’s JavaScript package that led to the discovery of a crypto-stealing backdoor. The XRP Ledger is optimized for payments and institution-focused decentralized finance (DeFi) applications.
The security incident in this case was an official NPM package that had been compromised with a crypto-stealing backdoor. Aikido announced the security breach on April 22.
XRP Ledger is one of the longest-standing blockchain networks, having launched in 2012. It’s focused on payments and DeFi applications to enterprise and institutions. The XRP token has a market capitalization of more than $125 billion. On top of that, its fully diluted valuation is more than $80 billion higher at nearly $300 billion.
XRP token finished the US trading day today up more than 3.5%. XRPScan, First Ledger, and Gen3 Games have all independently verified that they were not affected by this incident.
The XRP token has been on an absolute tear in recent months, largely thanks to a friendlier-than-expected US regulatory environment. This more welcoming US regulatory environment opens the door for even greater institutional adoption of XRP Ledger’s token and ecosystem projects. On April 21, Coinbase listed futures contracts for the XRP token on its US derivatives exchange, which is regulated by the CFTC.
The price of the XRP token surged by over 300 percent after Donald Trump won the November presidential election.
