The XRP wallet of Ripple co-founder Jed McCaleb has experienced suspicious activity since July 2022, with several unsuccessful withdrawal attempts.
Key Takeaways
- Ripple co-founder Jed McCaleb’s XRP wallet has shown suspicious withdrawal attempts since July 2022, triggering speculation within the XRP community.
- McCaleb emptied his “tacostand” wallet in July 2022 after systematically selling off his XRP holdings, which originally amounted to about 9 billion XRP.
- Despite the wallet being depleted, automated withdrawal prompts, suspected to be driven by a bot, have persisted, attempting to withdraw amounts exceeding the remaining balance.
- The nature of the transactions, spanning from July 2022 to June 2023, indicates a bot-driven automated withdrawal process that continues even when the wallet has insufficient funds, suggesting a potential oversight in deactivating the withdrawal prompt.
Unusual Activity in Jed McCaleb’s XRP Wallet
Since July 2022, Ripple co-founder Jed McCaleb’s XRP wallet has been the center of attention due to a series of suspicious withdrawal attempts. Flipthechain, a crypto educational content provider, brought these attempts to the public’s notice, following out the Whale transactions began on July 17, 2022, soon after McCaleb had already depleted the wallet.
McCaleb’s Initial Withdrawal and Holdings
Jed McCaleb, one of the three Ripple founders, received 20 billion XRP as part of his share. However, he left Ripple in 2014 and initiated the systematic sale of his XRP holdings, amounting to about 9 billion XRP.
Ripple Co-founder XRP Wallet Displays Suspicious Activity https://t.co/53n3BZogpt
— 🇳🇱 MackAttackXRP® 🇳🇱 66K-XRP-Followers (@MackAttackXRP) January 8, 2024
Suspicious Withdrawal Attempts
Despite McCaleb emptying the “tacostand” wallet in July 2022, the wallet has witnessed subsequent withdrawal attempts, raising questions among XRP enthusiasts. These attempts, spanning from July 2022 to June 2023, involve trying to withdraw amounts exceeding the remaining balance, indicating a potential anomaly.
Bot-Driven Automated Withdrawals
A closer examination suggests that these transactions are likely a result of bot activity. It appears that McCaleb may have activated a bot to perform automated withdrawals at specific intervals.
To Conclude
The ongoing suspicious activity in Jed McCaleb’s XRP wallet, characterized by automated withdrawal attempts exceeding the remaining balance, raises questions about the implementation of a bot-driven process.
While community speculation initially leaned towards fund siphoning, a more nuanced understanding suggests an oversight in deactivating the automated withdrawal prompt, leading to continued but unsuccessful attempts.
