XRP Ledger Security Breach Shows Why We Need Crypto Storage Solutions Like Best Wallet

The good news? $XRP discovered a serious security breach embedded in its JavaScript library, before the exploit was apparently used.

The bad news? XRP Ledger, one of the oldest blockchains, is used by thousands of programs and applications around the world. There are over 6M accounts on the XRP Ledger (XRPL), a figure that has grown 24% since January 2024.

Early Detection Essential to Avoid Disaster

Cybersecurity firm Aikido uncovered the critical backdoor in an NPM package tied to the XRPL ecosystem.

The malicious code was engineered to steal private keys, making it one of the more sophisticated blockchain attacks in recent memory.

On 21 April, the anonymous attacker inserted an infected JavaScript package – part of XRPL’s open-source stack – to include a backdoor capable of stealing cryptocurrency wallet credentials. The code would extract private keys whenever new ones were created and send the info to an external website.

Anyone who updated their software after the hacker struck would have downloaded the malware.

Aikido discovered the attack through Aikido Intel, its LLM-based monitoring system that constantly checks for code updates on public code managers.

Rapid-Response Teams Minimize Damage

The speed of response from Ripple and Aikido was impressive. Aikido discovered the attack only a day later, and XRP Ledger Foundation quickly pushed out an update.

With such a far-reaching attack, a quick response was vital. As Aikido pointed out:

‘This package is used by hundreds of thousands of applications and websites, making it a potentially catastrophic supply chain attack on the cryptocurrency ecosystem.’

The attack raises a bigger question, an ongoing one for crypto users: how can they better protect their assets in an era of rising attacks?

Specifically, what if there were a better way to store and interact with crypto, without sacrificing safety or convenience?

Best Wallet: Built for the Security-First Crypto User

Best Wallet offers a secure, all-in-one platform that answers the exact challenge exposed by the XRP incident.

It’s designed with military-grade encryption and a user-friendly interface that helps you store and swap cryptocurrencies and explore crypto presales all in one place.

There’s no need to worry about sketchy browser extensions or compromised code libraries, just instant access to one of the best Web3 wallets – no verification, ID, or KYC necessary.

Best Wallet app’s multi-chain compatibility lets users interact with a variety of networks securely. In the Upcoming Tokens feature, you’ll find curated token launches, helping users get early access to the best crypto presales while avoiding scams.

You can even set up multiple wallets to better organise your crypto investments. There’s a whole lot more to this non-custodial wallet, which you can read about in our Best Wallet review.

And now there’s a chance to supercharge your Best Wallet utility.

Best Wallet Token: Exclusive Presale for Supercharged Best Wallet

Best Wallet Token ($BEST) offers Best Wallet users increased staking rewards, access to premium features, and participation in wallet governance.

With reduced transaction fees, $BEST token holders will be able to get more out of their Best Wallet accounts. And with higher staking rewards, your crypto investments will go farther and earn more.

The $BEST presale is gaining steam; it has already raised over $11.8M. With the crypto market on the rebound, don’t miss out on a new meme coin with wallet-driven utility.

Learn how to buy Best Wallet Token in our guide, and see why we think the token price could reach $0.072 by the end of the year.

Why Best Wallet Could Lead the Next Security-Driven Wave

In light of the XRP hack, the industry is rethinking what ‘safe crypto’ really means. The early detection of the attempted hack and the quick response of the XRP Ledger team helped restore confidence in the token.

$XRP has now joined the rest of the market in a rebound, resulting in a lot of green across the board.

Best Wallet is ahead of the curve, fusing security-first design with the DeFi utility users crave.

Always do your own research. Crypto is volatile, and today’s market is no exception.

With meme coins on the rise and Layer-2 ecosystems growing rapidly, more users are jumping into Web3. They need tools that won’t leave them exposed.

Powered by $BEST, Best Wallet could redefine the standard for how wallets operate in a rapidly evolving market.