The XRP fork initiator is threatened, and Ripple Labs is again transferring $400 million worth of XRP

According to Trustnodes reported on September 1, Ripple Labs, the operating company behind XRP, holds about 50 billion XRPs. It has already transferred 1.5 billion pieces, worth about $400 million, or about 5% of the total market value.


Image source: visualhunt

On August 30th, a 500 million XRP (worth $132 million) transaction was reproduced on the XRP blockchain. The destination for this transaction is currently unknown, but the address appears to be activated by BitGo. Therefore, this may be just a gift from an "institution", or an off-exchange (OTC) transaction, or simply depositing an XRP into an encrypted hosting provider BitGo.

Today, 1 billion XRPs (worth about $250 million) were taken out of the escrow account with a strange note "Wol ha". What this means is not very clear, but it is reminiscent of the name of a Korean horror film "Wol-Ha: Very Bad Moon Rising."


Since June this year, the price of XRP has fallen by nearly half, currently at $0.25, which is 93% lower than the highest price of $3.4 in December 2017. The XRP price has a rebound demand at any time.

It is particularly worth mentioning that a well-known XRP trader named crypto BITLORD threatened to fork XRP and gave Ripple Labs a 60-day "ultimatum" to stop selling, otherwise "will launch a The community took over and said, "If XRP is a decentralized network like you said, we have the ability to do this." After six hours, he again pushed:

"I just got off the line soon, it made me chill. I have received a lot of death threats about the forked XRP. Some people have been personally attacking my past. For those who are kind, thank you for your support, we will See you soon." -crypto BITLORD (@Crypto_Bitlord) August 28, 2019

Since then, he has forwarded two articles, but did not further comment on what threat he received, nor did he point out who threatened it.

However, 50 billion XRPs are worth billions of dollars. If calculated at the highest price ever, its value will reach 200 billion US dollars, almost equivalent to the sum of the current total market value of cryptocurrency. It is still worth $12.5 billion now, almost the same as the current market value of XRP.

We don't know who the Twitter name is called Bitlord, but it seems that Ripple doesn't stop selling. On August 30th, XRP worth about $8 million was transferred to their off-exchange account. Whale Alert issues an alert:

300,000 XRP (worth $7,628,111) was transferred from the Ripple wallet to the Ripple off-site distribution wallet. Trading inquiry:

Since December 2017, Ripple Labs has estimated that it has sold $2.5 billion in tokens. Since then, the price of XRP has only begun to decline.

It’s still unclear what they are doing with this huge sum of money, but they themselves say they pay the bank or company the cost of using Ripple’s “products” in the form of “returns” and even pay them “marketing rewards”. ".

There are also some chandeliers installed in the San Francisco office, which are decorated with higher ceilings than the church, because they have pockets.

Some of the rest ($250 million) will be used to reward their partner companies because they have come up with very innovative projects and created a website where you can post articles using Alexa-like Chrome extensions. The goal is to deprive the news of independence by placing subscribers under this centralized project.

It is speculated that there is still a portion of the salary for Ripple's 400 employees and current CTO David Schwartz, but it doesn't seem to be enough, so he sold another 3 million XRPs in April. .

Since 2013, they have not sold for so many years, which makes XRP a deflationary currency. Now, however, 50 billion XRPs are coming into the market at a rate of 1 billion a month, and they are relentlessly cashing in between $250,000 and $500 million every three months.

Therefore, some investors have suggested that if the technology allows, it will be possible to fork XRP, but it is clear that the result is a death threat.