Ripple Chief Technology Officer (CTO) David Schwartz has taken a new approach. statement Regarding the possibility of recovering stolen funds $XRP ledger.
Schwartz ended hopes that the network’s “clawback” feature could be used to reverse illegal transactions involving native users. $XRP.
This clarification comes in the wake of a major security breach targeting the GTF and Apex communities.
fraud victim
The incident began when Global Trade Finance (GTF) aggregator X Account alerted the community that its VC wallet had been compromised by a “fake NFT offer.”$XRP Voucher fraud. ”
The breach reportedly affected the second largest liquidity pool (LP) holder in the project.
“This space is becoming increasingly unsafe. Can someone please escalate this to @JoelKatz?” the account implored.
One user suggested a potential lifeline. $XRP Controversial ledger “clawback” amendments.
“I thought there was a clawback mechanism, but $XRP. I hope you get all your funds back!,” the user wrote.
$XRP no publisher
Schwartz immediately intervened to clarify that $XRP No publisher. “No. Assets can only be recovered by the issuer. $XRP There is no publisher,” he said in X.
Most tokens on XRPL (stablecoins like RLUSD, wrapped Bitcoins, meme tokens, etc.) are “issued assets.” These are created by specific wallet addresses. Users must extend a “line of trust” to the issuer to be able to hold these tokens.
When issuers enable the “clawback” setting (introduced by the XLS-39 amendment), they retain the ability to forcefully retrieve tokens from users’ wallets. This is designed to allow regulated assets such as stablecoins to freeze funds or reverse fraudulent transactions.
$XRP It is the only asset on the ledger that is not issued by an account. There is no “publisher account” with the cryptographic keys needed to execute the clawback commands. This helps ensure that: $XRP Resistant to censorship.
