[ccpw id="39382"]

HomeCrypto NewsMarketRipple Unlocks 400M XRP from Escrow, But Txn Memo Stuns Community

Ripple Unlocks 400M XRP from Escrow, But Txn Memo Stuns Community


Written By:

Transaction memo on a recent Ripple escrow execution involving 400 million XRP stuns community members due to its strange nature.

- Advertisement -

Ripple has unlocked XRP tokens from its escrow wallets as part of its monthly escrow execution exercise. However, one of the escrow execution transactions involving 400 million XRP contains a particularly strange memo, sparking curiosity among community members about its origin and the entity responsible for it.

Well-known XRP community figure Mr. Intuitive first called attention to the enigmatic memo in a recent tweet. The community influencer conveyed his surprise and astonishment regarding the message’s content.

- Advertisement -

The memo was attached to an escrow execution transaction today at midnight. The transaction involved 400 million XRP, currently valued at $275 million. While the transaction appeared like an ordinary escrow execution, the memo stood out. 

It reads:

“Sedan is now Lambo, tepid jam is now hot jam, DAI’s rat is caught on a mouse trap. Now, Will Jeremy H’s broken dock & hacked twitter account be fixed? Will the party become a proper party? Will the revolution be televised? As a side, David, is the secret sauce a tepid sauce or a hot sauce?”

While the entire message is open to numerous interpretations, it does allude, in part, to happenings within the XRP community. The memo calls attention to Attorney Jeremy Hogan’s recently-compromised Twitter account. 

- Advertisement -

As The Crypto Basic reported last week, scammers hacked Hogan’s Twitter account to promote a bogus XRP giveaway on July 24. The memo asks if attorney Jeremy Hogan could recover his hacked Twitter account. This question comes a few days late, as Hogan recovered his account on July 29. 

The message on the memo also directs a question to Ripple’s Chief Technology Officer, David Schwartz. “Is the secret sauce a tepid sauce or a hot sauce,” it asks. 

The enigmatic nature of the memo has elicited varied community reactions, considering the fact that it could have come from a Ripple employee. Notably, the write-up style is similar to posts made by individuals within the XRP community who call themselves “Riddlers.”

Plausible Explanation

A close look at the address responsible for initiating the escrow transaction reveals that the individual behind the address has been involved in messages like this since 2019. A similar memo was seen in an escrow transaction involving 1 billion XRP on April 1, 2019.

The XRP community is too stunned to guess who is behind the messages. However, some proponents already point to David Schwartz. Renowned for his jest and ability to connect socially with the community, Schwartz finds himself caught in the middle of the event. 

However, the most plausible explanation is that the memo might not have come from anyone within Ripple. It is important to note that anyone, regardless of whether they work for Ripple or not, can initiate an EscrowFinish or EscrowCancel transaction supposing the conditions are met. 

Considering this, it is reasonable to suggest that the memo was written by an XRP community member seeking to attract the community’s attention. However, this remains speculation without further information on the subject.

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

More from Author