Ripple (XRP) Highlighted As Solution to SWIFT’s Security Lapses

Crypto researcher SMQKE drew attention to a recent webinar in which Ripple was highlighted as a potential security solution in the financial sector. In his post, he emphasized that the discussion included a direct comparison between Ripple and the Society for Worldwide Interbank Financial Telecommunication (SWIFT), particularly in the context of security standards. During the webinar, a speaker acknowledged SWIFT’s longstanding role as the dominant financial messaging system but raised questions about its vulnerabilities. The speaker asked whether Ripple could offer greater security than SWIFT, noting that while SWIFT itself is considered secure, its connections with external systems and institutions can expose the network to risks. RIPPLE HIGHLIGHTED AS A POTENTIAL SECURITY SOLUTION DURING WEBINAR AS 2016 SWIFT NETWORK HACK IS MENTIONED Listen. pic.twitter.com/BCXadwWrVW — SMQKE (@SMQKEDQG) August 15, 2025 Reference to the 2016 Bangladesh Bank Heist To illustrate this point, the speaker referred to the 2016 cyberattack on Bangladesh Bank, which remains one of the most notable security breaches linked to the SWIFT network. Hackers exploited vulnerabilities in the bank’s infrastructure, reportedly gaining access through a misconfigured router. Once inside, they obtained the bank’s SWIFT credentials tied to its account at the Federal Reserve Bank of New York. With those credentials, attackers were able to authorize fraudulent transfer requests, ultimately stealing $81 million. As the webinar recounts, much of the stolen money was laundered through casinos in Macau and other regions, with most of the funds never recovered. The case has since served as a critical example of how institutional weaknesses can compromise the global financial system. The speaker stressed that while SWIFT itself was not directly breached, its reliance on secure access credentials meant that any failure in a member institution’s security setup could create a point of entry for bad actors. This incident highlighted the broader issue that security in financial systems depends not only on the central network but also on the protections maintained by individual participants. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Ripple’s Position as an Alternative In raising the question of whether Ripple can mitigate such vulnerabilities, the webinar underscored the growing attention given to blockchain-based solutions in the international payments space. Ripple’s technology has often been discussed as an alternative to traditional systems like SWIFT due to its use of distributed ledger technology and cryptographic security features. Although the speaker did not make a definitive claim, the suggestion that Ripple could address weaknesses demonstrated in past incidents places it in a noteworthy position within the dialogue on global financial security. The framing of Ripple as a potential solution also reflects a trend where institutions and experts consider how blockchain-based infrastructures might minimize risks of credential theft and misconfigured security environments. The mention of Ripple in direct contrast to SWIFT during a security-focused discussion highlights the role of emerging technologies in reshaping expectations for financial safety. As institutions continue to evaluate both legacy systems and blockchain-based alternatives, the central issue remains whether new frameworks can provide resilience against increasingly sophisticated cyber threats. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Ripple (XRP) Highlighted As Solution to SWIFT’s Security Lapses appeared first on Times Tabloid .