Ellipal Wallet Hack: $3 Million XRP Stolen

A security incident involving an Ellipal hardware wallet led to a $3 million XRP loss for retiree Brandon LaRoque in North Carolina.

The incident highlights user error risks in cold-to-hot wallet transitions and raises awareness about security measures in cryptocurrency storage.

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XRP Worth $3 Million Stolen from Ellipal Wallet

ZachXBT noted, “Although the victim did not directly share the theft address… I found it by reviewing the date and amount… The attacker created 120+ Ripple -> Tron orders via Bridgers on Oct 12, 2025… By October 15, [funds] were laundered away to OTCs adjacent to Huione (illicit online marketplace in SEA).”

Retirement Assets Lost, Raising Security Concerns

The attack left LaRoque with the devastating loss of his retirement assets. Calls for stronger user education in crypto security have intensified, emphasizing the importance of understanding hot and cold wallet functionalities. Despite the large XRP loss, broader cryptocurrency markets did not experience volatilities. Community discussions emphasize education to prevent similar breaches rather than code flaws, while the US Treasury sanctioned Huione for its role.

Past Breaches Highlight Need for Better Security

Similar breaches, often due to misunderstandings of wallet states, have occurred. Ledger/MetaMask users have also faced losses from exposing key information. These events stress the importance of maintaining device security. Evolving laundering strategies have made fund recovery challenging. According to expert ZachXBT, rapid bridging makes recovery nearly impossible. Historical data points to persistent laundering trends that complicate incident investigations.

Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor.