$3M XRP Theft From Ellipal Wallet Traced After Viral Video, as blockchain sleuths uncover attacker’s trail converting funds through 120+ Ripple-to-Tron swaps via Bridgers (formerly SWFT). The U.S.-based victim’s loss highlights how user error and poor wallet security remain leading causes of large-scale crypto thefts.

A U.S.-based XRP holder lost about $3.05 million, or 1.2 million XRP, from an Ellipal wallet, and blockchain investigator ZachXBT traced the stolen funds through a laundering path that included more than 120 Ripple-to-Tron swaps via Bridgers, formerly SWFT. The theft was first amplified in a viral video from the victim, Brandon LaRoque, who said the funds were drained on October 12 and that he did not realize they were gone until later; Ellipal said the incident was not a hack of its cold-storage hardware itself, but likely resulted from the user importing a seed phrase into the app, effectively turning the setup into a hot wallet. The case matters because it shows how large crypto losses often stem from user confusion, wallet misconfiguration, or phishing rather than a direct breach of the hardware device. ZachXBT’s tracing also tied the laundering flow to Huione-linked OTC networks in Southeast Asia, underscoring how quickly stolen crypto can be moved across chains and through opaque off-ramps before law enforcement or exchanges can intervene.

✨ AI-generated background, compiled from web sources — not editorial content.

More coverage

• ZachXBT links $3M XRP theft to wallet-draining phishing ring (blockworks.com)
• ZachXBT Traces $3M XRP Theft to Southeast Asian Laundering Ring (ccn.com)
• $3 M XRP Hack: Ellipal 'Cold Wallet' Breach Explained (blackseedink.com)
• Three lessons for the crypto industry and users after $3M theft (cybernews.com)
• Ellipal Hardware Wallet Hacked, User Loses $3M in XRP to ... (mexc.com)

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