U.S. crypto holder loses $3 million in XRP after wallet compromise
A U.S. retail cryptocurrency investor has lost over $3 million worth of XRP after accidentally exposing their funds through a crypto wallet mistake, with on-chain blockchain sleuth ZachXBT tracing the stolen coins to a laundering network tied to Southeast Asia. ZachXBT reported on October 19 that around 1.2 million XRP ($3.05M) was drained from an Ellipal wallet belonging to the victim. The funds were quickly moved across blockchains more than 120 times using a swap service called Bridgers (formerly SWFT), which relies on Binance liquidity. 6/ One lesson our industry needs to do better with is not causing confusion with products when you offer both custodial and non-custodial products. The XRP victim thought they were using the Ellipal cold wallet product when it was a hot wallet. Frequently I see large Coinbase… pic.twitter.com/JZpkxOoOht — ZachXBT (@zachxbt) October 19, 2025 By October 15, the assets were consolidated on the Tron network and laundered throu...