Hackers Steal $3.05M in XRP From Cold Wallet — ZachXBT Traces Funds

A shocking crypto heist has shaken the XRP community after hackers stole $3.05 million worth of XRP from a supposedly secure Ellipal cold wallet, wiping out an investor’s life savings.

According to prominent blockchain investigator ZachXBT, the victim accidentally compromised their wallet’s security by importing their seed phrase into Ellipal’s mobile app — a move that allowed hackers to take full control of the funds.

Within hours, the stolen XRP was laundered through a chain of wallets, which ZachXBT later traced to a Southeast Asian money-laundering network known for moving stolen crypto across multiple chains and exchanges.

The case underscores a critical lesson for all crypto investors: even cold wallets aren’t immune to breaches if seed phrases are mishandled or exposed. Experts are once again urging users to keep recovery phrases offline and never enter them into mobile or online apps.

As the investigation continues, the crypto community is demanding stronger wallet security standards and greater education to prevent others from facing similar financial devastation.