XRP Investor Reports $3M Loss in Cyber Theft Incident
Long-time XRP investor Brandon LaRoque recently disclosed a significant loss of $3 million in XRP tokens. The theft was detected on Oct. 15 using cold wallet maker Ellipal’s mobile app, although the actual incident occurred on Oct. 12.
A veteran XRP investor, Brandon LaRoque, has spoken out about a staggering $3 million loss in XRP tokens following a cyber theft incident. The theft, which took place on Oct. 12 but was only discovered on Oct. 15, has shaken the cryptocurrency community.
LaRoque's cold wallet, managed through Ellipal's mobile app, was compromised in a well-coordinated attack, leaving him without access to his digital assets. The alarming nature of the security breach has raised concerns about the safety of cryptocurrency storage and the vulnerabilities that investors face in the digital realm.
The cold wallet maker, Ellipal, has attributed the theft to a seed import that ultimately compromised the security of LaRoque's wallet, turning it from cold to hot. This revelation underscores the importance of robust security measures in the realm of cryptocurrency investing.
As the investigation unfolds, the XRP investor community is on high alert, with many reevaluating their own security protocols to safeguard against similar attacks. The incident serves as a stark reminder of the risks associated with digital asset management and the vigilance required to protect against cyber threats.