Hackers Steal $3M XRP! But Wait… 🤡

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Ah, the tragic tale of a soul who lost their life savings, all thanks to a cold wallet that was anything but! 💸

Summary

  • A victim, in a moment of folly, entrusted their life savings to a “cold wallet” that was anything but! 🧠
  • The hack occurred when the victim, in a fit of desperation, imported their seed phrase into Ellipal’s mobile app-how quaint! 😂
  • ZachXBT, the modern-day detective, traced the funds to a Southeast Asian laundering ring, as if it were a game of chess! 🕵️♂️

Self-custody, that noble art, is a tool as powerful as a sword, but only if one knows how to wield it-unlike our hapless victim, who treated it like a toy! 🧠

1/ A video went viral, showcasing the victim’s misfortune, as ZachXBT, the modern-day detective, unravels the mystery! 🤡

Here’s the tracing of where the stolen funds ended up and the biggest takeaways for similar thefts.

– ZachXBT (@zachxbt) October 19, 2025

On October 12th, the theft occurred, a tale of woe where the victim, in a moment of carelessness, imported their seed phrase into the mobile app-thus transforming their cold wallet into a hot one, ripe for the picking! 🔥

ZachXBT, ever the sage, explains that importing a seed phrase into a mobile app is akin to leaving the door unlocked while hosting a party-sure to invite trouble! 🧠

How Hackers Laundered $3M in XRP

The audacious hackers, in their quest for anonymity, used cross-chain bridges to swap XRP into TRX, a dance of transactions that would make even the most seasoned thief proud! 💸

After the laundering steps, the attackers moved all tokens into a single Tron wallet, making it easier to move the funds off-chain. For that purpose, they used OTC desks adjacent to Huione, a Southeast Asia-based illicit online marketplace. 🤠

ZachXBT reveals that Huione, a den of iniquity, is linked to hacks, scams, and money laundering-a place where the line between legal and illegal is as thin as a whisper! 🧙♂️

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2025-10-20 16:55