XRP Holders Beware: One User Scammed Out of $3 Million

Blockchain researcher ZachXBT revealed that a US user lost $3.05 million (approximately 1.2 million XRP) after his Ellipal hardware wallet was ￰0￱ stolen assets were reportedly transferred to the Tron network via Bridgers and then laundered through Southeast Asia-based OTC channels called ￰1￱ was recently sanctioned by the US for fraud and money ￰2￱ stated that it identified the victim's wallet address based on a viral YouTube ￰3￱ attacker reportedly executed more than 120 Ripple-to-Tron bridge transactions on October 12 ￰4￱ transactions appeared to have been made through Binance but the liquidity was provided by ￰5￱ of October 15 the funds were fully transferred to Huione-linked OTC ￰6￱ News: US Strategic Bitcoin Reserve Grew by 64 Percent Overnight - Here's What You Need to Know Huione is alleged to have played a role in laundering billions of dollars in illicit funds in recent years

including through “pig butchering” scams investment fraud human trafficking and ￰7￱ week

the US administration expanded sanctions against Huione as part of its $15 billion Prince Group ￰8￱ said one of the key lessons to be learned from the incident was that users don't know the difference between wallet types: The victim thought he was using Ellipal's cold wallet but it was actually a hot ￰9￱ confusion occurs on platforms like ￰10￱ also noted that the victim had difficulty contacting US law enforcement to report the $3 million loss as there were few experts qualified to handle such cases. *This is not investment ￰11￱ Reading: XRP Holders Beware: One User Scammed Out of $3 Million