- $3M XRP theft from cold wallet; Brandon LaRoque affected.
- No official statement from Ellipal as of October 2025.
- Event raises security concerns for cold wallet users.
A North Carolina man discovered over $3 million in XRP vanished from his Ellipal cold wallet in a targeted theft reported in October 2025.
The incident highlights risks with cold wallet security and emphasizes vulnerabilities in safeguarding digital assets, despite using supposedly secure storage solutions.
In October 2025, Brandon LaRoque from North Carolina reported the loss of $3 million in XRP from his Ellipal cold wallet. LaRoque discovered the theft upon waking, sharing the incident on YouTube which was then amplified on social media platforms.
The targeted theft affected LaRoque, a long-time XRP investor, as his life savings vanished overnight. Despite investigations, there are no current statements from Ellipal’s executive team addressing the incident or claims. In LaRoque’s own words:
“I woke up and all my XRP was gone. This was supposed to be my retirement — for me and my wife.”
The theft has sparked significant concern within the XRP community, drawing attention to vulnerabilities in cold wallet storage. This is particularly alarming for retail investors relying on such devices for securing assets.
Financial markets show minimal direct impact, as the theft did not alter global XRP liquidity or trading volumes significantly. Nonetheless, it underscores the necessity for improved security protocols for wallet users.
The incident represents broader issues within cryptocurrency storage, specifically with cold wallets. While rare, such breaches highlight possible flaws in seed storage protection and user implementation of security measures.
This event points to the need for tighter regulatory considerations and advanced technological safeguards in cryptocurrency storage. Historical data on wallet breaches suggests continued risks for retail investors without proactive protective measures.
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