Hackers siphon $3 million in XRP from US user’s wallet: ZachXBT

Blockchain investigator ZachXBT reported that a U.S. cryptocurrency user lost approximately $3.05 million in XRP due to a compromised Ellipal wallet. The stolen funds were traced through more than 120 Ripple to Tron swaps via bridges, consolidating on Tron before being dispersed to over-the-counter (OTC) venues associated with Huione by October 15th. U.S. authorities have previously linked Huione to massive money laundering for scams and cybercrime, recently proposing sanctions against affiliated entities. ZachXBT suggested the loss was likely due to user error, as the victim mistakenly believed they were using a secure cold-storage product when it functioned as a hot wallet. Given typical delays, the recovery outlook is considered low, prompting security experts to call for stricter controls from centralized exchanges and stablecoin issuers to curb OTC-based laundering.

(Source：The Block)