$3 Million XRP Phishing Theft Linked to Sophisticated Scheme

Blockchain investigator ZachXBT has uncovered a $3 million XRP theft linked to a sophisticated phishing attack, targeting the Ellipal wallet of a US-based cryptocurrency holder. The funds were laundered through a Cambodian financial group. This incident raises concerns about wallet security practices and their impact on XRP market dynamics. 1.2 million XRP tokens were stolen following the victim’s mistake in importing their recovery phrase into an unsecured hot wallet, exposing the funds to the attack.