A US crypto investor suffered a major loss of $3.05 million worth of XRP after their Ellipal wallet was compromised, revealing the vulnerabilities of today’s DeFi landscape. The funds were not simply lost; they were moved across multiple blockchains, swapped through various bridges, and ultimately laundered into networks linked to the notorious Huione OTC group, which has been flagged by authorities for illicit activities. This case, uncovered by blockchain investigator ZachXBT, highlights ongoing issues with wallet misconfigurations and cross-chain laundering in crypto markets. 2025’s crypto landscape is riddled with security vulnerabilities, as witnessed in a recent on-chain analysis.