A North Carolina man has reported losing over $3 million worth of XRP from his Ellipal cold wallet, highlighting a potential security vulnerability in the cryptocurrency space. Brandon LaRoque discovered the theft when he woke up on October 2025, sharing his experience on YouTube and social media. The incident, which affected LaRoque’s life savings intended for retirement, has sparked concern within the XRP community about cold wallet safety. Despite ongoing investigations, Ellipal hasn’t issued a public statement regarding the incident or potential causes. While financial markets haven’t experienced significant disruptions, this event emphasizes the need for robust security measures in cryptocurrency storage, especially for retail investors who rely on cold wallets for asset protection.