A North Carolina resident, Brandon LaRoque, has experienced a significant financial loss after his Ellipal cold wallet was hacked, resulting in the theft of over 1.2 million XRP and a loss of more than $3 million. LaRoque shared his experience in a YouTube video, expressing shock and sadness at losing his life savings. The breach occurred on October 12th, but LaRoque discovered the theft four days later. The hacker began by making small transactions totaling 10 XRP each, then moved around 1.29 million XRP to a new wallet. This transfer involved utilizing various methods to obscure the stolen funds and disperse it across approximately 30 different wallets, with estimates ranging from 500 to 900 wallets. After reporting the incident to both the Internet Crime Complaint Center (IC3) and local authorities, LaRoque was met with frustration due to local authorities’ inability to handle cryptocurrency-related crimes. The theft has significantly impacted LaRoque’s retirement plans, as he and his wife were anticipating a move to Las Vegas and purchase of a new home, but now face the possibility of needing to return to work. Blockchain investigator ZachXBT linked the theft to a money laundering scheme in Southeast Asia, discovering that the hacker utilized Bridgers to transfer over 120 transactions from Ripple to Tron. Over-the-counter (OTC) services connected to Huione, an illegal marketplace sanctioned by the U.S. government, were utilized for money laundering purposes. ZachXBT suggests that LaRoque may have mistakenly used his Ellipal cold wallet as if it were a hot wallet, increasing the likelihood of this loss. The chances of recovering the stolen funds are considered to be low due to the prevalent skepticism surrounding recovery companies, with most being perceived as taking advantage of victims. Following the incident, Ellipal stated their commitment to directly assisting LaRoque in navigating this challenging situation.