US Crypto Investor Loses $3,000,000 in XRP in Devastating Hack
An American crypto investor says he just lost his retirement savings after hackers stole $3 million in XRP.
Brandon LaRoque, a 54-year-old from North Carolina, says he had accumulated 1.2 million XRP since 2017 as a retirement fund with his wife.
But according to blockchain researchers including ZachXBT, attackers drained the crypto on October 12th after initiating two 10-XRP test transfers, sweeping the rest to a new address.
LaRoque says the loss has turned he and his wife’s financial future upside down.
“That was our whole retirement for my wife and I. And I don’t know what we’re going to do. I guess we’re going to go back to work.
Fortunately, I did diversify into some metals, which thank God I did. Nowhere near anything like what I had in crypto. Crypto was supposed to be the touchdown.”
Ellipal says the loss is not due to a hardware flaw, but happened after LaRoque imported his hardware wallet’s seed phrase online, creating a hot wallet vulnerable to online risks like malware and remote attack.
“Our hearts go out to Brandon during this difficult time. No one should ever have to experience such a loss.
After discussing the situation with Brandon and reviewing the available details, we understand that this was not a cold wallet hack, but a hot wallet theft — meaning the wallet involved was connected to the internet.”
The funds went through over 120 Ripple-to-Tron swaps via Bridgers, consolidating on Tron before dispersal on Huione, a Cambodian entity sanctioned by US authorities.
Generated Image: Midjourney
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum News Update: ZKP’s Hardware-Centric Strategy Shakes Up Speculation-Fueled Crypto Presales
- ZKP launches with $17M pre-built Proof Pods, offering instant AI compute rewards via Wi-Fi-connected hardware. - Unlike speculative presales, ZKP's hardware-first model ensures operational readiness and decentralized network resilience. - Competitors like Blazpay and SpacePay focus on utility-driven crypto adoption, but ZKP's tiered, upgradable devices emphasize verifiable performance. - Ethereum's gas limit increase aligns with ZKP's distributed compute approach, addressing scalability challenges throug
Solana News Update: Investors Shift Toward XRP ETFs, Bringing Solana's 21-Day Inflow Streak to a Close
- Solana ETFs ended a 21-day inflow streak with a $8.1M net outflow on Nov 27, 2025, led by 21Shares TSOL's $34.37M redemptions. - This reversal contrasted with Bitcoin/Ethereum ETFs' $5.43B outflows and highlighted Solana's 7% staking yields and 70M daily transactions. - Analysts linked the shift to profit-taking, macroeconomic pressures, and investor rotation toward XRP ETFs with perfect inflow records. - Despite the outflow, Solana ETFs still hold $964M in assets, but face challenges as TVL dropped 32%
XRP News Today: Institutional ETFs Drive XRP to Compete with Bitcoin's Market Leadership
- XRP ETFs see $160M+ inflows as institutional demand surges, with Bitwise and Franklin Templeton leading the charge. - NYSE approves Grayscale and Franklin XRP/Dogecoin ETFs amid SEC easing altcoin fund approvals, signaling crypto normalization. - Altcoin Season Index at 25/100 shows Bitcoin dominance, but projects like Aster and Zcash outperform BTC by 1,000%+. - XRP rebounds to $2.06 with 48% volume spike, but 79M tokens absorbed by ETFs raise supply concerns. - Institutional-grade custody solutions fro
Public-Private Collaborations Driving Real Estate and Industrial Expansion in Webster, NY
- Webster , NY, leverages PPPs via FAST NY and NY Forward grants to boost infrastructure, real estate , and industrial investment. - Xerox campus upgrades and downtown revitalization projects enhance connectivity, attracting advanced manufacturing and logistics sectors. - $650M fairlife® facility creates 250 jobs, demonstrating how modernized infrastructure attracts high-value industries to secondary markets. - Websters model shows PPPs can drive sustainable growth by aligning public funding with private-s
Trending news
MoreCrypto prices
More
