$3 Million in Stolen XRP Tracked Down — But Recovery Looks Unlikely 💥
According to on-chain investigator ZachXBT, the $3 million worth of XRP stolen from U.S. investor Brandon LaRoque has already been laundered through OTC services linked to Huione Guarantee — a major illicit marketplace in Southeast Asia notorious for processing funds from scams, fraud, and human trafficking. Before the laundering, the stolen tokens were consolidated into a single Tron address.
💔 A Devastating Loss
Earlier this week, LaRoque’s emotional YouTube video went semi-viral as he revealed how he lost his entire 1.2 million XRP savings — tokens he had been accumulating for eight years.
LaRoque explained that he had stored his assets in an Ellipal wallet, believing it to be a fully offline cold wallet. Unfortunately, the device was still connected to the internet, leaving it exposed to hackers.
> “I thought I did everything right,” he said.
“My wife and I just retired and planned to move to Las Vegas… now we might have to go back to work.”
🧩 Ellipal Responds
In response, Ellipal stated it is doing “everything possible” to assist the victim, clarifying that the breach occurred because the seed phrase was imported into the app.
Blockchain analyst ZachXBT added:
> “The industry needs to do better at clearly differentiating between custodial and non-custodial products.”
⚠️ Recovery Chances Slim
Unfortunately, ZachXBT noted that the likelihood of recovering the stolen XRP is very low, as U.S. law enforcement often has limited jurisdiction in such cases.
He advised victims to contact qualified professionals in the private sector immediately—while avoiding predatory ‘recovery’ firms that often exploit victims further.
A harsh reminder that crypto security starts with full understanding of your wallet setup — one small mistake can lead to life-changing losses. 💔
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