This is a nightmare scenario feared by every crypto investor who stores their coins independently. Due to a small lapse in attention, a 54-year-old American gave cybercriminals a chance to strike — and lost 1.2 million XRP.

The incident occurred when Brandon LaRoque discovered earlier this month that all his XRP tokens had disappeared from his Ellipal wallet. At the current rate, the coins were worth nearly $3 million USD.

"I’ve been accumulating XRP for the past eight years," LaRoque said in a YouTube video where he described the theft. "This was our entire retirement fund, and I don’t know what we’re going to do now."

The problem was that the man believed his funds were safely stored in cold storage. However, after importing his seed phrase into the Ellipal mobile app, the wallet effectively became a hot wallet — accessible to attackers.

According to an on-chain investigation by ZachXBT, the attackers converted the stolen XRP through 120 Ripple-to-Tron bridge transactions. Within three days, the assets ended up on OTC desks linked to Huione — a Southeast Asian payment network under US sanctions.

A similar but even more dramatic incident occurred recently when one crypto investor lost 2,000 Bitcoin within seconds to North Korean hackers.

In light of such crimes, a new and highly questionable “recovery industry” has emerged, exploiting victims’ desperation.

"Over 95% of companies offering ‘crypto recovery services’ act predatory — charging large sums for simple reports," writes ZachXBT.

He adds:

"Self-custody is not the right solution for the vast majority of people."

With modern security tools, two-factor authentication (2FA), and safeguards on centralized exchanges, storing funds there can now be simpler and safer than using personal wallets.

If you plan not only to trade XRP or other cryptocurrencies but also to ensure the secure storage of your assets, it’s important to choose a trusted and reliable crypto wallet. On FORECK.INFO, we’ve compiled a detailed ranking of the best crypto wallets for 2026 — covering mobile, desktop, hardware, and multi-currency options.

In the review, you’ll find comparisons of wallets by security level, supported currencies, fees, and functionality. This will help you safely choose a wallet for storing XRP, Bitcoin, Ethereum, and other assets without risking loss of funds. Explore the ranking, pick the option that suits you, and be confident in protecting your investments. And if you want to start trading and expand your portfolio, you can use platforms like OKX or others.