A North Carolina resident, Brandon LaRoque, reported the theft of $3 million in XRP from his Ellipal cold wallet in October 2025. LaRoque discovered the loss upon waking and shared his experience on YouTube, which quickly gained attention on social media platforms. The incident has sparked concerns over the security of cold wallets and the effectiveness of current measures to protect digital assets, despite their reputation for being secure storage solutions. Ellipal has yet to release an official statement regarding the theft.