Cryptocurrency wallet maker Elipal has announced that it will discontinue its hot wallet service and focus entirely on cold wallet technology. This decision was made following recent allegations of XRP theft.
Elipal said in a statement that it will focus solely on cold wallet innovations and services to maximize user security. The company announced that it will end all hot wallet services as of October 31st, claiming that cold wallet technology is a key priority for cryptocurrency security.
Elipal advised current hot wallet users to move their assets to a new wallet address. The company also said it expects users to understand any disruptions that may occur during the transition and that support remains actively available.
Ellipal was in the news last week after a US-based user allegedly stole $3.05 million worth of XRP. In a detailed analysis of the incident, blockchain researcher ZachXBT revealed that the attackers performed over 120 Ripple-Tron conversions through the Bridger exchange on October 12, 2025, integrating the funds into the Tron blockchain.
According to ZachXBT’s findings, as of October 15, all stolen funds were laundered through an OTC desk linked to a Southeast Asian money laundering network called Huione. The network was found to be connected to a cryptocurrency ecosystem listed under US sanctions.
*This is not investment advice.
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