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XRP Investor Alleges Theft of Thousands of Tokens from Ledger Wallet. Learn from the Incident

In a shocking development, an anonymous XRP investor recently shared a distressing account on YouTube after thousands of XRP tokens were allegedly stolen from her Ledger hardware wallet. This incident serves as a stark reminder of the potential risks associated with cryptocurrency storage and highlights the vital importance of implementing stringent security measures.

The Incident

The investor became suspicious when she plugged her Ledger wallet into her laptop to check her cryptocurrency balance. Instead of seeing her usual holdings, she discovered that only 10 XRP remained in her wallet.

Read Also: Here’s how Atomic Wallet Hackers Successfully Moved Over 22 Million XRP On XRP Ledger (XRPL)

Recognizing that something was wrong, she immediately contacted Ledger’s customer service for assistance. To her surprise, she was informed by the company that the issue might be attributed to a synchronization error or an essential update. However, harboring doubts, she suspected a more malevolent cause behind the discrepancy.

Attempting to allay the investor’s concerns, Ledger reassured her that her funds were safely stored on the blockchain and that there was no reason to panic. Trusting the company’s expertise, she followed their instructions and returned her Ledger device, requesting a replacement.

However, upon receiving the new Ledger wallet and connecting it to her laptop, her worst fear was realized. Astonishingly, thousands of XRP tokens had allegedly been transferred without her authorization to an unfamiliar wallet. This unauthorized transaction left her shocked and bewildered.

The Aftermath

Insisting that she had never shared her seed phrase with anyone, the investor asserted her commitment to safeguarding her private information. She promptly contacted Ledger once again, informing them of the unauthorized transaction and the loss of her XRP tokens.

Additionally, she reported the incident to the police and intends to enlist the assistance of cybersecurity experts to thoroughly investigate her laptop and determine what transpired.

Read Also: Ledger Warns XRP Holders of New Scam, Urges Vigilance

A Cautionary Tale for Crypto Users

Concluding her video, the investor issued a stark warning to other users of the Ledger hardware wallet, stressing the inherent vulnerabilities of these devices. She emphasized that while Ledger wallets are widely considered secure for storing cryptocurrencies, they are not impervious to hacking or theft.

It is worth noting that in her discussion, the investor mistakenly referred to these wallets as not being “waterproof,” likely intending to convey that they are not entirely “bulletproof” or invulnerable.

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Additionally, she expressed her determination to hold Ledger accountable for the loss of her funds, asserting that the company shares responsibility in this unfortunate incident. As the situation unfolds, she plans to keep her viewers updated on the progress made and the subsequent steps she intends to take.

This alarming account serves as a stark reminder that even with supposedly secure methods of storage, crypto investors must remain vigilant and actively implement robust security practices to safeguard their valuable assets.


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Adedoyin Aka
Adedoyin Aka
Adedoyin is a graduate of Law and a Crypto & Blockchain expert who strongly believes that Blockchain is the future. At TimesTabloid, she focuses on crypto and blockchain educational content.
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