User Loses $71,000 in XRP, Here’s What Happened

Reports confirm that an investor recently lost XRP worth over $71,000 to hackers while using the Ledger wallet.

Vincent Scott, a publicly funded journalist, recently shared the story on X, revealing that the user lost 25,000 XRP, worth about $71,000, from his Ledger hardware wallet. 

Scanty Details Around the Hack

According to Scott, the victim said the loss happened while trying to log into Ledger Live, the app that connects to the hardware wallet. The post drew attention in the community, triggering discussions over whether the loss came from Ledger’s end or from a mistake by the user.

One of our people just got drained 25k XRP from Ledger

Yal.
Change your passcodes randomly

You never know what malware is installed in your cpu with some AI just waiting for you

Just ONE scam email or text or whatever can fuck you over

Then boom gone.

— VincentScott (@VincentSco72192) October 8, 2025

- Advertisement -

In his commentary, Scott warned others to change their passcodes regularly and stay alert for hidden malware that could be waiting to strike. Notably, he stressed that one careless click on a fake link or email could be enough to drain an entire crypto balance. 

Interestingly, when investors asked where exactly the breach took place, Scott explained that the user blamed Ledger Live. However, community members have taken to questioning the claim. 

Hardware Issue or User Negligence?

Specifically, some pointed out that Ledger Live doesn’t store crypto, as it only acts as a bridge between the hardware wallet and the blockchain. They also noted that Ledger Live always requires a physical connection to the hardware device before anyone can send funds, which makes a hack through the software itself very unlikely.

Others suggested that the victim might have exposed their recovery phrase or used a fake Ledger device. However, this claim remains unproven. Several users explained that scam websites and counterfeit Ledger wallets are becoming common, tricking buyers into giving away their private keys without realizing it.

Meanwhile, when someone asked how users could avoid similar attacks on Xaman, another XRP-compatible wallet, Scott advised them to keep their keys off their phones, take advantage of extra layers of security available on iOS and Android, avoid opening unknown links or attachments, and change their passcodes often. 

Also, he added that companies share responsibility when a hack happens due to their own negligence, but users must still follow good security habits. Scott said he uses Xaman because it runs on the secure XRP Ledger and adds multiple layers of protection.

Despite the discussions, it remains unclear exactly how the hack occurred. Per an investigation by The Crypto Basic, the victim revealed that someone posing as Ledger support on X had tricked him. 

The scammer responded to his legitimate inquiry, pretending to be the company’s official account. However, it is unclear if this event occurred after the hack or if the event itself led to the hack. So far, the victim has deleted all his public posts on the hack.

Growing Cases of Crypto Hacks: How to Avoid Falling Victim

This case adds to a list of Ledger-related losses. For instance, in January 2024, one user from Reddit reported losing over $15,000 after entering their recovery phrase on a fake Ledger Live website. 

Also, in mid-2024, another lost around $300,000 even though they said their seed phrase was stored on paper. Others have reported losing tens of thousands through printed seed phrases, malware-infected apps, or tampered software downloads.

To avoid similar cases, users should protect their recovery phrases, only download Ledger Live from the official website, avoid suspicious links, use unique passphrases, keep firmware updated, and scan devices for malware before connecting wallets. Regardless of these cases, self-custodial wallets remain the better option for storing one’s crypto assets.