Dec 2022 - Ellipal Account Theft LockCertain4138 - $10k (Global)
"Self-custody, full control of what yours Recommended by Forbes Trusted by users in over 140 countries Store over 10,000 coins and tokens"
"Air-gapped cold wallet is always 100% isolated from the internet. It is fully protected from unauthorized access, cyber hacks, malware, and any online threats."
"ELLIPAL was founded by two encryption technology experts, David and Thomas, in 2018. The company focuses on one-stop solutions for cryptocurrency security and blockchain service ecosystem. Headquartered in Hong Kong, ELLIPAL has warehouses in various parts of the world, such as Australia, Germany, the United States, and the United Kingdom to quickly meet the demands of fast growing customers."
"During a blockchain meeting in 2019,David proposed the concept of a cold wallet 2.0 and he named this new concept "air-gapped cold wallet". David applied this solution to ELLIPAL’s product: the ELLIPAL Titan Cold Wallet. The ELLIPAL Titan is the market leader of large screen air gapped cold wallet."
"We create the most secure cryptocurrency cold wallet and share a portable and fast cryptocurrency service system with all of mankind."
"Yes. I’m sick of writing it. Look you all are going to learn when your accounts are stolen. Also i just sent a 100 Vechain of a a 473000 Vechain cold wallet account as a test run to a hot wallet. I only sent 100 the hot wallet i created on my ipad gave me a QR code and the 100 Vechain went to a totall;y different address that I’ve never seen. Not only that , about 3 minutes later the whole wallet besides about 4 dollars australian in Vechain was emptied to that same address without me touching a device. About 10000 dollars stolen. Once again I’ve been screwed by this ELLIPAL"
"I’m looking for people to make a collective demand to ELLIPAL because they leaked our private information to a third party people/scammers to take over our assets. Is not about the money they stole is about transparency this company never let us know that they leaked information fro Our wallets. Just a big collective demand will work again this shitty Hong Kong company."
"Sorry, but this is a b.s. claim and won't hold any grounds.
There is absolutely no way Ellipal, or anyone actually, is able to get the seedphrase or private key from the device. That's the whole point of an air-gapped device like this. The seed/private key stays completely isolated from the internet.
However, IF the seedphrase or private keys do end up somewhere on your phone or computer, it's because the user didn't use it properly the way it has been designed because the only piece of info on your phone or computer is the public key, which is just your wallet address. Nothing can be done with it except viewing the assets associated with it."
Further Analysis
Reddit user LockCertain4138 claims that their funds worth $10k US appear to have been taken from their Ellipal wallet. While they claim that the Ellipal device was somehow implicated in the breach, there is no evidence to support this assertion. It is unclear whether the theft was reported to law enforcement or investigated in any way.
How Could This Have Been Prevented?
More Cryptocurrency Exchange Hacks/Scams/Frauds
Defrost Finance V1 Key Compromise/Rug Pull > > < < Defrost Finance V2 Reentrancy Exploit
Sources/Further Reading
Scammed : ELLIPAL_Official (Dec 31)
#Bitcoin #Ethereum, #Litecoin, #ADA How to link your #coldwallet account to ELLIPAL App? - YouTube (Dec 31)
#Bitcoin #ETH #crypto #hardwarewallet How to use ELLIPAL Titan to send and receive transactions? - YouTube (Dec 31)
ELLIPAL - YouTube (Dec 31)
LockCertain4138 comments on Scammed (Dec 31)
ELLIPAL Official Website | Leader of Air-gapped Crypto Hardware Wallet
(Dec 31)
ELLIPAL Company Information
(Dec 31)
 t.me/QuadrigaInitiative
|
 /r/QuadrigaInitiative
|
 @QuadrigaInit
|
 info@quadrigainitiative.com
|