Douyin is the Chinese version of Tiktok, which means the person bought the cold wallet through the platform. I do not know if it is a hardware wallet but I guess it can be a collectible. I do not know the reason some people are just buying a wallet in collectibles which has been a means scammers used in the past to scam people, or maybe it is a cheap hardware wallet.

What I know about it is that the wallet is very cheap, the private keys are known to the people that sold it at some point. The victim likely see it cheap and bought it and transferred $6.9 million worth of coins there. I do not know the coins the that were lost.

https://www.bitdegree.org/crypto/news/tampered-wallet-from-douyin-drains-users-6-9-million-crypto