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.
Everything is full of unknowns, so I wonder if there is any truth to all of this? The world is full of people who do stupid things, but if someone lost that much money this way, they should be given the Nobel Prize for the stupidest person of the year.
I read the news and it may be true, but the source is very incomplete
It doesn't say what model of wallet was used, it doesn't have the tx and it doesn't even say if it was BTC or other coins
There's no way of knowing if it's true or not
to the OP, if there is more and more complete news about this possible incident, please post it here so we know better how it happened