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-cryptoI am very familiar with this incident through my friends in China, they told me first and I was late to create topic about it, the fact that I was able to hold is that China markets is now full of stores selling hardware wallet at discount prices.
When you tell people to be careful of cheap things they will look at you as a money waster. Normally hardware wallets are not supposed to be sold out of the company like electronics.
It should be purchased directly from the hardware wallet companies, I can bet with anybody that any hardware wallet that is sealed and sold by third party merchants or stores are 90% possible to be tampered already especially the likes of Ledger wallets.
I blame the victim, he clearly can spend up to $500 on a hardware wallet, he should have gone with the highest air gapped wallet and straight from the company direct not some side road store.