Preheat your oven to 350ºF (175ºC).
Prepare the red velvet cake according to the box directions using the water, vegetable oil, and eggs. Bake it in a 9×13 pan or jelly roll pan for easier crumbling.
Once the cake is baked, let it cool completely. Then, crumble it into tiny pieces and set it aside.
In the bowl of a stand mixer, beat the softened cream cheese and confectioner’s sugar until well combined. Add the heavy cream and vanilla extract, then continue mixing until stiff peaks form.
Line a large baking sheet with parchment or wax paper.
Using a small cookie scoop, scoop the cream cheese mixture into balls and place them on the prepared baking sheet. Chill the tray in the freezer for one hour.
After an hour, remove the cheesecake balls from the freezer and roll them in the red velvet cake crumbs until they are completely covered.
Refrigerate until ready to serve. Enjoy your delicious red velvet cheesecake balls!