01 - Preheat oven to 350°F. Grease and line a 9x13-inch baking pan.
02 - Combine cake mix, eggs, oil, and water in a large bowl. Mix until smooth, pour into prepared pan, and bake for 25-30 minutes until toothpick comes out clean. Cool completely.
03 - Crumble cooled cake into fine crumbs in a large bowl.
04 - Beat softened cream cheese and powdered sugar until smooth in a separate bowl.
05 - Add cream cheese mixture to cake crumbs and mix thoroughly until dough-like consistency forms. Scoop tablespoon-sized portions and roll into balls. Place on parchment-lined baking sheet.
06 - Freeze cake balls for 20-30 minutes until firm.
07 - Melt white chocolate chips with coconut oil in microwave-safe bowl in 20-second intervals, stirring until smooth.
08 - Dip each cake ball into melted white chocolate using a fork, allowing excess to drip off. Place onto clean parchment-lined sheet. Decorate with sprinkles while chocolate is wet.
09 - Refrigerate truffles for at least 30 minutes until coating is completely set.