D’CENT Wallet Hack Affects XRP, Bitcoin, and Ethereum Users
The D’CENT wallet hack, recognized as the second-largest theft of XRP this year, has expanded its reach beyond the XRP Ledger. Hackers have drained more than 12.4 million XRP from over 7,000 D’CENT wallets, trailing only the Bitget crypto exchange hack which resulted in a loss of 102.9 million XRP.
While D’CENT was primarily used by the XRP community, users holding assets on other blockchains have also suffered losses. The breach has affected Bitcoin, Ethereum, Tron, and Stellar users, as hackers exploit a compromised recovery phrase to access funds across multiple blockchains.
According to IoTrust, the maker of D’CENT, there have been at least 110 reports of abnormal transfers, including non-XRP assets. The theft occurred in multiple waves between September 15 and 20, with the majority of stolen XRP being transferred to Ethereum via the THORChain swap service.
In light of the hack, D’CENT has advised users to create a new recovery phrase and migrate their assets immediately. The incident raises significant concerns about the security of multi-blockchain wallets and the potential for further cross-chain exploits.
FAQ
What happened in the D’CENT wallet hack?
The D’CENT wallet hack resulted in the theft of over 12.4 million XRP from more than 7,000 wallets, affecting not only XRP users but also those holding Bitcoin, Ethereum, Tron, and Stellar due to a compromised recovery phrase.
How did the hackers access the funds in the D’CENT wallets?
Hackers exploited a compromised recovery phrase to gain access to funds across multiple blockchains, allowing them to drain assets from various wallets.
What should D’CENT wallet users do in response to the hack?
D’CENT has advised users to create a new recovery phrase and migrate their assets immediately to protect their funds from further theft.
When did the theft occur and how was it executed?
The theft occurred in multiple waves between September 15 and 20, with the majority of stolen XRP being transferred to Ethereum using the THORChain swap service.
What are the implications of this hack for multi-blockchain wallets?
The incident raises significant concerns about the security of multi-blockchain wallets and highlights the potential for further cross-chain exploits, urging users to be more cautious with their recovery phrases and wallet security.
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