The D’CENT wallet hack became the second largest XRP hack this year, following the attack on the Bitget exchange, which resulted in the theft of 102.9 million XRP. In this incident, hackers managed to steal 12.4 million XRP from over 7,000 D’CENT wallets affected by the attack. The D’CENT wallet was popular among the XRP community; however, users holding assets from other blockchains also suffered losses. In its statement, D’CENT indicated losses on blockchains such as Bitcoin, Tron, and Ethereum; even a Stellar user lost XLM as a result of the incident.
Hackers were able to access funds by having one compromised recovery phrase for the multi-blockchain wallet. The manufacturer of D’CENT, IoTrust, confirmed at least 110 anomalous transfer requests, including assets unrelated to XRP. During the attack, which took place from September 15 to 20, hackers executed at least six waves of theft, draining 6,678 wallets and stealing 11.7 million XRP. The hackers started by targeting large wallets and then began using scripts to steal funds from increasingly smaller wallets.
Despite warnings from D’CENT and other members of the XRP community, hackers managed to steal 640,370 XRP after September 21, bringing the total amount stolen above 12.4 million XRP. By Friday, 6.3 million of the stolen XRP had been transferred to the Ethereum blockchain via the THORChain exchange service. With the rise of hacking attacks on other blockchains, experts acknowledged the scale of the losses, stating: "Most of them are no longer XRP." Amid concerns, D’CENT warned users that wallets created using their app are vulnerable and urged them to create a new recovery phrase and immediately transfer all funds, including tokens, NFTs, and any staked assets.
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