HomeCryptocurrency$2.5M In XRP Stolen from This Mobile Wallet. You Need to See...

$2.5M In XRP Stolen from This Mobile Wallet. You Need to See This Warning

Crypto enthusiast Cyber Scrilla recently warned Dcent wallet users to take immediate security measures after reports emerged that hackers exploited more than 1,500 wallet addresses, carting away over 2 million XRP worth $2.5 million.

The warning focuses on users of Dcent’s mobile wallet and others who exposed their seed phrases to the mobile application.

Dcent Mobile Wallet Users Face Immediate Risk

Cyber Scrilla said he received an email from Dcent warning that cryptocurrency was being moved from some users’ wallets without authorization. He then checked Dcent’s official social media channels and said the incident appeared to be genuine.

He explained that the situation currently appears to affect Dcent mobile wallet users. This includes users who created their seed phrases through the Dcent mobile wallet app. He also warned hardware wallet users who previously imported a seed phrase into the Dcent mobile app, saying those seed phrases should now be considered unsafe.

Cyber Scrilla noted that the attack remained ongoing while Dcent investigated the incident. He also said Dcent had not found evidence that its physical hardware wallets had been compromised, provided they had never been typed on the mobile application.

Cyber Scrilla Outlines Steps For Affected Users

Cyber Scrilla advised users not to transact through the Dcent app until they update it to version 10.0.0. After updating, he recommended moving funds to a new wallet or exchange wallet the user controls.

He stressed that the replacement wallet should use a completely new seed phrase that has never been used with the Dcent mobile application. He explained that cryptocurrency can only be secured after it’s transferred to a wallet using that new seed phrase.

He also explained how Dcent users can check which wallet they are using inside the application. Users can open the wallet selection menu and choose “Manage All Wallets.” If “App Wallet” appears as the selected option, Cyber Scrilla advised moving the cryptocurrency immediately.

Seed Phrase Exposure Remains A Key Concern

Cyber Scrilla suggested that a seed phrase exposure vulnerability could explain why users who originally generated their seed phrases through hardware wallets may also need to move their funds after importing those phrases into the Dcent app. However, he emphasized that Dcent had not confirmed the exact vulnerability.

He also warned users not to react to the incident through unofficial messages. Cyber Scrilla said scammers could use emails, social media posts, text messages, or phone calls about the vulnerability to target affected users.

He specifically warned users never to enter their seed phrases on websites or provide them in response to messages claiming to come from Dcent. He urged users to verify information carefully and avoid clicking suspicious links while the investigation continues.

Cyber Scrilla also suggested that users maintain a backup hardware wallet that supports the same cryptocurrencies as their primary wallet. He said having an alternative available could allow users to move assets quickly if another security incident occurs.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.


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Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.
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