$ETH $XRP $BNB šØ 7,300+ WALLETS DRAINEDā¦ OVER 12.4M XRP GONE! š³š
A major wallet security incident involving DāCENT has turned into a massive XRP loss ā and the most alarming part is that the draining reportedly continued even after warnings were issued.
š What Happened?
š¹ DāCENT confirmed a security breach affecting its App Wallet on September 16, after compromised private keys were reportedly exploited.
š¹ In the first wave, around 3.6M XRP was drained from approximately 1,682 wallets in less than three hours.
š¹ Attackers reportedly used both manual transfers for larger balances and automated scripts to sweep smaller holdings.
š¹ Even after public warnings, another 640K+ XRP was reportedly drained after September 21.
š¹ By September 25, total losses had reached roughly 12.4M XRP, estimated at around $18ā20M.
ā ļø The XRP Ledger itself wasnāt hacked.
The transactions were reportedly signed using valid credentials linked to compromised private keys ā making this a wallet/key-security incident rather than a protocol-level exploit.
š Then came the bigger problemā¦
A significant portion of the stolen XRP reportedly moved across chains through THORChain, making fund tracing and potential recovery more complicated.
š”ļø DāCENT has said it is working with law enforcement and has urged affected App Wallet users to generate new recovery phrases immediately.
š” The Bigger Lesson
Crypto security isn't only about the blockchain.
Sometimes, the biggest vulnerability sits one layer above it ā in wallet software, private-key handling, or how quickly users can be warned during an active breach.
And once stolen assets begin moving across multiple chains, recovery can become significantly harder.
š¤ What do you think?
Should wallet providers have stronger emergency systems to instantly alert affected users during an active breach ā or does self-custody ultimately mean users must remain the final line of defense?
#XRP #CryptoSecurity #WalletHack #DCENT #CryptoNews
A major wallet security incident involving DāCENT has turned into a massive XRP loss ā and the most alarming part is that the draining reportedly continued even after warnings were issued.
š What Happened?
š¹ DāCENT confirmed a security breach affecting its App Wallet on September 16, after compromised private keys were reportedly exploited.
š¹ In the first wave, around 3.6M XRP was drained from approximately 1,682 wallets in less than three hours.
š¹ Attackers reportedly used both manual transfers for larger balances and automated scripts to sweep smaller holdings.
š¹ Even after public warnings, another 640K+ XRP was reportedly drained after September 21.
š¹ By September 25, total losses had reached roughly 12.4M XRP, estimated at around $18ā20M.
ā ļø The XRP Ledger itself wasnāt hacked.
The transactions were reportedly signed using valid credentials linked to compromised private keys ā making this a wallet/key-security incident rather than a protocol-level exploit.
š Then came the bigger problemā¦
A significant portion of the stolen XRP reportedly moved across chains through THORChain, making fund tracing and potential recovery more complicated.
š”ļø DāCENT has said it is working with law enforcement and has urged affected App Wallet users to generate new recovery phrases immediately.
š” The Bigger Lesson
Crypto security isn't only about the blockchain.
Sometimes, the biggest vulnerability sits one layer above it ā in wallet software, private-key handling, or how quickly users can be warned during an active breach.
And once stolen assets begin moving across multiple chains, recovery can become significantly harder.
š¤ What do you think?
Should wallet providers have stronger emergency systems to instantly alert affected users during an active breach ā or does self-custody ultimately mean users must remain the final line of defense?
#XRP #CryptoSecurity #WalletHack #DCENT #CryptoNews
