News
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Nearly $20 million in XRP drained from 6,678 wallets across six attack waves
Nearly $20 million in XRP was drained from 6,678 wallets across six attack waves, according to XRPL. to, which traced the waves through Sept. 20. DCENT said exposed App Wallet phrases must be replaced, even on hardware.
Published:
Updated:
What happened
Nearly $20 million in XRP was drained from 6,678 wallets across six attack waves, according to XRPL. to, which traced the waves through Sept. 20. DCENT said exposed App Wallet phrases must be replaced, even on hardware.
Confirmed
Global impact / market context
The loss of nearly $20 million in XRP from thousands of wallets shows that stolen recovery phrases, which are secret words that restore a wallet, put holders at risk. DCENT says those exposed phrases must be replaced everywhere, even on hardware devices.
Confirmed
A $20 million XRP drain could make holders of that asset review how they store their secret wallet phrases, which are codes that restore access. That caution may extend to other digital assets if investors see similar wallet risks.
Analyst inference
What to watch
- XRPL. to traced six attack waves through Sept. 20 and reported 6,678 wallets drained of nearly $20 million in XRP. Watch for any further confirmed wallet losses. Confirmed
- DCENT said exposed App Wallet phrases must be replaced, even on hardware. Watch whether holders act on that advice and move XRP to wallets with newly generated recovery phrases. Proposed
- Watch whether the XRP drain leads investors to change how they secure other digital assets, since shared wallet practices could affect assets like ETH and RUNE mentioned in the article context. Analyst inference
Affected assets
- XRP — XRP
- RUNE — THORChain
- ETH — Ethereum