IoTrust, the South Korea-based company behind the DCENT wallet platform, has issued a critical security notice after detecting abnormal transfers involving its DCENT App Wallet on Sept. 16.
The company urged affected users to move assets as soon as possible to a secure hardware wallet or another trusted wallet address while it investigates the cause of the incident, its full scope, and whether any further steps will be required.
Security alert centers on the App Wallet
According to the notice, the issue currently appears to be limited to the DCENT App Wallet rather than the broader DCENT product lineup. IoTrust said the warning was issued after abnormal transfers were identified and users were told to relocate funds immediately as a precaution.
The company has not yet published a final explanation for what caused the transfers. Its Sept. 16 investigation is focused on determining how the incident occurred, how widely users may have been affected, and what additional response measures may be needed.
What users were told to do
The main instruction from DCENT was straightforward: transfer assets out of the App Wallet as soon as possible. The company said funds should be moved to a secure hardware wallet or another wallet address that users trust.
At the same time, the notice included a narrower clarification for some hardware-wallet users. Guidance tied to seed phrase handling said that if a user only connected a device and never entered the recovery phrase into the app, no action is needed.
Questions around seed phrases and wallet security
The incident has drawn attention to a familiar risk area in crypto security: how recovery phrases are stored and where they are entered. In its notice, DCENT highlighted that distinction while investigators continue to assess the source of the problem.
IoTrust also warned users to stay alert for impersonation and phishing attempts. That caution reflects a common pattern after security incidents, when attackers may try to exploit confusion around support messages, recovery steps, or wallet migration requests.
Company background and next steps
DCENT says its wallet platform was built by security specialists with backgrounds in Secure Element and Trusted Execution Environment technologies. IoTrust, the company behind the product, is based in South Korea.
For now, the confirmed next step is the ongoing investigation announced on Sept. 16. Until IoTrust provides findings on the cause and scope of the abnormal transfers, the company’s standing guidance is for App Wallet users to move assets promptly and remain cautious about fraudulent messages claiming to offer help.
Source: news.bitcoin.com