DCENT App Wallet Alert: Who Should Move Funds and Who Is Outside the Warning

16 September 2026. IoTrust, the South Korean company behind DCENT, posted an urgent notice early this morning: abnormal asset transfers had been detected involving the DCENT App Wallet. An investigation is underway. If your funds are in the DCENT App Wallet, or if you reused the same seed phrase on a hardware wallet, DCENT is recommending you move your funds now.

What DCENT said

At 04:19 UTC, the official DCENT English X account posted an "Important Notice". Their exact words:

"We have detected abnormal asset transfers involving the DCENT App Wallet and are currently conducting an urgent investigation."

"Based on our initial findings, the issue appears to be limited to the DCENT App Wallet."

DCENT then named who they recommend should act immediately:

"If either of the following applies to you, we strongly recommend transferring your assets as soon as possible to a secure hardware wallet or another trusted wallet address:"

• "You hold any assets, regardless of amount, in the DCENT App Wallet."
• "You use the same mnemonic phrase for both the DCENT App Wallet and a hardware wallet."

The notice was also covered by Bloomingbit. I also posted a plain-language breakdown on X. DCENT said further updates will come from the official account once the root cause, scope, and response measures are confirmed.

What the App Wallet actually is

This is where most people get confused, so let me be specific.

The DCENT mobile app has more than one mode. It is not only a companion app for hardware wallets.

App Wallet (also called "Mobile App Wallet"): A software wallet built into the phone app. The seed phrase and private keys live on the phone, not on a hardware device. DCENT describes it as a free software wallet you can use before buying hardware. See the official product page and the App Wallet setup guide.

Hardware companion mode: When the same app is paired with a physical DCENT device, such as the Biometric Wallet or the DCENT S card. In this setup, the seed is created on the device and the private keys stay on the device. The phone app views balances and initiates sends. The device confirms and signs on its own screen using a fingerprint or PIN.

These are treated as separate wallet modes inside the app, each with their own recovery phrase. The warning covers App Wallet mode, and any hardware wallet that shares the same seed phrase as the App Wallet.

Who should move funds

Group 1: Anyone holding coins or tokens in the DCENT App Wallet, even a small amount.

Group 2: Anyone who used the same 24-word seed phrase in both the App Wallet and on a hardware wallet. If you imported the same words into both places, those two wallets control the same keys. If the App Wallet side is exposed, the hardware wallet using that same seed is exposed too.

If you fall into either group, here is DCENT's current step-by-step guidance:

1. Update the DCENT app to the latest version.
2. Do not make any transactions in the App Wallet before updating.
3. After updating, move your assets to a wallet you control that has never shared a recovery phrase with the App Wallet.

Who is not in those two groups

If you set up your DCENT hardware device, wrote down the seed words shown on the device screen, and never later typed or imported those same words into the software App Wallet, you are not in either group DCENT named.

DCENT's follow-up notice confirms: "No additional action is required for your hardware wallet if you have never entered or restored that hardware wallet's recovery phrase in the DCENT App Wallet." They also stated no impact from DCENT Hardware Wallets themselves has been confirmed to date. The root cause is still under investigation.

What we do not know yet

DCENT has addressed the hardware question (not impacted so far) and confirmed hardware-only users do not need to act. Still not published:

• The cause of the abnormal transfers (app bug, server-side issue, key leakage, malware, phishing, or something else)
• The number of affected wallets or the total amount involved
• Which blockchains were affected

Until the cause is confirmed, companion-app use is neither proven unsafe nor proven safe.

Watch out for scams

After a wallet company posts an urgent move-funds notice, fake support accounts move fast. They send DMs, post "official" looking links, and tell people to validate their wallet or send funds to a recovery address.

DCENT's email notice spelled out exactly what they will never do:

• Ask for your recovery phrase (mnemonic) or private key.
• Ask you to transfer assets to a separate wallet address for "asset recovery" or "compensation."
• Send recovery or compensation instructions, or wallet addresses, via DM, email, or social media outside official channels.

If you receive any message along those lines, it is a scam. Do not act on it. Use only the official support form for any questions.

My take

I have said this many times: a company's software wallet is not the same thing as that company's hardware wallet. The branded mobile app can still be a hot wallet. A hardware device is supposed to keep keys offline and force the user to confirm on the device screen.

DCENT itself pointed this warning at the App Wallet, not at the hardware. That is the clearest signal available right now. Nobody outside IoTrust knows the root cause yet. Do not write that the hardware is hacked. Do not claim the companion app is proven clean. What this notice confirms is that software wallets carry a different and usually higher risk than cold wallets. This is a live example of why that distinction matters.

Official links and next updates

• @DCENTWALLETS (English). Next updates will post here.
• @DCENTWALLETS_KR
• @DCENTWALLETS_JP
• dcentwallet.com
• Support / 1:1 inquiry

Not financial advice. This article covers an ongoing situation. Check the official DCENT accounts for the latest updates as more information becomes available.