SecondFi to shut down after $2.4 million ADA wallet theft

COINDESK ·

Cardano wallet SecondFi is shutting down after a software exploit allowed attackers to steal 16.1 million ADA ($2.4 million) from 374 wallets. The breach stemmed from a vulnerability in transaction signing software that enabled the derivation of private keys from blockchain transaction data. SecondFi will release wallet export tools in early August and a recovery portal later that month, though no distribution date for recovered funds is set. Cardano wallet SecondFi is winding down after attackers exploited a flaw in its transaction signing software to steal 16.1 million ADA, worth roughly $2.4 million, from 374 wallets. The service, which replaced EMURGO’s Yoroi wallet, said it will not resume normal operations despite patching the vulnerability.and at the time securing 129 million ADA before attackers could reach the funds. The flaw allowed attackers to derive private key material from transaction data visible on the Cardano blockchain, SecondFi said . The Cardano network itself was not compromised, and hardware wallet users were not affected. Groom Lake, the blockchain intelligence firm hired by EMURGO, found that the main attacker was sophisticated and well-funded. Some indicators point to North Korea’s Lazarus Group, though no attribution has been confirmed, the firm said. A separate attacker targeted another set of wallets during the same period. SecondFi expects to release wallet export tools in early August and a zero-knowledge recovery portal later that month. EMURGO has funded an asset recovery wallet, but no firm distribution date has been given. 1 Bitcoin retreats from one-month high as oil tops $85, inflation concerns resurface 42 minutes ago 2 Kraken parent expands tokenized stocks to Hong Kong, UK and South Korea equities 46 minutes ago 3 Balance stablecoin collapses 99% after $1 million exploit drains its bitcoin vaults 2 hours ago 4 Live updates: Bitcoin under $66,000 as traders await Alphabet earnings to gauge AI trade 3 hours ago 5 AI models escaped OpenAI’s sandbox and hit Hugging Face. Crypto is where that gets dangerous 5 hours ago 6 Bitcoin holds near $66,300 as chips extend their rally and the yen hits a 40-year low 6 hours ago 7 Crypto lobby group Digital Chamber sues Illinois to block digital asset tax 13 hours ago 8 Crypto Clarity Act still at mercy of ethics section as Democrats balk at Trump deal 14 hours ago 9 Bitcoin rally faces key test at $68,000 as 'summer slumber' grips crypto, analysts say 15 hours ago 10 White House pushes Senate Democrats to take 'historic' crypto Clarity Act ethics deal 17 hours ago In Q2; TRON's stablecoin dominance rose to 28.7%, USDT supply on TRON hit $89B ATH, $89M in protocol fees (2nd to Hyperliquid), TRX +3%, and deepening institutional & agentic reach.

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Cardano-based SecondFi suffered a $2.4 million ADA wallet hacking incident and ultimately announced the suspension of its operations. This security breach once again exposed the vulnerabilities of the DeFi ecosystem, dealing a direct blow to investor sentiment. Holders of related crypto assets must raise their awareness of platform security risks.

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