SecondFi to shut down after hack steals 16.1 million ADA worth about $2.4 million
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SecondFi's shutdown after a 16.1M ADA (~$2.4M) theft highlights persistent wallet-layer vulnerabilities in the Cardano ecosystem, even as the underlying chain remains uncompromised. The breach impacted 374 wallets via a transaction-signing flaw, likely weighing on near-term risk appetite for Cardano-linked assets and raising scrutiny of self-custody software security, audits, and recovery processes. Hardware-wallet users were reportedly unaffected.
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Cardano wallet provider SecondFi said it will shut down after a vulnerability in its transaction-signing software was exploited to steal about 16.1 million ADA, valued at roughly $2.4 million. The breach affected 374 user wallets after sensitive cryptographic information was exposed through the flaw. The company said the issue has been patched, but it will permanently discontinue normal operations. Developers said Cardano’s blockchain was not breached and the incident was confined to wallet software, according to SecondFi.
