SecondFi loses $2.4 million in Cardano wallet exploit

Finance SecondFi loses $2.4 million in Cardano wallet exploit SecondFi was hit by three separate attacks exploiting a flaw in its wallet generation software. A further 129 million ADA was secured by the team before attackers could reach it. By Oliver Knight | Edited by Cheyenne Ligon Jun 24, 2026, 3:45 p.m. 1 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on SecondFi suffers exploit (Clint Patterson/Unsplash) Summary Show SecondFi confirmed three external attacks drained 16 million ADA ($2.4 million) from 374 wallets via a flaw in its proprietary wallet generation software; a patch has been rolled out for unaffected users. The team rescued a further 129 million ADA before attackers could reach it, routing funds to a third-party custodian — but blockchain security firm SlowMist estimates total losses could still exceed $20 million pending an independent audit. Users cannot protect themselves by moving their seed phrase to another wallet; the vulnerability activates at the address level when a transaction is signed, and affected users must submit claims directly to SecondFi. SecondFi, the Cardano wallet formerly known as Yoroi, says it has patched a major exploit that drained roughly 16 million ADA, worth approximately $2.4 million, from 374 user wallets across three separate attacks. The root cause was a flaw in SecondFi's proprietary wallet generation software. The vulnerability sits at the address level, meaning simply moving a seed phrase to another wallet offers no protection. "The security risk occurs when an affected user signs a transaction," the team said on X. Before attackers could reach a further 129 million ADA, SecondFi said it triggered emergency rescue measures, routing the funds to an independent third-party custodian. An external accounting firm has been engaged to verify those holdings and affected users can submit claims to SecondFi. Blockchain security firm SlowMist estimates total losses could exceed $20 million when accounting for the full range of compromised wallets and tokens, a figure that remains unconfirmed pending an independent audit. Cardano founder Charles Hoskinson acknowledged the incident but noted the dollar amount was modest relative to other crypto hacks, though he stressed that offered little consolation to those affected. "It hurts them whenever they lose anything," he said. "This is the unfortunate reality of crypto." ADA is currently trading around $0.15, its lowest level since 2020. Hack Latest Crypto News 1 Trump refuses to sign law with U.S. CBDC ban, demands approval of elections bill 3 minutes ago 2 Ex-FCA policy insider explains the ‘great divide’ in the UK’s crypto ambition 23 minutes ago 3 Bitcoin just broke below the floor of its famous Rainbow Chart into the ‘BTC is dead’ zone hace 58 minutos 4 The banking lobby is wrong about stablecoins and community banks hace 58 minutos 5 Gold, silver and bitcoin tumble as 'debasement' trade unwinds hace 1 hora 6 Bitcoin could fall to $55,000 before finding a bottom, 10x Research says hace 2 horas 7 CoinDesk 20 performance update: Aave (AAVE) gains 5.9% as index moves higher hace 2 horas 8 CZ, Binance founder, wants to clear up 'misunderstandings' about who he is hace 2 horas 9 Aave could soar to $3,500 by 2030 on DeFi revival, says StanChart hace 2 horas 10 This forgotten coin could surprise everyone before its next halving hace 4 horas Latest Research CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. By CoinDesk Research Jun 15, 2026 In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. Why it matters : In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. View Full Report More From Finance YZi Labs ends proxy war with BNB treasury company CEA Industries Cboe revives S&P 500 binary options, chasing a market popularized by Polymarket, Kalshi Crypto critic Roubini joins tokenization boom with onchain 'Technodollar'