ChainCatcher report: On Monday, EMURGO, the founding entity of Cardano, stated that the compromised wallet service SecondFi would not resume normal operations even after security audits, and urged all users to migrate their assets through the official recovery process. SecondFi is a rebranded version of the Yoroi wallet and is referred to by EMURGO as Cardano’s largest wallet provider. According to EMURGO’s incident report dated June 25, the service suffered four separate wallet theft incidents on June 22, compromising 374 addresses and resulting in the theft of approximately 16 million ADA (valued at around $2.4 million at the time). The team also secured approximately 129 million ADA through emergency measures. EMURGO stated that the compromised wallets should be considered permanently exposed at both the address and private key levels, and restoring affected mnemonic phrases to other wallets cannot eliminate the risk. EMURGO plans to launch an isolated wallet status verification tool this week, followed by a secure export tool and in-person migration workshops in Tokyo. Additionally, EMURGO is establishing a dedicated recovery fund for an on-chain restoration system, with plans to return assets to affected users following an external audit.
EMURGO Announces Permanent Shutdown of Hacked Cardano Wallet SecondFi
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Summary
EMURGO announced the permanent shutdown of SecondFi, a rebranded Yoroi wallet, following a security breach. The service will not resume after a security audit. A total of 374 addresses were compromised, with 16 million ADA stolen. EMURGO is preparing on-chain updates and a recovery fund. A wallet status checker will launch this week, followed by a secure export tool and an offline migration workshop in Tokyo. Users are urged to migrate their assets through the official recovery process.
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