SecondFi security incident estimated to exceed $20 million in stolen funds

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SecondFi disclosed a security breach on June 24 related to its Cardano wallet generation software, with blockchain security experts now assisting in the investigation. Chain analysis indicates approximately 16 million ADA were affected. John Lu of SlowMist noted that hacker activity suggests losses could exceed $20 million, including over 12.9 million ADA and other tokens. The project is collaborating with a leading blockchain security firm to conduct a technical review. Contract security remains a primary focus as the team evaluates the full extent of the incident.

BlockBeats report: On June 24, the Cardano ecosystem project SecondFi posted on social media that its team has identified the root cause of the recent security incident. The issue stemmed from its proprietary Cardano network wallet generation software. The team has completed on-chain analysis to determine the scope of impact and is currently collaborating with a leading blockchain security firm to conduct an independent technical assessment to verify the findings. The estimated overall impact is approximately 16 million ADA. The team continues to address related operational issues and remains committed to supporting affected users.


Regarding this, Yu Xian, founder of SlowMist, stated that based on the movement of funds from the hacker address, the theoretical user losses from SecondFi should exceed $20 million (over 129 million ADA and other tokens were stolen).

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