SecondFi suspended services after a wallet-generation flaw reportedly compromised ADA wallets, but validators stressed the Cardano protocol itself was not hacked.
Cardano's native token ADA experienced a dramatic collapse this week, reaching $0.139 on June 24 — a price level not seen since 2020. The sharp decline came in the wake of a significant security incident at SecondFi, the blockchain's most widely used wallet service.
On-chain activity and social dominance surge even as ADA trades near its December 2020 price floor
EMURGO Confirms $2.4M Loss, Emergency Recovery Fund Established for All Affected Wallet Holders
A total of 16 million ADA, equivalent to about $2.4 million, were stolen from 374 electronic wallets in four separate incidents. The emergency containment measures applied by the platform managed to protect 129 million ADA under third-party custody.
Cardano Foundation and SENAI São Paulo signed a multi-year strategic alliance to integrate blockchain into Brazilian industry. The first phase included two weeks of intensive technical training in São Paulo, with 130 R&D and education professionals onboarded. The roadmap includes certifications, industrial traceability pilots and Digital Product Passports for the manufacturing sector.
The Cardano wallet provider says the exploit stemmed from a signing flaw that exposed private keys and has identified two attacker groups behind the attacks.
Cardano (ADA) founder Charles Hoskinson has reaffirmed his long-term commitment to ADA, emphasizing he has never sold any ADA since 2017.
SecondFi, the Cardano wallet previously known as Yoroi, has announced that it has fixed a critical security vulnerability that resulted in the theft of approximately 16 million ADA, valued at around $2.4 million. The exploit impacted 374 user wallets across three separate attacks, raising concerns about wallet security within the Cardano ecosystem.
In yet another rather concerning development for the already struggling Cardano (ADA) ecosystem, the DeFi project SecondFi has been the victim of a significant exploit.
The Legal Context Protocol could redefine AI-driven commerce by ensuring legal enforceability, potentially stabilizing a $15 trillion market. Cardano Foundation joins coalition to launch Legal Context Protocol for AI transactions.
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.