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.
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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.
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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.
Cardano has opened public testing for a major throughput upgrade and advanced a mainnet hard fork, pushing forward the blockchain's most consequential architectural changes in years.
SecondFi disclosed a wallet-generation software breach on June 23, initially estimating losses near 16 million ADA, or roughly $2.4 million. External on-chain analysis warned exposure could exceed $20 million if suspected attacker-linked addresses involving more than 129 million ADA are confirmed. ADA traded below $0.
Cardano wallet SecondFi traced the incident to an address-level issue and secured 129 million ADA after attackers drained funds from 374 addresses.