SecondFi Discloses Security Incident Affecting 16M ADA on June 24, Links Issue to Web Wallet Software

According to PANews, on June 24, Cardano ecosystem project SecondFi disclosed a security incident affecting approximately 16 million ADA (currently ~$2.42 million), attributed to a vulnerability in its native Cardano web wallet generation software. The team completed on-chain analysis and is conducting independent technical verification with blockchain security firms.

SecondFi remains in maintenance mode with full balance snapshots taken. The team has implemented protective measures for affected users' remaining assets and committed to compensation efforts. The platform is coordinating with Input Output Hong Kong, Cardano Foundation, IntersectMBO, and SundaeSwap to monitor fund flows and minimize impact on other protocols.