SecondFi reports a wallet software vulnerability may have exposed 16 million ADA and other tokens, with losses potentially exceeding $20 million.
SecondFi, a project within the Cardano ecosystem, has identified a security flaw in its proprietary wallet generation software as the root cause of a recent incident. Preliminary estimates indicate losses of around 16 million ADA, though analysis suggests the total could surpass $20 million when including other tokens.
The team has completed an on-chain analysis to assess the breach’s scope and is collaborating with a blockchain security firm for an independent review. SlowMist founder Cos stated that hacker fund flows and wallet activity point to potential losses involving over 129 million ADA and additional assets.
No immediate market reaction details were provided, but the incident highlights vulnerabilities in decentralized finance projects.