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SlowMist Cosine: SecondFi stolen funds may exceed $20 million

2026-06-24 05:02:40

Abstract generation in progress

Golden Finance reports that on June 24, the Cardano ecosystem project SecondFi posted on social media that the team has identified the root cause of the recent security incident. The issue was found in their own Cardano network wallet generation software. The team has completed on-chain analysis to determine the scope of the impact. They are currently working with a leading blockchain security company to conduct an independent technical assessment to verify the findings. The estimated overall impact is approximately 16 million ADA, and they are continuing to address related operational issues, promising to keep supporting affected users.
In response, Cosine Yu, founder of SlowMist, stated that based on the behavior of the hacker addresses' funds, theoretically, SecondFi users should have lost more than 20 million USD (over 129 million ADA and other tokens stolen).

ADA-3.67%

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