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SecondFi: Cardano Ecosystem Wallet Project Faces $20 Million Loss Warning

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CryptoWorld News, SecondFi, a Cardano ecosystem wallet project, recently warned that it may face a loss of $20 million. The team stated that they have traced the recent security incident to their native Cardano web wallet generation software and have suspended affected services to review the full situation. In a security update, SecondFi said, "We have isolated the root cause of the recent security incident; the issue is limited to our native Cardano web wallet generation software." The team's on-chain analysis initially estimated the loss at approximately 16 million ADA. SlowMist founder Cos (Yu Xian) stated that the loss could far exceed SecondFi's early estimate, potentially involving over 129 million ADA and other tokens. SecondFi has not yet released a final technical report or detailed compensation plan, saying it will continue to share updates confirmed through independent review.
ADA-4.05%
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YieldYuki
· 6h ago
Suspension service review is a basic operation, but the compensation plan has yet to be announced, making SecondFi users' confidence hard to maintain.
View OriginalReply0
FloatingTeacupClub
· 6h ago
Problems can occur during the wallet generation process, and native features can become attack surfaces. Cardano's DeFi security infrastructure still needs to be strengthened.
View OriginalReply0
GateUser-7a050ee5
· 6h ago
Is there another issue in the Cardano ecosystem?
This round of 16 million ADA for SecondFi is just the beginning,
SlowMist says it could actually be 129 million,
Let's wait for the official audit.
View OriginalReply0
PaperhandsPoet
· 6h ago
A loss of 20 million dollars with no final report—what users are most worried about right now is not knowing exactly how much was lost.
View OriginalReply0

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