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Wallet vulnerability ≠ chain hacked, but users really lost their money—how should SecondFi apportion the blame?
The issue does not originate from the Cardano blockchain, but rather from a vulnerability in the software used to create the affected wallets.
Cardano was not hacked, although many users lost funds through SecondFi wallets.
SecondFi stated that preliminary on-chain review shows approximately 16 million ADA may have been lost, and it has hired a blockchain security company to conduct an independent review to identify the cause of the vulnerability.
SlowMist founder Cos estimates that if the two tracked Cardano addresses are confirmed to belong to the attacker, the losses could exceed $20 million.
SecondFi later warned users not to restore the mnemonic phrase to other Cardano wallets and advised affected users to submit a support ticket through the official support page and wait for further instructions.