SlowMist: SecondFi Theft May Exceed $20 Million

On June 24, the Cardano ecosystem project SecondFi announced on social media that the team has identified the root cause of a recent security incident. The issue originated from their own Cardano network wallet generation software. The team has completed on-chain analysis to determine the extent of the impact. They are currently collaborating with a leading blockchain security company to conduct an independent technical assessment to verify their findings. The estimated overall impact is approximately 16 million ADA, and they are continuing to address related operational issues while committing to support affected users. In this regard, SlowMist founder Yu Xian stated that based on the funds from the hacker addresses assessed behaviorally, the theoretical losses for SecondFi users should exceed $20 million (over 129 million ADA and other tokens were stolen).