Cardano Wallet SecondFi Shuts Down After Android Flaw Led to $2.4M ADA Theft

According to EMURGO, Cardano wallet SecondFi announced on July 22, 2026 that it will permanently cease operations following a critical security flaw in its Android application that resulted in the theft of 16.1 million ADA from 374 user wallets, valued at approximately $2.4 million when stolen in June.

The vulnerability originated from a June 8 software update that exposed sufficient transaction data for attackers to reconstruct users' private keys from public blockchain records. EMURGO confirmed SecondFi will not resume operations and is establishing a recovery team for affected users. The company is developing a zero-knowledge proof-based recovery portal expected to launch in August, along with wallet migration tools to help unaffected users transfer assets to alternative wallets.