Cardano
SecondFi wallet exploit drains 2.4 million in ADA
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SecondFi, the Cardano wallet formerly known as Yoroi, confirmed losses of 16 million ADA worth about 2.4 million dollars from 374 user wallets in three attacks. The firm secured an additional 129 million ADA before further drains occurred. A flaw in its proprietary wallet generation software caused the breach.
SecondFi says forensic investigations into a $2.4 million Cardano wallet exploit are complete. Users could begin receiving recovered assets in about two weeks.
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Cardano's ADA token has dropped to around 16 cents, its lowest level since December 2020. The decline followed comments from founder Charles Hoskinson and project setbacks. Social media attention and on-chain activity have increased sharply during the selloff.
Cardano founder Charles Hoskinson has cautioned that the cryptocurrency industry risks prolonged stagnation if it persists in fostering a culture of hostility and criticism. He highlighted this issue while introducing Midnight, a new blockchain aimed at enhancing privacy and adoption. Hoskinson emphasized that such negativity hampers innovation more than market downturns.
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Cardano's blockchain faced a temporary chain split on November 22-23, 2025, triggered by an AI-related node bug, but recovered swiftly without halting transactions or losing funds. Solana co-founder Anatoly Yakovenko commended the network's proof-of-stake stability, highlighting the challenges of securing such systems without proof-of-work. The incident underscored a decade of formal methods in Cardano's engineering.