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ADA SecondFi will permanently close its Cardano wallet and launch a three-step ADA recovery and compensation plan
SecondFi will permanently close its Cardano wallet, while prioritizing user compensation through a structured three-step ADA recovery and migration process. The development team has successfully targeted 129 million ADAs, launched the claims portal, and prepared audited migration tools to securely protect remaining user assets.
Zero-knowledge proof technology will be used to verify wallet ownership without exposing private keys, and users will receive guidance on preventing phishing attacks.
SecondFi will permanently close its Cardano wallet, and the team will divert all remaining resources to recovering stolen assets and compensating affected users. Instead of resuming regular operations, the development team has launched a structured recovery plan designed to help users safely withdraw funds after the June security breach.
According to SecondFi, the recovery work is supported by the Input Output Group and the Cardano Foundation, and a zero-knowledge proof compensation system is being developed. Users can verify the ownership of damaged wallets without providing mnemonics or private keys.
The plan stems from a security breach that occurred in June 2026 and involves 374 SecondFi wallets. The attacker used a vulnerability in the Android version of the wallet to steal 16.1 million ADAs (approximately $2.5 million). The development team linked the attack to Lazarus Group and explained that the vulnerability allowed an attacker to deduce a user's private key. However, the team had transferred unaffected assets to managed storage before further losses occurred, successfully locking in another 129 million ADA.
Recovery Roadmap: Claims, Migration and Compensation
SecondFi has launched the first phase of launching a simplified version of the claims system through an updated application. Affected users need to update their wallets first and then submit recovery requests through the integrated portal.
The second phase will introduce automated migration tools in mid-August. The tool will unpledge ADA and transfer assets such as tokens and NFTs to another Cardano wallet of the user's choice. The development team also reminds users not to uninstall applications or delete existing wallets before completing the migration process, which may complicate the recovery process.
The final phase will be to launch the zero-knowledge certificate refund portal in early September. The platform will undergo an independent cryptography audit in August before being officially launched.
At the same time, SecondFi warned users about phishing attacks targeted at it shut down. The team emphasized that they would never contact users via private messages and recommended downloading browser extensions only from the verified Chrome Web Store. Users should also verify each recovery link through the official SecondFi website before taking any action.
