SecondFi to Shut Down After Flaw Exposes Private Keys, 16.1M ADA Stolen
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SecondFi will not resume normal operations after a deterministic nonce derivation flaw in its software signer exposed private keys in Cardano transaction data, affecting 374 wallets between June 21 and June 23 and enabling attackers to steal 16.1 million ADA (about $2.6 million). The incident did not compromise the Cardano blockchain but reveals a critical wallet-level Ed25519 signing vulnerability, prompting recovery and migration plans while raising security, custody and adoption concerns for crypto wallets, DeFi and DEX/CEX integrations.
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- SecondFi will not resume normal operations after a flaw exposed 374 Cardano wallets.
- Attackers stole 16.1 million ADA worth $2.6 million from affected wallets.
- SecondFi shifts to recovery and migration as users question the delayed timeline.
SecondFi said it will not resume normal operations after its investigation identified a deterministic nonce derivation flaw in its software signer that exposed private-key material through public Cardano transaction data. According to an official report, the breach affected 374 wallets between June 21 and June 23, enabling attackers to steal 16.1 million ADA worth $2.6 million.
However, the incident did not compromise Cardano’s blockchain. Instead, investigators traced the failure to wallet software and its handling of Ed25519 signatures.
Flawed Signing Logic Turned Public Data Into Private Keys
According to BlockSec, t…
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