SecondFi shuts down after ADA theft

• SecondFi closed after hackers stole about 75,000 Cardano (CRYPTO:ADA).
• The theft was linked to a wallet vulnerability, according to the project.
• The team said users should withdraw remaining funds immediately.

SecondFi said it will shut down after hackers stole about 75,000 Cardano (CRYPTO:ADA) through a wallet vulnerability.

The project said the attack exposed a weakness in its wallet system and made it impossible to continue operating safely.

“We have made the difficult decision to discontinue SecondFi,” the SecondFi team said.

SecondFi urged users to withdraw any remaining funds and said it would help affected users during the shutdown process.

The team said it will continue investigating the incident and reviewing the security flaw that led to the theft.

SecondFi was built on the Cardano blockchain and offered decentralised finance services for ADA holders.

The incident adds to growing concerns about wallet security as decentralised finance platforms face increasingly complex cyberattacks.

At the time of reporting, Cardano price was $0.1758.