SecondFi says it’s mapped out a recovery plan for users hit by this week’s Cardano wallet breach, and expects to start returning funds within roughly two weeks.
Emurgo, the team behind SecondFi, announced Saturday that forensic investigations are complete. CEO Phillip Pon said the next seven days will go toward building the recovery solution, followed by another week of testing before any assets move.
The company urged users not to migrate funds or take independent action. The recovery process is built around existing wallet states, and going off-script could delay or complicate things.
Tuesday’s exploit hit 374 addresses and drained about 16 million ADA — worth $2.4 million at the time. SecondFi traced the root cause to an address-level flaw in its wallet generation software that exposed private keys.
Since then, the team managed to secure roughly 129 million ADA through emergency measures. Those funds are sitting with an independent third-party custodian until verification wraps up.
Separately, SecondFi warned that scammers are already circulating fake messages impersonating the wallet while recovery is underway. The company says it will never ask for private keys, seed phrases, or wallet access. Users who need help should use the official support portal.
A full post-mortem detailing exactly how the exploit worked hasn’t been published yet.
