SecondFi Maps Out Recovery Plan After Massive ADA Hack

SecondFi, the Cardano wallet, has announced a three-stage roadmap to recover stolen funds after a June hack. In the attack, hackers stole 16.1 million ADA (worth about $2.5 million) from 374 SecondFi wallets by exploiting a vulnerability in the Android version of the app.

The project team managed to save 129 million ADA by transferring the funds to custodial storage.

According to the roadmap, users will first need to submit claims through a simplified ticket system. A migration tool will then automatically withdraw users' assets and transfer them to any other Cardano wallet selected by the user.

The third stage involves a zero-knowledge-proof-based portal that will allow affected users to prove they owned the compromised wallets and claim compensation without revealing their seed phrases or private keys.