TechFlow News, June 24: SecondFi, a Cardano ecosystem project, stated that the root cause of its recent security incident has been identified as a flaw in its proprietary Cardano wallet generation software. The team indicated that it has completed on-chain analysis to assess the scope of impact and is currently collaborating with a blockchain security firm for an independent technical assessment. A preliminary estimate places the total impact at approximately 16 million ADA.
In response, Yu Xian, founder of SlowMist, stated that based on analysis of the hacker’s address fund flows and behavioral patterns, SecondFi users’ actual losses may theoretically exceed $20 million, involving over 129 million ADA and other tokens.
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