SecondFi opened recovery portal for $21M hack victims, offering 30 ADA for lost NFTs. Portal delayed multiple times.
SecondFi, a Cardano wallet provider, has opened a recovery portal for users affected by the $21 million exploit on its neo-finance platform. However, for any NFTs that cannot be returned, the firm will compensate holders with about $8 per item.
According to SecondFi, victims seeking asset recovery will undergo an 'incident snapshot' evaluation derived from the June 2026 Cardano wallet exploit.
The snapshot is only provisional, and SecondFi states, “The final amount may differ.”
For NFTs that remain unrecoverable, SecondFi said it will provide a 'fixed amount' of 30 ADA, valued at roughly $7.60.
Victims must also designate a newly generated Cardano wallet as the destination for any recovered assets.
The portal was originally set to launch in August, but experienced multiple setbacks throughout September.
Through the portal, victims can check their compromised wallets and file claims for stolen assets.
Remarkably, the project's official documentation advises users to enter the private recovery phrase of a compromised wallet directly on SecondFi's site, a highly risky recommendation that exposes them to spoofing, man-in-the-middle attacks, and other severe threats.
The user's affected wallet address is cross-referenced with the incident snapshot, and a tool displays 'an estimated breakdown of any assets eligible for recovery.'
Next, victims must supply a fresh Cardano wallet address for the recovered funds. A zero-knowledge proof is generated, which may take up to 15 minutes, after which the recovery claims process commences, requiring up to five business days.
SecondFi hack forces Cardano firm to give up running TOKEN2049
Read more: Mystery deepens over Cardano wallet’s $18.5M white hat hacker
Criminal hackers managed to steal $2.4 million from Cardano wallets by exploiting a 'nonce derivation' flaw that revealed users' private keys.
Around that period, an unidentified white hat hacker removed $18.5 million from Cardano wallets in connection with the platform's security response.
Following the exploit, SecondFi declared it was winding down its business to concentrate on recovering assets. Meanwhile, Emurgo, the Cardano co-founder and creator of SecondFi, relinquished its Token2049 booth due to the hack.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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