Woofun AI reports that EMURGO has announced the permanent cessation of SecondFi, a Cardano wallet service rebranded from Yoroi, following a significant security incident. The decision comes after four independent theft incidents on June 22 compromised 374 addresses and resulted in the loss of approximately 16 million ADA, valued at $2.4 million at the time. EMURGO stated that despite securing 129 million ADA through emergency measures, the compromised wallets remain permanently exposed at the address and private key level, rendering mnemonic phrase transfers ineffective. The organization plans to release an isolated wallet status check tool this week, followed by a secure export utility and an offline migration workshop in Tokyo.

Additionally, a special repair fund is being established to facilitate on-chain recovery and return assets to affected users pending external audits.