SecondFi opens recovery portal after $21 million hack, sets 30 ADA payout for unrecoverable NFTs

News Editor

2026-10-07 19:31:53

SecondFi has launched a recovery portal for users affected by the June 2026 exploit tied to Cardano wallets, a breach the report describes as a $21 million hack. The portal lets victims verify compromised wallets and file claims for stolen assets, but compensation for NFTs that cannot be returned is capped at a fixed 30 ADA per item, or about $7.60. The company says claims will be assessed using an "incident snapshot" from the exploit, while warning that the snapshot is only an estimate and that final amounts may change. Users must also provide a newly created Cardano wallet to receive any recovered funds. According to the report, the process includes wallet verification, an estimated asset breakdown, creation of a zero-knowledge proof that can take up to 15 minutes, and a claims review period of as long as five working days. The launch came after repeated delays. The portal had originally been scheduled for August before being pushed back several times in September. Protos also highlighted a security concern in SecondFi’s official guide, which recommends entering the private recovery phrase of an exploited wallet into the company’s webpage. The report says that approach exposes users to risks including spoofing and man-in-the-middle attacks. The hack also led SecondFi to wind down operations and pushed Emurgo to give up handling its Token2049 booth.

SecondFi has launched a recovery portal for victims of the neo-finance platform’s $21 million hack involving Cardano wallets, according to Protos. The company says users whose NFTs cannot be returned will receive a fixed 30 ADA for each unrecoverable token, worth about $7.60.

SecondFi opens recovery portal after $21 million hack, sets 30 ADA payout for unrecoverable NFTs 2

Claims will be based on an incident snapshot

SecondFi said victims seeking to recover assets will be assessed using an "incident snapshot" tied to the June 2026 exploit of Cardano wallets. The company said the snapshot is only an estimate and added that "the final amount may differ."

For NFTs that cannot be returned for any reason, the project said affected holders will be offered "a fixed amount" of 30 ADA. Victims are also required to use a newly created Cardano wallet as the destination for any recovered funds.

Portal went live after repeated delays

The portal launched today after missing its original August target and being pushed back several times through September. It allows victims to verify affected wallets and submit claims for stolen assets.

Protos said SecondFi’s official guide recommends that users type the private recovery phrase of an exploited wallet into the company’s webpage. The report described that as an extremely dangerous suggestion, one that could expose users to spoofing, man-in-the-middle attacks, and other severe attack vectors.

Exploited wallet addresses are checked against the incident snapshot, and a tool then provides an estimated breakdown of assets eligible for recovery. Victims must submit a new Cardano wallet address to receive any recovered assets.

A zero-knowledge proof is then created, a step that can take up to 15 minutes. After that, the recovery claims process begins and can take as long as five working days.

Hack fallout reached operations and Token2049 plans

Protos reported that criminal hackers stole $2.4 million from Cardano wallets because of a "nonce derivation" issue that exposed users’ private keys. Around the same time, a mysterious white hat hacker took $18.5 million from Cardano wallets as part of the platform’s security response.

Since the incident, SecondFi has said it is winding down operations to focus on asset recovery. The report also said Emurgo, identified as Cardano co-founder and the creator of SecondFi, gave up handling its Token2049 booth as a result of the hack.

This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan.

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