Crypto wallet provider Ctrl Wallet has announced its permanent shutdown following a recent security exploit. The company, which had over 650,000 monthly users and supported more than 2,500 blockchain networks, including Cardano and Midnight, will cease all services on August 3.
Ctrl Wallet is urging users to transfer their assets to another wallet or exchange before the shutdown deadline. Users can still recover their funds by importing their 12- or 24-word recovery phrase into a compatible wallet such as MetaMask, Trust Wallet, or Phantom.
The decision comes after a security incident affecting some Cardano wallets was disclosed on June 23. The company had placed parts of its platform in temporary maintenance mode while engineers investigated the issue and worked to protect user assets.