SecondFi Exploit Losses Soar to $20M as SlowMist Sounds Alarm

The Cardano-based wallet SecondFi has been hit by an exploit that could result in losses exceeding $20 million, according to blockchain security firm SlowMist.

Cos, the founder of SlowMist, reported that an address linked to the hacker has accumulated approximately 129 million ADA tokens, along with other cryptocurrencies.

SecondFi initially reported a loss of $2.4 million in damages roughly 13 hours after the vulnerability was exploited.

The discrepancy between SlowMist's independent analysis and SecondFi's initial report has raised questions about the full scope of the breach.