Cardano News: Charles Hoskinson said on June 25 that the identity of the “white hat” actor who moved 129 million ADA—worth about $18.5 million—from vulnerable SecondFi wallets remains unknown, even to Emurgo, the firm behind the platform.
Speaking on an X Spaces session titled “The Bingo Hall,” Hoskinson relayed comments from a contributor known as “Jer,” who attended a meeting between Cardano governance group Intersect and SecondFi developers. According to him, an Emurgo team member stated the actor’s identity is not known to the company, or at least that the individual is not affiliated with Emurgo.
That distinction is notable, as it leaves room for interpretation—either Emurgo lacks full visibility or is carefully limiting its public position.
ADA has fallen 21% over the past two weeks, now trading near $0.145—multi-year lows that place the token roughly 95% below its all-time high.
Importantly, the incident did not involve a breach of the Cardano protocol itself. Stakeholders, including Intersect and Hoskinson, have emphasized that the flaw was isolated to the wallet application layer. Even so, the reputational fallout has been significant, with markets reflecting the damage.
SecondFi—formerly known as Yoroi Wallet and one of the largest Cardano wallet generators—was found to have a serious vulnerability in its key-generation process. Three separate attackers exploited the flaw, draining about 16 million ADA (roughly $2.4 million) from 374 addresses across four incidents.
The larger transfer of 129 million ADA, which remains under scrutiny, has been described by SecondFi as a protective measure. The funds were reportedly moved to an independent third-party custodian to safeguard affected users. Cybersecurity firm SlowMist estimates total exposure may exceed $20 million.
SecondFi took a final balance snapshot on June 26 and plans to reimburse affected users within two weeks, though it has warned the timeline is not guaranteed. Users have also been advised not to move funds to new wallets, as actions outside official guidance could introduce additional risks.
Can ADA Hold $0.145?
ADA is currently trading around $0.145, down 21% over the past two weeks and sitting well below key moving averages, including the 50-day EMA at $0.1904, the 100-day EMA at $0.2248, and the 200-day EMA at $0.3006.
The Relative Strength Index (RSI) is at 29, nearing oversold conditions, while the MACD has turned slightly positive—suggesting weakening bearish momentum but not yet confirming a reversal.
Immediate support is seen at the $0.140 psychological level, with a structural low near $0.1382. A daily close below $0.1451 would increase the risk of testing those levels.
On the upside, resistance is clustered between $0.1726 and $0.1737, where a descending trendline aligns with the 23.6% Fibonacci retracement level. Additional resistance lies at the 50-day EMA ($0.1904) and the 38.2% Fibonacci level at $0.1957.
Derivatives data from CoinGlass shows a long-to-short ratio of 0.72—the lowest in over a month—while funding rates remain negative at -0.0055%, indicating short positions are paying longs, a potential contrarian signal.
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