SecondFi is ceasing operations 

In light of the security incident that occurred between June 21st and 23rd, 2026, we have made the difficult decision to cease operations.

Because SecondFi is ceasing operations, you must move all your assets out of the platform to a newly created Cardano wallet (provided by a third party of your choice) that you control, before it shuts down. After that, you may permanently lose access. A hardware wallet is recommended as an additional layer of security. Here is a list of supported Cardano wallets: cardano.org/wallets/

Who Needs to Migrate?

We strongly recommend that all SecondFi users migrate all of their assets out of the SecondFi app, whether or not you were affected by the incident, because SecondFi is ceasing operations. We've launched a wallet migration tool which is intended for all SecondFi users who currently hold any remaining Cardano balance in their SecondFi wallet.

The migration tool, available within the official SecondFi app or browser extension, transfers your entire Cardano blockchain balance, including all ADA, native tokens, and NFTs, to the destination address of a newly created Cardano wallet from a provider of your choice.

The migration tool moves Cardano assets only; non-Cardano assets must be moved separately. We recommend following your new provider's official instructions and, where possible, creating a new multichain wallet that you control.

If your ADA is currently staked, the tool will unstake it so the full amount can be included in the transfer. This means your DRep delegation will no longer be active, so you will need to delegate to a DRep again from your new wallet to continue participating in Cardano governance.

Before You Migrate: What to Prepare

You will need a destination wallet: create a new Cardano wallet from a provider of your choice and have its destination address ready. The wallet must be one you control. Do not use an exchange deposit address, as exchange addresses may, among other issues, cause delays, loss of access, or permanent loss of assets. A hardware wallet is recommended as an additional layer of security, since it keeps your private keys offline.

Based on the information currently available, we believe hardware wallets were not affected by the incident. If your SecondFi wallet is connected to a hardware wallet, skip the in-app migration process. Instead, set up your wallet with a new Cardano wallet provider using that provider's official hardware wallet integration. Your assets remain where they are, you are simply accessing the same wallet through a different provider.

SecondFi personnel and support representatives will never ask you to send, disclose, read aloud, or share your seed phrase or private key. The sole exception is the official asset recovery tool, which may prompt you to enter your seed phrase directly into the tool itself, as described below, never to a person. Be cautious of unsolicited messages, links, websites, or applications claiming to offer access to the migration tool.

Migrate wallets one at a time. If you have more than one, repeat the process for each, the app will identify any that still hold a balance.

Before confirming any migration, carefully verify the destination wallet address. Malware and browser extensions can alter or replace an address in your clipboard between copying and pasting, so check the entire address, not just the first and last characters. Blockchain transfers cannot be reversed once signed and submitted.

During Migration: Do Not Add Funds to Your Wallet

Migrating your Cardano wallet does not require topping it up or funding it with ADA, there is no scenario in which this process requires you to add funds first.

If your wallet balance is insufficient for network fees, do not add funds to it. Simply wait for the next version of the wallet migration tool, which will support these wallets.

Migration takes place within an updated version of the official SecondFi application you already have installed, or the official SecondFi browser extension, there is no separate migration application, standalone migration website, or new application to install. The only official extension is in the Chrome Web Store and carries a blue verified check.

For a comprehensive guide on how to complete this process, please refer to the Wallet Migration Guide and FAQ or watch this step-by-step walkthrough.

After You Migrate

As part of the migration, your ADA will have been unstaked, so its stake pool and DRep delegations will no longer be active. To keep earning staking rewards and participating in governance, you will need to re-stake your ADA to a stake pool and delegate to a DRep from your new destination wallet.

If you have more than one wallet, the app will show any that still hold a balance under "Other wallets need migrating," with a wallet switcher so you can open each one and repeat the process.

Keep the original SecondFi wallet in the SecondFI app after migration, do not delete the wallet or the SecondFI application itself, as both may be needed for any asset recovery. Do not reuse the old wallet(s) either. Deleting the app provides no security benefit; it only removes something you may need later.

For Users Affected by the Incident: The Asset Recovery Tool

If your wallet was impacted by the incident, the asset recovery tool is the process for you. It is separate from migration and addresses assets affected by the incident.

The recovery tool is a self-service portal that you initiate yourself. It allows SecondFi users to assert ownership of their wallet and recover assets using zero-knowledge proofs. It is currently undergoing a ZK security and smart contract audit. We expect it to be available by September.

The SecondFi asset recovery tool will be hosted on the official domain secondfi.io only. We will publish the link to the official asset recovery tool only through our official channels. Navigate to it independently through those channels, never by clicking a link someone sent you.

Please note the following regarding asset recovery:

• Do not delete the application: Keep the application installed and your original wallet in place, as both may be needed for the recovery process.
• Migration does not affect your claim: Migrating your assets has no effect on your claim or your eligibility for the recovery process.
• Seed phrase entry: The official asset recovery tool hosted only on the official SecondFi domain may require you to enter your seed phrase directly into the tool as part of the automated recovery process. This is the only circumstance in which SecondFi will ever require your seed phrase.  Enter it after independently navigating to the verified asset recovery tool through our official channels, never via a link sent to you, and only into the tool's input field itself. Never provide it to a person, support representative, direct-message account, third-party website, or third-party application, including anyone claiming to be SecondFi staff.
• No payment is required: No payment of any kind is required as part of the official recovery process. No third party can confirm eligibility, fast-track a claim, or improve your position.
• If you have already submitted a claim, no further action is required at this time.

Next Steps

We encourage all SecondFi users with a remaining Cardano blockchain balance to migrate as soon as possible. Those with non-Cardano assets must move them to a new multichain wallet separately, outside of the wallet migration tool. Please review the Wallet Migration Guide for detailed, step-by-step instructions on how to safely move your assets to a new provider.

We appreciate your patience and cooperation as we navigate this transition.

Our official channels are @secondfiapp and @secondfi_jp on X, and support.secondfi.io. 

Updated on: 28/08/2026