SecondFi/Yoroi Wallet Migration FAQ

This guide explains how to move your assets out of SecondFi using the wallet migration tool, what happens during migration, and what to do afterwards. Please read it fully before you begin.

The basics

Why do I need to migrate my wallet?

Between June 21st and 23rd 2026, unauthorized transactions resulted in assets being removed from certain SecondFi user wallets. Following this event, and as previously announced, we made the difficult decision to wind down SecondFi and the Yoroi wallet.

Because the wallet is closing down, you need to move all your assets out of SecondFi to the newly created Cardano wallet (provided by a third party of your choice) that you control, before it shuts down. After that, you may lose access permanently.

The wallet migration tool is for all users who still have a remaining balance. Anyone holding assets in SecondFi needs to migrate whether or not their wallet was affected by the incident.

If your assets were taken in the incident, the recovery is handled separately through the recovery tool rather than through the migration tool.

You may be required to provide information, complete verification steps, or respond to further notices. The applicable recovery terms will apply.

My wallet was emptied in the incident. Do I still need to migrate?

If your wallet holds no assets because it was emptied during the incident, there is nothing to migrate. Your path is the recovery process. If your wallet is simply empty for other reasons, no action is required.

Keep your original wallet in the app and do not delete the application as they may be needed for asset recovery. If you have already submitted a recovery request, no further action is needed.

The recovery tool is a portal that users initiate themselves. We currently expect it to be available in early September and we will confirm the date as the security audit progresses.

Full guidance will be shared through our official channels.

What does the wallet migration tool do?

The tool is designed to transfer supported, available ADA and Cardano native assets detected in the source wallet to a newly created Cardano wallet that you control, from another provider of your choice.

This means withdrawing staking rewards, deregistering your stake key, and building a transaction that captures every token and NFT without leaving anything behind. The tool does all of that in a few guided, simple steps.

If your wallet is staked, it is automatically unstaked first so the available ADA, your staking rewards, and your recovered stake deposit can all be included in the transfer.

What counts as a successful migration?

A migration is complete when your source wallet is emptied: every ADA and native asset moved to your destination wallet with nothing left behind. The app confirms this with a "Cardano Asset Migration Completed" state.

When will the tool be available?

The tool is expected to launch in mid-August. Follow our official channels (@secondfiapp and @secondfi_jp) for the launch announcement and the full step-by-step guide. Please wait for official guidance before taking any action.

Do I need to do anything before the tool launches?

No. There is no action to take yet. If anyone shares migration instructions, links, or tools before our official launch, or claims to be helping you migrate, treat it as a scam.

Before you migrate

What do I need to prepare?

A destination wallet: a Cardano wallet that you control, created with another provider of your choice. Create this wallet before you start the migration so you have its receive address ready.

A properly configured hardware wallet can reduce exposure of private keys and is deemed the safest option. A hardware wallet keeps your keys offline, which protects your assets even if your device is compromised.

Which wallet provider should I choose?

There are several established wallets in the Cardano ecosystem, each with different features, so please do your own research on what works best for you. We do not endorse any single provider.

Can I send my assets to an exchange?

No. Exchange deposit addresses are not supported by this flow, and sending to one may result in the permanent loss of your assets. Multi-asset and NFT transfers to exchange deposit addresses are commonly lost, and exchanges vary in which Cardano assets they support.

Only send your assets to a wallet you own and control. During migration, you will be asked to confirm, via a checkbox, that your destination address belongs to a Cardano wallet you control and is not an exchange deposit address.

What about my non-Cardano assets?

Non-Cardano assets must be moved separately. We recommend that you follow your provider’s official instructions and, where possible, create a new multichain wallet that you control. Never enter a recovery phrase into a website, link, form, or application unless you have independently verified the software and understand that doing so may expose every account derived from that phrase. This migration tool moves your Cardano assets only.

I use a hardware wallet with SecondFi. Do I migrate in the app?

Based on the information currently available, we believe that Hardware wallets were not affected by the incident. Hardware wallets cannot be migrated in-app. Instead, set your wallet up with an new Cardano wallet provider,  using that provider’s official hardware-wallet integration. Your assets stay where they are. You are simply accessing the same wallet through a different provider.

I have more than one wallet. How does that work?

You migrate one wallet at a time and repeat the process for each wallet you hold. You can switch between wallets from your profile.

If multiple wallets were batched into one process, a single wallet with an issue, such as too little ADA for fees or an unusual asset, would stall the entire operation. Migrating each wallet separately means one wallet's problem never holds up the others.

The app keeps track for you: if other wallets in your account still hold a balance, you will see a "Wallets need migrating" card listing them so that no wallet gets left behind.

One of my wallets is already empty. Do I need to do anything with it?

No. An empty wallet has nothing to migrate and will show the "Migration completed" confirmation. No action is needed.

During migration

What are the steps?

1. Open the SecondFi app and tap the migration card on your home screen.
2. Enter the destination address of the Cardano wallet you want to migrate to. You can paste it or scan a QR code. Check it carefully, tick the confirmation checkbox, and continue.
3. Review each transaction. If your wallet is staked, the first transaction unstakes it; the send transaction then moves your assets. Each screen shows the amounts, the from and to addresses, and the network fee.
4. Sign to submit the transactions. Signing is confirmed with your biometric or password.

For the full step-by-step guide: https://youtu.be/vvh9SBwIDPI

Why do I see more than one transaction?
If your wallet is staked, migration involves an unstake transaction followed by a send transaction. The unstake withdraws your rewards and de-registers your stake key, and your recovered stake deposit is sent directly to your destination wallet, never back to the source wallet.

Very large wallets with many assets may also need more than one send transaction because a single Cardano transaction has a size limit. The app shows you each transaction to review, numbered (Transaction 1 of N), and keeps the number of times you need to sign as low as possible.

Note for hardware wallet users on other flows: a hardware wallet requires signing each transaction individually.

What does the app check before I can continue?

The destination address you enter is validated before you can proceed. The app blocks:

• Invalid addresses: anything malformed or not a valid Cardano mainnet address.
• Your own current wallet address: you cannot migrate a wallet to itself.
• Addresses linked to the incident: addresses connected to affected or quarantined wallets are blocked, and you will be asked to enter a different address.
• Validation checks only format, network compatibility, and identified blocked addresses; it does not verify ownership, security, legitimacy, exchange status, or recoverability.

The exchange-address check relies on your confirmation checkbox. Read the confirmation carefully before ticking.

Can a transfer be reversed if I make a mistake?

No. Blockchain transfers cannot be reversed once signed and submitted. If you enter the wrong address, use an exchange deposit address, or choose a wallet you do not control, your assets may be lost and may not be recoverable.

This is why the app asks you to review the destination address carefully and acknowledge that blockchain transfers generally cannot be reversed once submitted. Please verify the address and wallet provider before signing.

Are there fees?

Yes, standard Cardano network fees apply to each transaction. The exact fee is shown on the transaction review screen before you sign. You will see the estimated cost before proceeding with the transaction.

What happens if I close the app in the middle of the migration?

Nothing is committed until you sign. If you close the app before the signing step, there is no partial state. Simply restart the migration from the beginning when you return.

My wallet shows as empty but the migration says it's still in progress. Is something wrong?

No. Once you sign, your migration is pending on the blockchain and should complete in a few minutes. Confirmation times depend on Cardano network conditions and may be longer during congestion. Your wallet may show as empty while the transactions are confirmed. Each transaction appears as a pending, outgoing entry in the Recent activity section, so you can follow them until they confirm. Do not repeat the migration solely because confirmation is delayed.

A transaction failed. What do I do?

First check the transaction status in Recent activity and on a Cardano block explorer. Do not submit another transaction if the original is pending. If it is shown as failed, follow the in-app retry instructions and if the problem persists, contact support through the app.

After migration

How do I know my migration is complete?

The app shows a "Cardano Asset Migration Completed" confirmation once the transactions have confirmed on-chain, and the migration transactions appear as completed in Recent activity. Your destination wallet will show the received assets.

Do I need to do anything about staking or governance?

Yes. As part of the migration, your ADA was unstaked, so its stake pool and DRep delegations are no longer active.

To continue earning staking rewards and participating in governance, you will need to do two things from your new destination wallet: re-stake your ADA by delegating to a stake pool, and delegate to a DRep.

You will need to choose a different DRep. We recommend transitioning to a DRep with a proven voting record and strong delegation history. There are many in the Cardano ecosystem who are exceptionally qualified.

Should I delete my old SecondFi wallet or the app?

No. Keep the original SecondFi wallet in the app after migration. Do not delete the wallet or the application itself, as they may be needed for any asset recovery. Do not reuse the old wallet either; leave it as it is.

Deleting the app does not improve your security. It only removes something you may need later.

I was affected by the security incident. Does migration change my recovery request?

Migrating moves your remaining assets to safety; it does not affect your recovery request. Keep your original wallet in the app, as it may be needed for the asset recovery process. If you have already submitted a recovery request, no further action is needed on that recovery request.

I still have wallets left to migrate. Will the app remind me?

Yes. After each migration, the app shows any other wallets that still hold a balance under "Other wallets need migrating," with a wallet switcher so you can open each one and repeat the process.

Security

How do I know a migration guide or link is genuine?

Only trust guidance shared through our official channels:

• X accounts: @secondfiapp and @secondfi_jp
• Support portal: support.secondfi.io

Do not accept links from anyone, including people claiming to be SecondFi team members, support, or partners. If you receive a message like that, it's a scam.

There is no new application or link. The only official extension is in the Chrome Web Store and carries a blue verified check. When in doubt, go directly to secondfi.io/download and verify links yourself.

Will SecondFi ever ask me to send my assets to an address?

No. SecondFi will never provide a destination address or ask you to transfer funds to any address (including to an address controlled by SecondFi, its personnel, support agents, or a third party). In the migration tool, you must enter an address for a new wallet that you independently created and control. Anyone telling you to send assets to an address they provide is attempting to steal from you. 

Someone offered to help me migrate. Should I accept?

No. Never share your screen or wallet access with anyone offering migration help. The migration is designed so that everyone can complete it themselves in a few guided steps, and official support is available through the app if you get stuck.

Governance

The use of the tool is subject to the applicable migration and recovery terms, but do not rely on a hyperlink alone for material warnings.

Updated on: 20/08/2026