SecondFi Users Urged to Secure Remaining Assets Following Wallet Shutdown

SAN JOSE, Calif. — Cardano users with assets remaining in SecondFi wallets are advised to migrate their funds to a new wallet they control and remain alert to phishing and recovery scams.

Following the June 2026 security incident involving SecondFi, users are being advised to understand the difference between asset migration and recovery before taking any action.

SecondFi reported that approximately 16.1 million ADA across 374 wallets was stolen during the security incident between June 21 and June 23, 2026. The company subsequently announced plans to wind down its wallet operations.

For users whose wallets still contain assets, SecondFi’s current official migration process is intended to move remaining ADA, Cardano native tokens and NFTs to a new Cardano wallet controlled by the user.

How the SecondFi Migration Works

Users with remaining assets should:

1. Create a new Cardano wallet with a trusted provider.
2. Secure the new wallet and its recovery phrase.
3. Copy the new wallet’s Cardano receiving address.
4. Open the existing official SecondFi application.
5. Select the wallet migration option.
6. Enter and carefully verify the new wallet address.
7. Review the migration transactions.
8. Sign the transactions using the normal SecondFi authentication process.
9. Confirm that the assets have arrived in the new wallet.

Users should never enter their SecondFi recovery phrase into the migration tool.

Migration and Recovery Are Different

Users whose wallets still contain assets should follow the migration process. Those whose assets were removed during the security incident are dealing with a recovery case, which is separate from ordinary migration.

SecondFi has advised affected users to retain their original wallet and application because they may be required during the recovery process.

Users should also avoid assuming that one migration covers multiple wallets. Each SecondFi wallet should be checked and handled separately.

What Happens to Staking?

The official migration process also addresses staking-related activity.

For a staked wallet, the process may include unstaking, withdrawing available staking rewards, deregistering the existing stake key and recovering the stake deposit before transferring the relevant assets to the new wallet.

Once the assets arrive in the new wallet, users who want to continue staking will need to configure staking again.

Migration can also affect Cardano governance. Because the existing stake key is deregistered, previous DRep delegation may no longer remain active. Users who participate in Cardano governance should review their settings after migration.

Cardano Wallets Users Can Consider

There is no single wallet that is best for every Cardano user. Depending on their needs, users may consider established options such as:

• Eternl
• Lace
• NuFi
• VESPR
• Typhon
• Daedalus
• Compatible hardware-wallet solutions

Regardless of the provider selected, the destination wallet should be created and controlled by the user.

Users should never accept a wallet address or recovery phrase from someone contacting them through Telegram, Discord, X, email or another messaging platform.

Hardware Wallet Users Should Take Extra Care

SecondFi’s current guidance distinguishes hardware-wallet users from standard software-wallet migration.

Hardware-wallet users should not use the normal in-app migration flow. Instead, they may access their existing hardware wallet through another compatible Cardano wallet interface.

This distinction is important because changing the wallet application used to access a hardware wallet is not necessarily the same as transferring assets to a completely new wallet.

SecondFi Migration Scam Warning

The shutdown of a cryptocurrency wallet can create opportunities for scammers posing as support agents or recovery specialists.

Users should be particularly cautious of websites, applications or individuals claiming to offer:

• SecondFi wallet migration
• SecondFi recovery
• Wallet verification
• Cardano recovery
• Asset recovery services

SecondFi has warned users about fake applications, browser extensions and phishing attempts connected to the migration process.

Users should never:

• Share their recovery phrase or private key.
• Send ADA to someone claiming to facilitate migration.
• Install migration software from an unsolicited link.
• Give remote access to their computer or phone.
• Allow another person to create their destination wallet.
• Trust unsolicited “support” messages.
• Believe claims of guaranteed recovery of stolen assets.

Verify Every Transaction Before Signing

Blockchain transactions generally cannot be reversed once signed and submitted.

Before approving a migration transaction, users should carefully verify the:

• Destination wallet address
• Network
• Asset amounts
• Transaction fees
• Wallet provider

After migration, users should independently confirm that their ADA, native tokens and NFTs have arrived. They can also use a reputable Cardano block explorer to verify the transaction on-chain.

Key Advice for SecondFi Users

The most important principle is simple: the destination wallet must be controlled by the user.

Users with remaining SecondFi assets should use the official migration process, create a new wallet themselves, protect the new recovery phrase and carefully verify every transaction before signing.

Users affected by the June 2026 security incident should follow the separate recovery process rather than treating an emptied wallet as a normal migration.

Above all, users should remember:

Never share your recovery phrase. Never send ADA to a stranger for “migration.” Never trust unsolicited support messages. And always verify the destination address before signing a transaction.

For official information and the latest migration guidance, users should rely on SecondFi’s official channels rather than third-party links or messages.

Company Information

Company –  secondfi
Contact Person – lance
Email – lacewal1q@gmail.com
Website – https://secondfi.app