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SlowMist warns Cardano project SecondFi losses could top $20 million

SecondFi, a project in the Cardano ecosystem, said its recent security incident stemmed from a flaw in its in-house Cardano wallet generation software. The team said it has completed on-chain analysis to gauge the scope of the breach and is working with a blockchain security firm on an independent technical review. SecondFi's preliminary estimate puts the impact at about 16 million ADA. SlowMist founder Cos (Yu Xian) said that based on the attacker's fund flows and wallet activity, actual user losses could theoretically exceed $20 million, potentially involving more than 129 million ADA as well as other tokens.
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