Cardano News: Charles Hoskinson revealed on June 25 that the identity of the white hat hacker who moved 129 million ADA, or approximately $18.5 million, out of vulnerable SecondFi wallets is unknown to Emurgo, the company that built the platform.
Speaking during his X Spaces session “The Bingo Hall,” Hoskinson relayed second-hand information from a contributor named “Jer” who attended a meeting between Cardano’s governance body Intersect and SecondFi developers: “A member of the Emurgo team said that the identity of the white hat hacker is not known to Emurgo… or at least (Emurgo) said he was not affiliated with Emurgo.
This qualifier counts. This leaves open the question of whether Emurgo is truly in the dark or carefully managing his public visibility.
ADA price has fallen 21% over the past two weeks and is now trading near $0.145, a multi-year low that sits about 95% below the asset’s all-time high.
The crypto hack did not break the Cardano protocol; all parties from Intersect to Hoskinson have pointed out that the vulnerability lies entirely at the application layer of the wallet, but the reputational damage to the ecosystem is real and the market is pricing it accordingly.
Recovery process status
The team remains on track against the estimated 2-week recovery time, with substantial progress continuing as engineering teams work in parallel on multiple technical approaches to determine the most secure recovery solution for those affected… pic.twitter.com/79TKaoVJyD
– SecondFi (@secondfiapp) June 28, 2026
Recovery process statusSecondFi, one of the largest Cardano wallet generators and formerly known as Yoroi Wallet, suffered a critical flaw in its key generation software. Three external attackers drained approximately 16 million ADA ($2.4 million) from 374 addresses in four separate draining events.
The separate movement of 129 million ADA, the one at the center of the identity dispute, was presented by SecondFi as an emergency rescue operation, routed to “an independent and qualified third-party custodian” held for the benefit of the affected addresses. Cybersecurity firm SlowMist estimated the total exposure could exceed $20 million.
SecondFi took a snapshot of the final balance on June 26 and said it would return users’ lost assets within two weeks, although it cautioned that this timeline is not guaranteed and users should not transfer funds to new wallets in the meantime, warning that “independent actions taken outside of official guidelines create additional risks.”
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Cardano News: Can Cardano find a floor at $0.145?
ADA is currently trading near $0.145, down 21% over two weeks, well below its 50-day EMA at $0.1904, 100-day EMA at $0.2248, and 200-day EMA at $0.3006.
The RSI sits at 29, flirting with oversold territory. The MACD turned slightly positive, signaling a slowing of bearish momentum rather than a confirmed reversal.
Key support lies at the psychological level of $0.140, with a structural low around $0.1382. A daily close below $0.1451 directly exposes this zone.
On the upside, initial resistance lies between $0.1726 and $0.1737, the broken descending trendline combined at the 23.6% Fibonacci level, followed by the 50-day EMA at $0.1904 and the 38.2% Fibonacci retracement at $0.1957.
CoinGlass’s long/short ratio is 0.72, the lowest in over a month, with funding rates negative at -0.0055%, meaning shorts are currently paying longs, a slight contrarian signal.
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The post No One Knows Who Stole $18.5 Million in ADA, Including the Company That Built the Wallet appeared first on Cryptonews.
