Cardano News: Charles Hoskinson said on June 25 that the identity of the “white hat” responsible for moving 129 million ADA—worth around $18.5 million—from compromised SecondFi wallets remains unknown, even to Emurgo, the company behind the platform.

During an X Spaces discussion titled “The Bingo Hall,” Hoskinson referenced comments from a contributor known as “Jer,” who attended a meeting between Cardano governance group Intersect and SecondFi developers. According to Hoskinson, an Emurgo representative stated that the individual behind the transfer is not known to the firm, or at least is not affiliated with it.

That distinction is significant, as it leaves open whether Emurgo lacks full visibility or is carefully managing its public position.

ADA has fallen 21% over the past two weeks, now trading near $0.145—levels not seen in years and roughly 95% below its all-time high.

Notably, the incident did not involve a breach of the Cardano protocol itself. Stakeholders, including Intersect and Hoskinson, have emphasized that the vulnerability was confined to the wallet layer. However, the reputational impact has been substantial, with markets reflecting the fallout.

SecondFi, formerly Yoroi Wallet and one of the largest Cardano wallet generators, was found to have a critical flaw in its key-generation system. Three attackers exploited the issue, draining approximately 16 million ADA (around $2.4 million) from 374 addresses across four separate incidents.

The larger transfer of 129 million ADA—now at the center of the controversy—has been described by SecondFi as an emergency protective measure. The funds were reportedly moved to an independent third-party custodian to safeguard affected users. Cybersecurity firm SlowMist estimates total exposure could exceed $20 million.

SecondFi took a final balance snapshot on June 26 and aims to reimburse users within two weeks, though it has cautioned that this timeline is not guaranteed. Users have also been warned not to move funds to new wallets, as actions outside official guidance may introduce additional risks.

Can ADA Hold the $0.145 Level?

ADA is currently trading near $0.145, down 21% over the past two weeks and well below key technical indicators, including the 50-day EMA at $0.1904, the 100-day EMA at $0.2248, and the 200-day EMA at $0.3006.

The Relative Strength Index (RSI) stands at 29, approaching oversold territory, while the MACD has turned slightly positive—suggesting that bearish momentum may be fading, though not yet reversing.

Immediate support is located at the $0.140 psychological level, with a structural floor near $0.1382. A daily close below $0.1451 would increase the likelihood of testing these levels.

On the upside, resistance is clustered between $0.1726 and $0.1737, where a descending trendline intersects with the 23.6% Fibonacci retracement. Further resistance levels include the 50-day EMA at $0.1904 and the 38.2% Fibonacci level at $0.1957.

Data from CoinGlass shows a long-to-short ratio of 0.72—the lowest in over a month—while funding rates remain negative at -0.0055%, indicating that short positions are paying longs, a potential contrarian signal.

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