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Ahmed Barakat
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Cardano News: Charles Hoskinson revealed on June 25 that the white hat that moved ADA 129 million, about $18.5 million, from SecondFi’s insecure wallets is unknown to Emurgo, the company that built the platform.
Speaking at his X Spaces session ‘The Bingo Hall,’ Hoskinson provided information from an agent named ‘Jer’ who participated in a meeting between the governing bodies of Cardano Intersect and the developers of SecondFi: “One of the Emurgo team said that the white hat is not known to Emurgo…
The qualification is important. It leaves open whether Emurgo is actually in the dark or just adjusting his public exposure.
ADA’s stock price has fallen 21% in the past two weeks and is now trading near $0.145, a multi-year low that is about 95% below its all-time high.
The crypto hack did not break the Cardano protocol; every party from Intersect to Hoskinson has emphasized that the threat was a wallet-busting threat, but the damage to the environment’s reputation is real, and the market is paying the price.
SecondFi, one of the largest Cardano wallet generators and formerly known as Yoroi Wallet, had a major problem with its key generation software. Three foreign criminals destroyed approximately 16 million ADA ($2.4 million) from 374 addresses across four separate events.
A separate group of 129 million ADA, which is at the center of the information controversy, was created by SecondFi as an emergency rescue service, transferred to an “independent, qualified third-party administrator” who supports the affected addresses. Cybersecurity firm SlowMist said the total exposure could exceed $20 million.
SecondFi took the final picture on June 26 and says that it will return the lost assets within two weeks, although it added that this time is not guaranteed and that users should not move money to new wallets in the short term, warning that “independent actions taken outside the government’s control lead to certain risks.”
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Cardano News: Can Cardano Get Below $0.145?
ADA is trading near $0.145down 21% in two weeks, below its 50-day EMA at $0.1904, its 100-day EMA at $0.2248, and its 200-day EMA at $0.3006.
The RSI sits at 29, flirting with an oversold sector. The MACD has moved slowly, showing a downward trend rather than a reversal.
Important support is at the $0.140 level of sentiment, with lows around $0.1382. A daily close below $0.1451 reveals that region directly.
On the downside, the initial resistance levels at $0.1726–$0.1737, the lower lows broken together with the 23.6% Fibonacci level, are followed by the 50-day EMA at $0.1904 and the 38.2% Fibonacci retracement at $0.1957.
The ratio of CoinGlass long and short reads 0.72, the lowest in a month, and the loss is at -0.0055%, which means that the short is paying for the long term, a small sign of contradiction.
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