Ctrl Wallet tells users to pack their bags 🧳, with exit set for Aug. 3

Non-custodial multichain cryptocurrency wallet Ctrl Wallet will discontinue its services on Aug. 3, 2026, telling users on Tuesday to withdraw their assets within roughly one month. The shutdown comes weeks after the provider reported a security incident affecting some Cardano wallets on its platform. From Aug. 3 onward, sending, receiving, swapping and all other in-app actions will be disabled, leaving only the option to export users' recovery phrases. The app will be removed from mobile and browser extension stores, and new downloads have been halted.

The company disclosed a security issue on June 23 that affected some Cardano wallets and placed the platform in a temporary "maintenance mode" to protect user assets while its engineering team worked to restore full functionality. Ahead of the Aug. 3 deadline, users can transfer holdings to another exchange or crypto wallet. After that point, they will only be able to import their recovery phrase into another compatible provider. Ctrl Wallet "strongly" recommended that users export their assets before Aug. 3.

According to Ctrl Wallet, exported 12-word or 24-word recovery phrases can be imported into compatible wallets including MetaMask, Trust Wallet and Phantom. The wallet provider also said there will not be a migration token or an airdrop event and urged users to be cautious of fraudulent social media posts or websites promising similar incentives.

Ctrl Wallet, formerly XDEFI Wallet, lists between 11 and 50 employees and over 650,000 monthly users on its LinkedIn page. The platform supported more than 2,500 blockchain networks, including Cardano and Midnight. On April 29, Ctrl Wallet announced a transition under Emurgo, the "for-profit arm of Cardano," with its multichain architecture set to continue inside the SecondFi wallet. SecondFi is a self-custodial platform built on Cardano that rebranded from the Yoroi wallet in April 2026.

A day after Ctrl Wallet's June 23 security disclosure, a vulnerability in SecondFi allowed attackers to drain user funds, with losses estimated at roughly 16 million ADA, then worth about $2.4 million. SecondFi later outlined a recovery plan to repay affected users across the 374 impacted wallet addresses and said it secured about 129 million ADA through emergency measures, transferring the funds to an independent third-party custodian where they will remain during the verification and recovery process.