Ctrl Wallet hits Ctrl+Alt+Delete: multichain wallet to power off Aug. 3 after June exploit 🗑️

Non-custodial multichain cryptocurrency wallet Ctrl Wallet will permanently shut down on August 3, 2026, weeks after a security issue affected some Cardano wallets on the platform, the company said in a blog post and social media update. Starting on that date, sending, receiving, swapping and all other in-app actions will be disabled, leaving users with only one remaining function: exporting their recovery phrase. The app was pulled from mobile and browser extension stores on July 7, and downloads have been halted immediately, though installed users will retain full functionality through August 2.

The wallet provider "strongly" recommended that users export their assets before the deadline. Users can transfer funds to another exchange or crypto wallet, or import their 12-word or 24-word recovery phrase into compatible providers, including MetaMask, Trust Wallet and Phantom. The team warned that it "cannot guarantee how long the app will remain accessible on your device" after August 3. Ctrl Wallet, formerly XDEFI Wallet, listed between 11 and 50 employees and more than 650,000 monthly users on its LinkedIn page, and supported over 2,500 blockchain networks including Cardano and Midnight.

The closure follows a security issue disclosed on June 23 that the team said affected a small number of Cardano wallets, prompting the platform to enter a temporary "maintenance mode" to protect user assets. One day later, on June 24, a vulnerability in SecondFi, the self-custodial platform built on Cardano that rebranded from the Yoroi wallet in April 2026 and was developed by Emurgo, the "for-profit arm of Cardano," enabled attackers to drain user funds, resulting in an estimated loss of around 16 million ADA, then worth about $2.4 million. SecondFi later outlined a recovery path to repay affected users across the 374 impacted wallet addresses, secured about 129 million ADA through emergency measures, and transferred the funds to an independent third-party custodian.

Ctrl Wallet announced its transition under the Emurgo umbrella on April 29, with its multichain architecture set to continue inside SecondFi. The company said there will not be a migration token or an airdrop event, and urged users to exercise caution when encountering fake social media posts or websites promising similar incentives. The wind-down comes as RootData counts 79 crypto projects that closed, entered bankruptcy, or went dark through 2026, spanning wallets, DeFi protocols, NFT platforms and other corners of the sector.