Ctrl Wallet Closes
Ctrl Wallet Announces August 3 Shutdown After Security Breach; Users Must Migrate Crypto Assets
Anonymous
Key Points
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Ctrl Wallet has roughly 650,000 monthly users, underscoring the scale of impact as it winds down.
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Starting July 7, Ctrl Wallet will be removed from the Apple App Store, Google Play, and browser extension marketplaces, with core app functions remaining until August 2 and the shutdown becoming export-only on August 3.
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The company outlines two migration options before shutdown: export the wallet’s 12-word or 24-word recovery phrase to a compatible wallet such as MetaMask, Trust Wallet, or Phantom, or manually transfer assets to another wallet address; and there will be no migration token or airdrop.
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The SecondFi breach that helped trigger Ctrl Wallet’s shutdown involved losses of about 16 million ADA, with roughly 129 million ADA moved to a third-party exchange for verification.
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Ctrl Wallet advertised support for 2,500+ networks as a multi-chain wallet, a breadth of integration that will be halted as part of the shutdown.
Ctrl Wallet, a multi-chain crypto wallet with roughly 650,000 monthly users, will permanently shut down on August 3, 2026, according to BeInCrypto. The closure follows a June 23 security breach that hit Cardano-linked wallets and exposed problems at SecondFi, a platform tied to Cardano's affiliate Emurgo.
Starting July 7, the app will be pulled from the Apple App Store, Google Play, and all browser extension stores, MEXC reported. Core functions like sending, receiving, and swaps will stay live until August 2. On August 3, only recovery-phrase exports will remain.
Security Breach at SecondFi Triggered the Collapse
The shutdown traces back to a breach at SecondFi, a platform connected to Emurgo, Cardano's blockchain arm. Grafa reported that the exploit drained about 16 million ADA from affected wallets. On top of that, roughly 129 million ADA was moved to a third-party exchange for verification, adding to user alarm.
Ctrl Wallet had rebranded from XDEFI Wallet and was meant to continue as a multichain product through SecondFi. That transition is now halted. The breach exposed how closely the wallet's future was tied to SecondFi's security and stability.
How to Move Your Assets Before August 3
Ctrl Wallet gives users two options to protect their funds. First, export your 12-word or 24-word recovery phrase and import it into a compatible wallet like MetaMask, Trust Wallet, or Phantom. Second, manually send your assets to a new wallet address before the deadline.
The company has been clear: there is no migration token and no airdrop. MEXC warned users to ignore any claims about rewards tied to the shutdown. Those are scams. The only legitimate action is exporting your phrase or moving your assets yourself.
A 2,500-Network Wallet Goes Dark
Ctrl Wallet supported over 2,500 blockchain networks, making it one of the broadest multi-chain wallets available, according to MEXC. That wide reach made it popular but also complex to maintain and secure. The shutdown ends that coverage entirely.
Grafa described Ctrl Wallet as the world's largest non-custodial wallet at the time of its closure. A non-custodial wallet means users hold their own keys — no company controls the funds. That makes exporting your recovery phrase the critical step before August 3.
Ctrl Wallet Closure Fits a Broader 2026 Crypto Trend
BeInCrypto noted that Ctrl Wallet's shutdown is part of a growing wave of crypto project closures in 2026. Security exploits and organizational stress have pushed several platforms to wind down this year. The scale here — 650,000 monthly users — makes this one of the largest such exits.
Users have a narrow window left. The app disappears from stores on July 7. Full functionality ends August 2. After August 3, the only thing left to do is export a recovery phrase — and even that window will eventually close.
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