Ctrl Wallet to Shut Down Permanently Following Major Security Exploit
The non-custodial multichain cryptocurrency wallet Ctrl Wallet has officially announced its shutdown following a security exploit that occurred on June 23. The breach specifically impacted Cardano wallets on the platform, triggering an emergency maintenance mode that has now evolved into a permanent cessation of services.
Users are facing a critical deadline to withdraw their assets before August 3, 2026, when all core functionalities, including sending, receiving, and swapping funds, will be disabled. While the ability to export recovery phrases will remain, the window for securing crypto assets within the app is rapidly closing, highlighting the volatility of decentralized finance tools.
Non-custodial multichain cryptocurrency wallet Ctrl Wallet is shutting down its services just weeks after a security exploit. The incident, which took place on June 23, affected several Cardano wallets on the platform, prompting the engineering team to enter a temporary 'maintenance mode' to safeguard user assets.
In a recent announcement, the wallet's operators confirmed that starting August 3, 2026, all primary actions within the app—such as sending, receiving, and swapping funds—will be completely unavailable. The only remaining functionality will be the ability to export users' recovery phrases. Users are being strongly urged to withdraw their assets immediately to ensure they do not lose access to their funds.
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