Ctrl Wallet to Cease Operations Following Security Breach

The company has initiated an immediate shutdown process, halting new downloads and removing its applications from mobile and browser extension stores. Starting in August, core functionalities—including token swaps, dApp connections, and asset transfers—will be disabled. Users who fail to move their funds before the deadline retain the ability to recover their holdings by importing their 12- or 24-word recovery phrases into compatible platforms such as MetaMask, Trust Wallet, or Phantom.

Management explicitly warned customers to exercise caution, noting that no migration tokens or airdrops are associated with the closure. Any social media claims promising compensation for the shutdown should be treated as fraudulent. The move follows a tumultuous period for the firm, formerly known as XDEFI Wallet, which had previously transitioned under the Emurgo umbrella. This closure mirrors a wider trend of infrastructure instability, following high-profile exploits at Summer.fi, Taiko, and the Axelar-Secret Network bridge, which collectively resulted in millions of dollars in losses.