Just as crypto was edging closer to mainstream finance, the industry has been reminded how fragile confidence in the space remains, bringing renewed attention to the debate over its promises, risks, and long-term role.

Last week, Singapore-headquartered crypto wallet company SecondFi, the developer of the Yoroi wallet for the Cardano blockchain, said it would shut down after attackers exploited what the company described as a “highly subtle flaw” in its wallet software, stealing 16.1 million ADA worth roughly $2.4 million. The vulnerability has since been patched. The company secured another 129 million ADA before it could be stolen and began preparing recovery tools for affected users. However, it concluded the damage was…