Ctrl Wallet has announced its shutdown and issued an urgent call for users to withdraw their funds within the next month, according to Cointelegraph. The wallet service did not disclose the scale of the security breach but indicated that a security exploit prompted the decision to cease operations.
The closure represents a significant disruption for Ctrl Wallet's user base, which must now transfer their digital assets to alternative custody solutions within the 30-day window. The exact number of affected users and the total assets under management at the time of the announcement remain unclear from available reports.
The incident underscores ongoing security vulnerabilities in the self-custody wallet space, where operational risks and code exploits continue to pose material threats to user funds. Such shutdowns typically trigger cascading migrations to competing platforms and reinforce institutional adoption of established custodial services.