SecondFi: On-Chain Recovery Plan More Complex Than Expected, Recovery May Exceed Two Weeks

Odaily Planet Daily News: Cardano wallet service provider SecondFi has released an update on the security incident recovery progress, stating that EMURGO has established an asset recovery fund to return assets to users affected by the attack.

SecondFi stated that emergency measures have been taken to protect and restore access to some assets. The team is currently discussing appropriate custody mechanisms with Intersect to ensure the safe return of assets to users.

Furthermore, SecondFi is collaborating with a Cardano community-led working group to advance the on-chain recovery plan. Due to the recovery plan being more complex than initially expected, the overall recovery time may exceed the previously estimated two weeks.