SecondFi: On-chain recovery plan may take longer than the originally estimated 2 weeks

Foresight News reports that Cardano wallet service provider SecondFi has released an update on the progress of its security incident recovery. EMURGO has established an asset recovery fund to return assets to users affected by the attack. Currently, SecondFi has secured and made part of the assets accessible through emergency measures, and the team is discussing a suitable custody mechanism with Intersect to ensure safe returns.

In addition, the team is working with a Cardano community-led working group to advance the on-chain recovery plan. As this plan is more complex than previously anticipated, the recovery timeline may exceed the originally estimated two weeks.