EMURGO hands over hosting of Token2049 to the Cardano Foundation to handle the SecondFi security incident

Comparing news, Cardano's governance company Intersect posted an article on the X platform that EMURGO was unable to allocate the necessary resources to carry out the Token2049 activity due to its recent focus on handling SecondFi security incidents. After negotiations between the three parties, responsibility for delivery of this activity has officially been transferred to the Cardano Foundation.

EMURGO submitted a transfer request to Intersect, which was agreed by the parties after discussions with the Cardano Foundation. Intersect said the decision was based on the urgency of the event and the avoidance of delivery uncertainty. The Cardano Foundation has agreed to deliver activities within the scope of approval, and both EMURGO and Intersect have recognized its ability to execute past activities. The Token2049 delivery process has now been officially handed over, and the event is still scheduled to be held in October.

Earlier in June, SecondFi disclosed that the security incident affected about 16 million ADAs (about $2.42 million at the time); however, Slow Mist Cosin said SecondFi users could lose more than $20 million.