SecondFi Hack Forces Cardano Firm to Give up Running TOKEN2049
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Key news points: Emurgo handed over responsibilities of TOKEN2049 to Cardano Foundation after saying that its priority is to recover assets for users affected by SecondFi. Intersect said that Emurgo could not allocate necessary resources to plan and execute the Singapore event, while Cardano Foundation will handle the boot and side event. SecondFi was hacked for $2.4 million in ADA, while $18.5 million in white-hat funds will support recovery. E…
SecondFi hack forces Cardano firm to give up running TOKEN2049
Cardano co-founder Emurgo has been forced to hand over the running of self-styled “world’s largest crypto event” TOKEN2049 to the Cardano Foundation, following the $20 million hack of its neo-finance platform SecondFi. That’s according to Intersect, Cardano’s governance firm, which made the announcement on Tuesday. Intersect stated that Emurgo “is unable to allocate the necessary resources to plan and execute Token2049.” Emurgo added, “Following…
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