Cardano wallet SecondFi is identifying a path to recovery for those affected by the Tuesday exploit. They expect that assets will be returned in two weeks after testing and security review.
On a Saturday statement Phillip Pon, the CEO of Emurgo developer SecondFi, has completed forensic investigation and set up a recovery path for users affected. Pon explained that in the week ahead, the company would spend time building the solution and then another week testing it before returning assets.
Pon has urged its users not to migrate assets, or take actions that are outside the official instructions. The recovery process had been designed around the existing wallet state and independent action would complicate the return of money.
Emurgo, a SecondFi developer, shared an update regarding the recovery of wallets. Emurgo is the source.
SecondFi disclosed a security breach on Tuesday The incident affected 374 addresses and approximately 16,000,000 ADA (worth about $2.4million at the time). SecondFi had previously traced this incident back to a Cardano Web wallet software issue that affected users’ private keys.
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The company has also stated that they have secured about 129,000,000 ADA via emergency measures. They will transfer the funds to a third-party independent custodian until the verification and recover process is complete.
SecondFi is yet to publish a postmortem that explains the vulnerabilities or the method of exploit.
SecondFi alerts users to recovery scams
SecondFi has released an update separate from the one posted on Saturday. warned The recovery of the wallet is still underway, but malicious actors have been sending out fraudulent messages pretending to be it.
The company stated that there have not been any recovery activities requiring the participation of users and they will never require private keys or seed phrases from their wallet credentials.
SecondFi has said that any message instructing the user to migrate their assets, submit wallet data or take immediate actions outside of its verified channels should be considered fraudulent.
Users who require assistance are encouraged to submit tickets through the official support portal, while recovery is in progress.
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Source: cointelegraph.com
