Cardano Foundation takes over Token2049 delivery after EMURGO shifts focus to SecondFi incident
Intersect, Cardano’s governance company, said on X that EMURGO can no longer allocate the resources needed to execute the Token2049 event because it is focused on handling the recent SecondFi security incident. After discussions among EMURGO, Intersect, and the Cardano Foundation, responsibility for delivering the event has been formally transferred to the foundation. According to Intersect, EMURGO first requested the handover, and the transfer was approved after talks with the Cardano Foundation. Intersect said the decision was made because of the tight event timeline and the need to avoid uncertainty around delivery. The Cardano Foundation has agreed to deliver the event within the approved scope, and both EMURGO and Intersect said they recognize the foundation’s record in running past events. Token2049 remains scheduled for October. The update follows a security issue disclosed by SecondFi in June. At the time, SecondFi said the incident affected about 16 million ADA, then worth around $2.42 million. SlowMist’s Cosine later said user losses related to SecondFi may have exceeded $20 million.







