- SecondFi targets two-week recovery while finalizing secure asset return procedures.
- Users should avoid wallet transfers amid ongoing recovery verification efforts.
- Company warns against scam messages through official communication channels only.
SecondFi has set a two-week target to complete its recovery process following the platform’s recent security incident. According to an update shared by EMURGO, the team has identified a recovery solution and is now preparing to build and test it before user assets are returned.
Phillip said engineers and security specialists have spent several days securing the platform, conducting forensic investigations, and validating wallet balances. According to the statement, those efforts have provided a clear recovery path designed to restore assets safely while protecting affected users.
The company said development of the recovery solution will take place during the first week. Subsequently, the second week will focus on testing and reviewing the system before asset distributions begin. Phillip explained that the timeline reflects the need for careful execution rather than speed.
Moreover, SecondFi said every stage of the process must be completed carefully to minimize additional risks. The company maintained that protecting user assets remains the highest priority throughout the recovery effort.
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SecondFi advises users against moving assets
According to the update, users should not transfer or migrate assets while the recovery process is underway. The company explained that its recovery framework depends on existing wallet states, meaning independent transfers could interfere with verification and delay asset returns.
Phillip also warned that anyone choosing to move assets outside the official process would do so entirely at their own risk. Besides that warning, he encouraged users to wait for verified instructions before taking any recovery-related action.
Additionally, SecondFi alerted users to fraudulent communications circulating since the security incident. According to the statement, scammers have started impersonating the platform to obtain sensitive wallet information from affected users.
The company stressed that it will never request private keys, seed phrases, wallet credentials, or direct wallet access. It also confirmed that no recovery activity requiring user participation has started.
Consequently, users should ignore any communication requesting wallet information or directing them to transfer assets. SecondFi said only announcements published through its verified official channels should be trusted.
Company outlines next steps for affected users
Furthermore, SecondFi instructed affected users to submit a support ticket through its official support portal if they have not already done so. According to Phillip, submitting a ticket remains the only action required while development and testing continue. Phillip also thanked the Cardano community, ecosystem partners, and platform users for supporting SecondFi throughout the recovery process. He said the cooperation shown across the ecosystem has strengthened the team’s commitment to restoring assets responsibly.
Moreover, the company confirmed it will continue publishing progress updates through its official communication channels as work advances toward the planned recovery timeline. SecondFi expects to complete development and testing within two weeks before beginning asset returns. Until then, the company continues urging users to avoid independent wallet transfers and remain alert for fraudulent recovery messages.
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