#pentad

The post EMURGO Cardano Pentad Withdrawal Signals Governance Shift appeared on BitcoinEthereumNews.com. One of Cardano’s founding organizations is stepping back from the ecosystem’s most prominent governance coalition — not because of a strategic shift, but because of a security failure that drained millions of dollars from hundreds of users. EMURGO’s withdrawal from Cardano’s Pentad governance group is a direct consequence of last month’s exploit on the SecondFi wallet, a product EMURGO itself built and launched. Key takeaways EMURGO is stepping down from Cardano’s Pentad governance group to focus on recovering user funds lost in the SecondFi wallet exploit. The exploit drained approximately 16 million ADA — worth about $2.4 million at the time — from 374 wallets. EMURGO expects to reimburse affected users within two weeks through a structured recovery plan. Pentad, formed earlier this year, groups Input Output Global, the Cardano Foundation, Intersect, the Midnight Foundation, and EM