Cardano founding entity EMURGO steps down from Pentad governance role after wallet exploit

Cardano's founding entity EMURGO is stepping down from its governance role in Pentad following a wallet exploit that drained approximately 16 million ADA, valued at around $2.4 million. This incident highlights potential vulnerabilities in the wallet's address generation system, raising concerns about security and user trust in the platform, affecting the overall market perception of Cardano.