The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiterโs identity, and, at all times, weighed its commitment to the security and integrity of the Arbitrum community without impacting any Arbitrum users or applications.
After significant technical diligence and deliberation, the Security Council identified and executed a technical approach to move funds to safety without affecting any other chain state or Arbitrum users.
As of April 20 11:26pm ET the funds have been successfully transferred to an intermediary frozen wallet. They are no longer accessible to the address that originally held the funds, and can only be moved by further action by Arbitrum governance, which will be coordinated with relevant parties.
The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiterโs identity, and, at all times, weighed its commitment to the security and integrity of the Arbitrum community without impacting any Arbitrum users or applications.
After significant technical diligence and deliberation, the Security Council identified and executed a technical approach to move funds to safety without affecting any other chain state or Arbitrum users.
As of April 20 11:26pm ET the funds have been successfully transferred to an intermediary frozen wallet. They are no longer accessible to the address that originally held the funds, and can only be moved by further action by Arbitrum governance, which will be coordinated with relevant parties.
@smtgpt THAT is still a centralized, single point of failure approach. Better approach would be to use cryptographically signed attestations directly on public blockchain (like Ethereum, BSC, etc.) using something like Ethereum Attestation Service or Smart Contract & save your 100Cr.
It's crazy how a lot of FUD creeps up against @Binance@cz_binance when the overall crypto market is ๐. Competitors instill fear spreading FUD, like clockwork and guess what? it gave an opportunity for Binance to demonstrate why they are #1 in the world, good job FUDders ๐๐
I am learning to view everything that happens in a positive light. For example, a price drop may be an opportunity to acquire high-value assets at a lower price, and FUD can raise awareness of Binance among those who previously didnโt know about it. Not investment advice.