The Arbitrum Security Council stepped in and executed a multisig transaction, freezing approximately $30.5 million in assets from the Binance hack proceeds.
This is another major recovery at the L2 level, following Tether and Circle's freezing of stablecoins.
Attacker address: 0x3E2bf1ac6bf0934BBba6456C341c2EcbCED632d5
Transaction hash: 0xb69c81774f507d46ce776aeaed8b4d31df96dd66ce6fd05073481011835355d6
The Arbitrum Security Council's multisig authority is one of the few tools in L2 governance that can directly freeze assets.
With stablecoin issuers and L2 security councils intercepting funds separately, hackers have even less money they can successfully launder.
But it's important to be clear: these are assets on the Arbitrum chain. The $ETH on Ethereum mainnet still have no freezing mechanism. The ETH in the hacker's hands remains the hardest part to stop. $ARB
This is another major recovery at the L2 level, following Tether and Circle's freezing of stablecoins.
Attacker address: 0x3E2bf1ac6bf0934BBba6456C341c2EcbCED632d5
Transaction hash: 0xb69c81774f507d46ce776aeaed8b4d31df96dd66ce6fd05073481011835355d6
The Arbitrum Security Council's multisig authority is one of the few tools in L2 governance that can directly freeze assets.
With stablecoin issuers and L2 security councils intercepting funds separately, hackers have even less money they can successfully launder.
But it's important to be clear: these are assets on the Arbitrum chain. The $ETH on Ethereum mainnet still have no freezing mechanism. The ETH in the hacker's hands remains the hardest part to stop. $ARB