The Arbitrum Security Council has executed an emergency transaction to freeze approximately $30.5 million in assets connected to the Binance hot wallet exploit.
On-chain investigator ZachXBT first reported the move, noting the exploiter address 0x3E2bf1ac6bf0934BBba6456C341c2EcbCED632d5 and the transaction hash 0xb69c81774f507d46ce776aeaed8b4d31df96dd66ce6fd05073481011835355d6.
Arbitrum confirmed the Security Council moved 74,559,805 ARB and 8,425 ETH from that address into an intermediary frozen wallet. The funds can now only be released by further action from the Security Council or a vote by Arbitrum DAO governance.
Binance co-CEO Yi He also acknowledged the freeze.
This on-chain freeze adds to the growing total of assets blocked following the incident, which already includes major stablecoin blacklists by Tether, Circle, Ripple, and World Liberty Financial.
Author: Andy Samu
See Also:
Binance Hot Wallets Lose $3.5bn in Potential Record Crypto Hack | Disruption Banking
Andrew Samu
Andrew Samu, Editor-at-Large at Disruption Banking, shapes the publication’s global coverage of banking, capital markets and digital assets. Based at London’s Level39, he combines market analysis with a strong commercial perspective, informed in part by his role as Commercial Director at Verita HR.
