The post Arbitrum Security Council Freezes 30,766 ETH Linked to KelpDAO Exploit appeared first on Coinpedia Fintech News
The Arbitrum Security Council has taken emergency action to freeze 30,766 ETH (worth $70 million) connected to the KelpDAO exploit. The action was taken to block attacker access and protect user funds, but it has also raised concerns over decentralization in crypto systems.
Arbitrum Freezes 30,766 ETH After KelpDAO Exploit
Today on X, the Arbitrum Security Council announced that it has frozen 30,766 ETH linked to the KelpDAO exploit and moved it to a secure wallet after a major hack.
The council carefully considered the decision before taking action. Out of 12 council members, nine voted in favor of freezing the assets. The move came after close coordination with law enforcement, who shared information about the exploiter’s identity.
“The Security Council identified and executed a technical approach to move funds to safety without affecting any o
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