Court lets Arbitrum DAO transfer $71M in ETH tied to North Korea hack to Aave
A Manhattan judge modified a restraining notice to let Arbitrum DAO move $71 million in frozen Ether to Aave, while preserving terrorism victims’ legal claim on the funds.
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A Manhattan judge modified a restraining notice to let Arbitrum DAO move $71 million in frozen Ether to Aave, while preserving terrorism victims’ legal claim on the funds.
Without a final court ruling, Arbitrum is moving to transfer the frozen ETH, potentially exposing DAO participants to legal risk.
Arbitrum DAO voted to release the Kelp exploit funds, but a U.S. Court restraining notice has put the approved transfer in legal jeopardy.
The Security Council has been in the spotlight in recent weeks after its decision to freeze over 30K ETH connected to the Kelp bridge exploit.
A U.S. attorney is attempting to claim ETH frozen by Arbitrum following the Kelp DAO exploit — on behalf of victims of North Korean state hackers from prior incidents.