The Arbitrum Security Council cut off access to approximately 74,6 million ARB and 8.425 ETH at an address linked to the Binance attack by moving them to a frozen intermediary wallet.
According to the Council statement reported by Wu Blockchain, the intervention targeted an address on the Arbitrum One network identified as being linked to the Binance attack. Following technical review and assessment, the transfer of 74.559.805 ARB and 8.425 ETH to a secure intermediary wallet was completed as of October 30.
This eliminated the address’s ability to move the balances it had previously held. The Council said the transaction was carried out without affecting other users, applications, or the rest of the chain’s state.
How will the next decision on the frozen assets be made?
The funds in the intermediary wallet are currently frozen. Moving them again will require the Security Council to take further action or the Arbitrum DAO to decide through a governance vote. The next steps will be carried out in coordination with the relevant parties.
As a result, the completed transaction serves as a protective measure ahead of any return of the funds to Binance. The specific outcome announced is that the address linked to the attack can no longer access those ARB and ETH balances.
We previously covered the altcoins in the attacker’s wallet and the risk of a sale. This time, Arbitrum’s intervention stands out not for the sale of the assets, but for taking control of them away from the address linked to the attack.
Not investment advice.