Arbitrum Freezes $71M net worth | TradeSphere
Cointelegraph on MSN: Arbitrum freezes $71M of Ether connected to Kelp exploit Arbitrum Security Council freezes $71M in ETH from the Kelp DAO hack, handing final fund recovery decisions to ARB token holders. Invezz: Arbitrum freezes $71M ETH in Kelp DAO hack as DeFi fallout grows Arbitrum freezes $71M ETH in Kelp DAO hack as DeFi fallout grows Invezz on MSN: Arbitrum freezes $71M ETH in Kelp DAO hack as DeFi fallout grows Layer 2 solutions like Arbitrum aim to solve the Ethereum network’s scaling problem; But what is ARB all about and how does it do this? Major bridges, such as Polygon’s PoS Bridge and Arbitrum’s bridge, facilitate asset and token transfer between Ethereum and scaling solutions, further enabling cross-chain compatibility.
Understanding the Context
Solana connects to other networks primarily through bridges. Arbitrum has frozen over $71 million in ETH tied to the Kelp DAO exploit in a bid to mitigate losses. According to a Tuesday update shared by Arbitrum, the network’s Security Council seized 30,766 ETH ... Arbitrum froze $71M worth of ETH, clawing back 25% of the losses from KelpDAO on its native chain.
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Key Insights
CoinJournal: Arbitrum freezes 30K ETH in KelpDAO hack as attacker routes funds to Bitcoin Arbitrum freezes 30,766 ETH tied to the KelpDAO hack as the attacker shifts millions into Bitcoin using cross-chain laundering tools. Arbitrum freezes 30K ETH in KelpDAO hack as attacker routes funds to Bitcoin Crypto Briefing: Arbitrum freezes $100M in ETH linked to KelpDAO exploit, targets Lazarus Group Arbitrum freezes $100M in ETH linked to KelpDAO exploit, targets Lazarus Group Decide on the best Arbitrum wallet for your ARB. Explore hot vs cold storage and see why the Ledger Wallet app offers the most secure way to manage your crypto with a hardware device. Future-Ready Interoperability: Whether you are on Ethereum, Polygon, Base, Optimism, BNB Chain, or Arbitrum, OKX DEX’s X-Routing technology intelligently splits and routes your trades to achieve the best possible rates across the EVM ecosystem. How to Swap using OKX DEX Getting started is simple and integrated into your existing workflow: