Arbitrum Security Council member Griff Green revealed the use of emergency powers to freeze $72 million linked to North Korean hackers. In an April 23 interview, Green explained that the decision was driven by the existential threat posed to decentralized finance (DeFi) by the hackers. The funds were identified in a Layer 2 address, allowing coordination with SEAL 911 to execute a 9-of-12 multi-signature emergency action to secure the assets.
Green addressed concerns about the intervention by a small group, emphasizing that true checks and balances are maintained by the market and token holders. This unprecedented move highlights the proactive measures taken by Arbitrum to protect the DeFi ecosystem from significant threats.
Arbitrum Freezes $72M Linked to North Korean Hackers Using Emergency Powers
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