Arbitrum

24h change: -0.89%. From $0.1252 to $0.1241.

• Arbitrum DAO is voting on a proposal to release 30,766 ETH worth about $71 million frozen by the Security Council following the Kelp DAO rsETH exploit. The initiative, backed by Aave, KelpDAO, LayerZero, , and Compound, aims to fund recovery efforts and unfreeze impaired DeFi markets. This underscores debates on emergency powers versus community governance in layer 2 networks. Early participation shows strong support with 16.9 million ARB votes for yes.
• Arbitrum Security Council used emergency powers to freeze around $72 million linked to North Korean hackers. This action follows patterns in crypto thefts totaling $6 billion by state-sponsored groups. It highlights layer 2 networks' role in securing funds post-exploits amid geopolitical cyber threats. Such interventions raise questions on decentralization limits.

24h change: -2.28%. From $0.1281 to $0.1252.

• The Arbitrum DAO began voting on a proposal to transfer 30,766 ETH frozen from the Kelp DAO exploiter to DeFi United, a coalition including Aave and Compound. The funds will help back 116,500 rsETH tokens drained in the exploit across multiple chains. This follows DeFi United raising $300 million and Kelp DAO contributing 2,000 ETH to the revival fund. The effort demonstrates cross-protocol coordination to mitigate DeFi risks.
• An upcoming unlock will release 92.65 million ARB tokens worth about $11.4 million, allocated to investors, team, and future team/advisors. This represents 0.93% of total supply. Token unlocks can impact circulating supply and market dynamics. ARB's total supply is 10 billion with 6.15 billion circulating.

24h change: +3.00%. From $0.1244 to $0.1282.

• The Arbitrum Security Council froze 30,766 ETH worth about $71 million connected to the $292 million Kelp DAO rsETH exploit. Funds were moved to a governance-controlled wallet with law enforcement input, aiding recovery efforts. This demonstrates the network's emergency response capabilities without disrupting other users.
• A coalition of DeFi protocols including Aave, Kelp DAO, and LayerZero proposed releasing the $71 million in frozen ETH to DeFi United for restoring rsETH backing. The Arbitrum DAO is considering the proposal to unwind bad debt positions. This highlights collaborative efforts to maintain DeFi stability.

24h change: +0.82%. From $0.1259 to $0.1269.

• DeFi United has detailed a technical plan to restore rsETH backing following the $292 million Kelp DAO exploit. The effort includes governance proposals for Aave on Ethereum and Arbitrum to liquidate positions and recover collateral. Protocols like LayerZero committed 10,000 ETH to the $300 million fund. Arbitrum DAO must approve releasing 30,765 ETH frozen by its Security Council.

24h change: -0.75%. From $0.1261 to $0.1252.

• Arbitrum's Security Council froze 30,766 ETH valued at $71 million on Arbitrum One, connected to the $292 million Kelp DAO exploit from April 18. The action used multisig capabilities to immobilize attacker funds and prevent further laundering. This intervention underscores the balance between security and decentralization in layer-2 networks.
• Aave Labs and DeFi United coalition, including Kelp and LayerZero, filed a proposal for Arbitrum DAO to unfreeze the ETH and direct it to a relief fund. The $300 million effort aims to restore backing for 116,500 rsETH drained in the exploit. Aave founder indicated execution to start soon.