Arbitrum’s Security Council moved more than 8,425 ETH and 74 million ARB, about $30 million, out of an address tied to the Binance exploit without using the hacker’s key, CoinDesk reported. The council’s notice is dated October 30.
The council’s nine-signature Safe sent one Ethereum transaction that temporarily replaced the code of Arbitrum’s Inbox contract. The new code added a function that let the council send transactions Arbitrum treated as coming from the exploiter’s address. Two such transactions moved the funds to a holding address, and the original code was restored in the same transaction. The council has 12 members elected by ARB holders, and emergency upgrades need nine of them. Its notice said “No other user’s funds or applications were affected.”
The funds can now move only through an ArbitrumDAO governance vote. That process has been slow before: in April the council moved 30,766 ETH, then worth about $71 million, from the KelpDAO exploiter, and recovery took weeks amid claims from families holding terrorism judgments against North Korea. Security firm Zealynx said the council used powers the DAO gave it and published both actions within an hour and a half.
Zealynx noted that the assumption that an address moves only when its key signs holds only up to whoever controls the upgrade path.
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