COINDESK · 2026-11-03 05:25 UTC

Arbitrum's council moved $30 million of Binance hack funds without the hacker's key

Arbitrum's Security Council moved 8,425 ETH and 74 million ARB (~$30 million) from a Binance exploit address without the hacker's private key signature by temporarily modifying the Inbox contract code. The council used emergency upgrade powers to add a function allowing transactions to appear from the exploiter's address, then restored the original code after moving funds to a holding address. The action raises questions about Arbitrum's decentralization claims, as whoever controls the upgrade path can make any address spend funds; the council previously moved $71 million from a KelpDAO…

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