#frozen eth

[rwatimes]

Arbitrum DAO clears path to transfer $71M in frozen ETH to Aave

A federal judge allows Arbitrum DAO to vote on transferring 30,765 frozen ETH worth $71M to Aave LLC amid $877M in creditor claims from the rsETH exploit.

➤ Arbitrum DAO has received court permission to vote on transferring $71 million in frozen ETH to Aave LLC as part of an exploit recovery effort. ➤ The frozen ETH was subject to a restraining notice due to $877 million in creditor claims stemming from the rsETH token exploit, allegedly linked to the Lazarus Group. ➤ Mantle DAO has also approved a 30,000 ETH loan to Aave to aid in victim compensation, highlighting a coordinated effort to address the exploit's fallout.

[rwatimes]

Judge Allows Governance Vote on $71M Frozen ETH Transfer to Aave

A Manhattan judge modified a restraining order to allow an Arbitrum governance vote on transferring $71M in frozen ETH to Aave LLC.

➤ A Manhattan judge has allowed an Arbitrum governance vote to proceed on transferring $71 million in frozen ETH to Aave LLC. ➤ The frozen ETH was linked to a Lazarus Group exploit and is also claimed by terrorism creditors seeking to enforce judgments against North Korea. ➤ While the transfer is now procedurally cleared, the underlying legal dispute over ownership of the funds remains unresolved.

[rwatimes]

US Law Firm Moves to Block Frozen ETH From Kelp Exploit

A New York district court signed a restraining notice and three writs of execution to prevent the Arbitrum DAO from moving Ether believed to be tied to the Kelp exploit, according to a Friday post on the Arbitrum DAO forum by US law firm Gerstein Harrow LLP. The firm says its cli...

➤ A US law firm, Gerstein Harrow LLP, has obtained a court order to block the Arbitrum DAO from moving Ether linked to the Kelp exploit, claiming its clients are owed significant damages from North Korea. ➤ The firm argues the stolen Ether is 'property' in which North Korea has a stake due to the hacker group's alleged ties to the country, creating a conflict with potential victims seeking to recover their funds. ➤ This legal action highlights the complex intersection of cybercrime, sanctions, and the challenges in allocating recovered crypto assets when multiple parties, including state actors and exploit victims, have claims.