Arbitrum’s council moved $30 million of Binance hack funds without the hacker’s key
Summary
The Arbitrum council temporarily modified a core smart contract to transfer thirty million dollars linked to the Binance hack without possessing the private key. Following the transaction, the committee restored the original code. This event marks the second time the network has taken such action this year.
A 12-person committee briefly rewrote one of Arbitrum’s core contracts to spend from an address it held no key for, then put the code back. It’s the second time this year.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Disclaimer: This content is for informational and educational purposes only and is not financial, investment or trading advice. Tech & Money Press is not a registered investment adviser or broker-dealer. Trading stocks, options and crypto involves substantial risk, including the loss of your entire investment. Do your own research and consult a licensed professional before making any financial decision. The authors may hold positions in the securities mentioned. News summaries are written with AI assistance from the original publisher's report and may contain errors; always check the original source. Full disclaimer.