Binance Seeks ArbitrumDAO Vote to Release Frozen Ether and Arbitrum

Binance has asked ArbitrumDAO to approve transferring 8,425.997 Ether (ETH) and 74,559,805.2 Arbitrum (ARB) from a frozen Arbitrum One wallet to a recovery address it designated. The proposal adds a governance step for assets frozen after Binance said its hot wallets were compromised on Oct. 29. Binance posted the constitutional proposal Nov. 5. The Arbitrum Security Council froze the assets at 8:08 p.m. ET Oct. 29 (00:08 UTC Oct. 30), after identifying an address linked to the incident. The council’s freeze and transfer method involved temporarily changing Ethereum’s Inbox contract to issue cross-chain transactions impersonating that address, then restoring the contract’s original implementation. The proposal calls for forum discussion, a one-week Snapshot temperature check and a two-week on-chain vote.

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