Arbitrum council moved $30M of Binance hack funds without keys, CoinDesk reports
CIE News ·
Based on reporting by CoinDesk; not yet independently confirmed.
Arbitrum's 12-person governing council temporarily rewrote a core protocol contract to move $30 million tied to a Binance hack without holding the private keys, according to CoinDesk.
A 12-person committee governing Arbitrum temporarily rewrote a core protocol contract to move $30 million of funds linked to a Binance hack without possessing the associated private key, CoinDesk reported. The mechanism allowed the committee to transfer the assets before reverting the contract code back to its original state. According to CoinDesk, the intervention marks the second time this year that the Arbitrum council has rewritten protocol contracts to access funds.
Key facts
- $30 million moved
- Arbitrum
- 12-person committee
- Core contract rewritten