Arbitrum Frozen ETH: Lawsuit Seizes $73M in Stolen Funds After Kelp DAO Hack
A U.S. law firm is suing to seize $73 million in Ethereum frozen by Arbitrum after the Kelp DAO hack, claiming the funds for clients who won judgments against North Korea.Summary
A U.S. law firm, Gerstein Harrow LLP, has filed a lawsuit to seize $73 million in Ethereum (ETH) frozen by Arbitrum following the Kelp DAO hack. The firm represents clients who won judgments against North Korea for state-sponsored hacking incidents. On April 18, Kelp DAO suffered a devastating $292 million hack, prompting the Arbitrum Security Council to freeze 30,766 ETH in the hacker's address to prevent money laundering. Gerstein Harrow argues its clients have a rightful claim to these frozen funds due to their prior judgments against North Korea. The court has approved a restraining order prohibiting Arbitrum from moving the assets, which were originally intended for transfer to DeFi United, a relief fund for hacking victims. This legal battle creates uncertainty for Kelp DAO users and delays the recovery process, raising important questions about asset ownership in the crypto space.
(Source：Home - Bitcoinworld.co.in)