Arbitrum freezes $71M of Ether connected to Kelp exploit

Griff Green, a member of Arbitrum’s security council, said the group acted with input from law enforcement and “did not make this decision lightly."

Ethereum layer-2 blockchain Arbitrum on Monday froze more than 30,000 Ether worth about $71.2 million held in a wallet connected to the recent exploit of the Kelp protocol.

Arbitrum said on Monday that its security council, a 12-member body elected by the Arbitrum community, took “emergency action” to freeze 30,766 Ether (ETH) that was held in a wallet connected to the Kelp exploit.

It added that the ETH had been moved to “an intermediary frozen wallet” and was “no longer accessible to the address that originally held the funds, and can only be moved by further action by Arbitrum governance.”

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