Crypto Hack Recovery Has a Problem Bigger Than Stolen Keys

Binance has asked Arbitrum token holders to release about 8,426 ETH and 74.6 million ARB to a recovery address through a constitutional proposal posted on the Arbitrum governance forum on November 5. The assets were frozen by Arbitrum’s Security Council on October 30, a day after an attack on Binance hot wallets that the exchange valued at roughly $6.3 billion and that the FBI attributed to North Korea. Binance says it has already replenished about 98% of the stolen amount from its own resources, so the release would largely reimburse the exchange. No vote has taken place; Binance estimates the process at about 49 days, possibly longer if legal claims arise.