#BitcoinBouncesBack

In the Arbitrum statement, it is said that funds were moved to an "intermediate frozen wallet." They are no longer accessible to the original owner and can only be unlocked by a network governance decision — provided proof of non-involvement in the hack.
The company noted that the decision was made with the participation of law enforcement agencies. According to Arbitrum, the actions did not affect users and network applications.
Security council member Griffin Green (Griff Green) wrote on social media X that 9 out of 12 participants voted for the freeze. He did not disclose additional details, only clarifying that "the decision was not easy."
Some users criticized Arbitrum's actions, pointing to possible contradictions with decentralization principles.
An attack on the liquid staking protocol Kelp occurred on April 18 through a LayerZero-based cross-chain bridge. The damage amounted to at least $293 million. The attackers used rights to stolen tokens to obtain loans on lending platforms, including Aave. The platforms considered the collateral valid despite the assets already being under the attackers' control. This led to the formation of unsecured debts: Aave alone had $200 million in debt.
In the wake of the incident, investors withdrew over $13 billion from DeFi projects over the weekend.