Futures
Access hundreds of perpetual contracts
TradFi
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
GateRouter
Smartly choose from 40+ AI models, with 0% extra fees
The courts have now opened for the $71 million worth of ETH frozen following the Kelp DAO hack. Aave has filed an urgent application with a New York federal court demanding the return of these funds to their users.
The events unfolded as follows: Following the April 18th $292 million rsETH exploit, the Arbitrum Security Council successfully froze 30,766 ETH linked to the attacker. Just as the funds were about to be returned to the victims, the US law firm Gerstein Harrow LLP intervened. Citing a total of $877 million in terrorism damages awarded against North Korea in 2010, 2015, and 2016, the firm obtained a restraining order on May 1st. Their reasoning was that the attack was allegedly linked to the Lazarus Group, therefore the frozen assets should be considered North Korean property.
Aave's lawyers have taken a firm stance against this claim. The application states, "A thief doesn't become the legal owner of stolen goods simply because he held them for a few hours," emphasizing that the North Korea claim is based on internet rumors and lacks concrete evidence. Aave also warns that if this restriction continues, protocol users may be unable to meet their collateral obligations, and the risk of chain liquidation could threaten the entire DeFi ecosystem. They are requesting the court to immediately lift the restriction, or if that's not possible, that the plaintiffs deposit $300 million in collateral. An emergency hearing will be held tomorrow.
This case is a first for DeFi. For the first time, the question of who owns the recovered hacked funds is being addressed in a courtroom. Whatever the answer, it will set a precedent that will determine the fate of all future recovery operations.
Justice is served not when those who pursue good find justice, but when those who pursue good find justice.
⚠️Don't Forget to mark Stoploss and manage risk properly.
👉NFA
👉DYOR
#GateSquare #CreatorCarnival
#GateSquareMayTradingShare
The events unfolded as follows: Following the April 18th $292 million rsETH exploit, the Arbitrum Security Council successfully froze 30,766 ETH linked to the attacker. Just as the funds were about to be returned to the victims, the US law firm Gerstein Harrow LLP intervened. Citing a total of $877 million in terrorism damages awarded against North Korea in 2010, 2015, and 2016, the firm obtained a restraining order on May 1st. Their reasoning was that the attack was allegedly linked to the Lazarus Group, therefore the frozen assets should be considered North Korean property.
Aave's lawyers have taken a firm stance against this claim. The application states, "A thief doesn't become the legal owner of stolen goods simply because he held them for a few hours," emphasizing that the North Korea claim is based on internet rumors and lacks concrete evidence. Aave also warns that if this restriction continues, protocol users may be unable to meet their collateral obligations, and the risk of chain liquidation could threaten the entire DeFi ecosystem. They are requesting the court to immediately lift the restriction, or if that's not possible, that the plaintiffs deposit $300 million in collateral. An emergency hearing will be held tomorrow.
This case is a first for DeFi. For the first time, the question of who owns the recovered hacked funds is being addressed in a courtroom. Whatever the answer, it will set a precedent that will determine the fate of all future recovery operations.
Justice is served not when those who pursue good find justice, but when those who pursue good find justice.
⚠️Don't Forget to mark Stoploss and manage risk properly.
👉NFA
👉DYOR
#GateSquare #CreatorCarnival
#GateSquareMayTradingShare