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Arbitrum Security Council Moved $30 Million in Stolen Binance Hack Funds Without Hacker's Key
(15 hours ago) · 1 source · Summarized by CryptoBipto
The Arbitrum Security Council reportedly used its administrative powers to move $30 million in funds linked to a Binance hack, bypassing the need for the hacker's private key. The action demonstrates the council's ability to override standard transaction requirements on the Arbitrum network in emergency situations.
WHY IT MATTERS
In crypto, a private key is like a password that only the owner of funds should have.
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SOURCES
- coindesk.com
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