Arbitrum Freezes $72 Million Linked to North Korean Hackers Using Emergency Powers

Arbitrum has exercised emergency powers to freeze $72 million associated with North Korean hackers. According to NS3.AI, this action marks the first use of a 9-of-12 multi-signature emergency execution, highlighting the severity of the threat to decentralized finance (DeFi). Security Council member Griff Green, in an interview on April 23, emphasized the existential risk posed to DeFi, prompting the unprecedented decision.