Arbitrum Takes Urgent Measures Following KelpDAO Attack

The cryptocurrency sector is reeling from the effects of a major hack over the weekend, which saw the DeFi sector suffer one of its worst periods since the 2022 crash.

Arbitrum has responded quickly to mitigate the damage, freezing approximately 30,766 ETH associated with the KelpDAO vulnerability. This decision was made after the network's security council identified an address linked to the attack.

The frozen funds are no longer accessible from the hacker's address and can only be activated by a subsequent decision of the Arbitrum management. The relevant institutions will be involved in any subsequent transactions.