In a move never seen in crypto before 👇

9 out of 12 members of the Arbitrum Security Council voted after hours of discussion to freeze 30,766 ETH worth $71 million stolen from the Kelp DAO hack — and the operation was carried out on April 20 in coordination with law enforcement! (Unchained)

The full story 👇

Hackers — likely the North Korean Lazarus group — stole $292 million from Kelp DAO

Then they transferred $71 million to the Arbitrum network.

But before they could make a getaway — everything froze! ❄️

The stolen funds were immediately moved after the freeze, shifting $176 million from the remaining assets through THORChain, Umbra, and Chainflip to launder the money! (The Block)

But here’s the more dangerous question 👇

Angry users on X said: "This exposes that Arbitrum is just a multisig wallet that can freeze your funds whenever it wants — Bitcoin is the only true decentralized one!" (Crypto Times)

So the real question isn't who stole $292 million.

The real question is: Is decentralized crypto just a mirage? 🤔

What’s your take? Drop your thoughts in the comments 👇

$ETH $BTC $BNB

#Arbitrum #KelpDAO #Crypto #BinanceSquare #Analysis #Decentralization