Binance proposes to the Arbitrum DAO to unfreeze stolen assets from its hot wallet: approximately 8,426 ETH and 74.56 million ARB.

Binance has submitted a constitutional-level Arbitrum Improvement Proposal (AIP) draft on the Arbitrum forum, requesting the unfreezing of 8,425.997 ETH and 74,559,805.2 ARB previously frozen by the Arbitrum Security Committee, to be returned to its designated recovery address. The assets were frozen after Binance’s hot wallet was attacked on October 29; the Arbitrum Security Committee took emergency action on October 30 to freeze and transfer the funds to a dedicated address. The proposal specifies that the unfreezing will require an on-chain atomic operation identical to that used for the original freeze, with no additional funding requested from the DAO treasury. The process is expected to take approximately seven weeks or longer, encompassing forum discussions, a Snapshot indicative vote, and an on-chain vote.