Binance seeks return of 8,426 ETH and 74.56 million ARB after hack

Binance asked Arbitrum’s DAO on Nov. 5 to release 8,425.997 ETH and 74.56 million ARB frozen after its hot-wallet exploit, beginning a governance process the exchange expects to take seven weeks or longer. Summary Binance seeks the return of frozen assets without requesting a new DAO treasury allocation. ARB tokenholders and delegates must approve the release through Arbitrum’s constitutional governance process. Additional asset withdrawals are scheduled to reopen progressively following security and readiness checks. Binance removed SignalPlus-linked API keys after the third-party platform reported a potential security issue. Binance submitted the proposal through its Binance_Post_Listing forum account, asking tokenholders to authorize the return of assets immobilized on Arbitrum One. The funds remain at an intermediary frozen address, with forum discussion, a Snapshot temperature check, and a binding onchain vote still ahead. The exchange said it would cover affected users’ losses through its Secure Asset Fund for Users, known as SAFU, and company treasury. Recovered assets could pay incident-related losses and costs, including replenishing reserves already used to compensate cus...