Arbitrum’s council moved $30 million of Binance hack funds without the hacker’s key

A 12-person committee briefly rewrote a core Arbitrum contract to spend funds from an address for which it held no key, before returning the code to its original state. According to CoinDesk, this is the second time this has occurred this year.

The incident follows a $6.3 billion attack on Binance's internet-connected hot wallets last week, in which attackers moved most funds in approximately 20 minutes, according to Cointelegraph. While the FBI stated a North Korea-affiliated hacking group called TraderTraitor was behind the theft, North Korea has rejected these U.S. allegations. CNBC reports that North Korea denied the links as blockchain researchers traced the stolen cryptocurrency across networks.

RTE News reports that Kim Yo Jong, sister of leader Kim Jong Un, called the FBI's claims absurd rhetoric and a grave political provocation. Following the hack, South Korea's Financial Services Commission held an emergency meeting to review security measures and urged domestic exchanges to increase the proportion of assets held in offline cold wallets.

Brief written by urgent.news from CoinDesk, RTE News, CNBC, CNBC World, Cointelegraph — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.