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Arbitrum Security Council Member Says Emergency Powers Froze $72 Million Tied to North Korean Hackers

In an April 23 interview with Coinage, Arbitrum Security Council member Griff Green said the action used emergency powers to block control of funds linked to North Korean hackers.

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Summary

Arbitrum Security Council member Griff Green said in an April 23 interview with Coinage that emergency powers were used to freeze $72 million controlled by North Korean hackers. The statement points to a governance-based intervention on Arbitrum, a layer-2 blockchain (network built on top of Ethereum), where a designated security body can act during urgent situations. Freezing funds in this context generally means restricting access through protocol-level or smart contract (self-executing blockchain code) controls rather than reversing blockchain history.

Terms & Concepts
  • Layer-2 blockchain: A secondary network built on top of a base blockchain such as Ethereum to improve speed or reduce costs.
  • Security Council: A designated governance group that can take limited emergency actions to protect a blockchain protocol or its users.
  • Smart contract: Self-executing blockchain code that automatically carries out rules or transactions when conditions are met.