Offchain Labs stories

Nov 2, 2026

Arbitrum Security Council moves $30 million in Binance hack funds without hacker's key

Arbitrum's Security Council transferred approximately $30 million in stolen Binance funds on October 30, demonstrating the council's ability to move assets without requiring the wallet holder's private key.

Nov 2, 20262 sources

Top claims

▪Arbitrum's Security Council initiated the transfer of Binance exploit funds by calling the UpgradeExecutor contract through its Safe wallet in Ethereum block 26301886
▪The Security Council temporarily modified Arbitrum's Inbox contract using a function called sendUnsignedTransactionOverride to process transactions as if sent by the Binance exploiter's address, before restoring the original contract code
▪Steven Goldfeder, co-founder and CEO of Offchain Labs, stated in July 2026 that Arbitrum's emergency powers belong to an external, broadly elected council rather than individual developers

Topics

Crypto hacks Ethereum Layer 2s & scaling Crypto security Crypto exchanges DAOs & governance Binance hot-wallet breach Ethereum Hot wallet compromise Arbitrum Security Council

Related entities

North Korea Ether Ethereum