Arbitrum (ARB)

🟢 LIVE From The Nest: Arbitrum freezes 30K ETH, Odysseas, Sky Founder & Coinbase CSO Join https://t.co/88KQJrNxbD

literally shaking right now. after arbitrum froze north korea's $71m in stolen eth to fund their nuclear weapons program i'm concerned they're going to start freezing my money too.

to use defi on arbitrum is to not have your funds fund kim's next trip to build on arbitrum is to have your protocol marked safe by north korea if you have any problem with it, keep your funds on eth l1 and bitcoin don't lecture us on how decentralization died today

Surely one of the most complex decisions ever made in Arbitrum governance history but a few things worth noting: 1. To all those screaming for the past few days “Arbitrum has a centralized sequencer so they can move funds”, take a few minutes to learn how Arbitrum works. The sequencer has absolutely no power to move funds and was not the one who acted here. 2. The decision to act was made entirely by the Arbitrum Security Council, a group of 12 individuals elected by the Arbitrum DAO (the annual election is currently underway — vote now!), which required 9/12 of them to agree. The council is independent from the Arbitrum Foundation and Offchain Labs (1/12 of the elected members is an OCL engineer), and came to this decision by themselves after much deliberation. You may not like the existence of security councils and you can form your own opinion on whether you agree with their actions, but this process was extremely distributed and coordinated by independent actors, and ina world where security counc

These hacks all targeted points of centralization: KelpDAO hack exploited a trusted bridge & the Drift hack compromised admin keys Centralization is the problem & decentralization is the answer! ARB's admin keys are the problem, not the solution: All major L2s are vulnerable!