Arbitrum Security Council Member: Why Emergency Powers Were Used to Freeze $72M Linked to North Korean Hackers Griff Green, a member of the Arbitrum Security Council (@griffgreen), explained in an interview with the Coinage channel on April 23 why emergency powers were used to freeze $72 million controlled by North Korean hackers. He stated that even if the Security Council chose not to act, they would face almost no risk; however, given that this posed an existential threat to DeFi, he firmly believed action was necessary. At the same time, the funds remained in a Layer 2 address for several days, providing a window for the team to coordinate with SEAL 911 to handle the situation. Ultimately, the 9-of-12 multisig emergency mechanism was activated for the first time to transfer and freeze the funds. In response to external criticism about "a small group being able to directly intervene in on-chain funds," Green argued that true checks and balances still come from the market and token holders. Source: Coinage