Foresight News|Nov 05, 2026 15:12
Binance has proposed to the Arbitrum DAO the return of approximately 8,426 ETH and 74.56 million ARB frozen assets.
According to Foresight News, Binance has submitted a proposal on the Arbitrum governance forum to return 8,425,997 ETH and 74,559,805.2 ARB frozen on Arbitrum One to a designated recovery address. According to the proposal, these assets originated from a theft of Binance's hot wallet and were frozen by the Arbitrum Security Committee as part of an emergency action.
Binance stated that it has committed to covering all losses for affected users through the SAFU Fund and the company's vault. The returned assets will be used to compensate for losses and costs incurred due to the incident, including replenishing the SAFU Fund or vault reserves already used for compensation. The proposal is currently under discussion on the forum and will subsequently undergo a Snapshot vote and on-chain governance processes, which are expected to take approximately 49 days. The process may be extended if legal proceedings restricting asset transfers are initiated. The proposal does not request additional funding from the DAO treasury.
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