Arbitrum’s Security Council Can Move a Wallet’s Funds Without Its Key, Binance Freeze Shows

Arbitrum’s Security Council utilized its emergency upgrade path to empty more than 74 million ARB and 8,400 ETH from a targeted address following a Binance exploit, executing the transfer without needing the wallet's private key. According to a community walkthrough, the council employed a Safe calling Arbitrum’s UpgradeExecutor to run override code on the Inbox in a single Ethereum transaction. While the actions used powers granted by the DAO, commentators note it highlights that wallet control on such chains ultimately rests with upgrade path administrators. Open article →