According to a federal judge on Friday, May 9, Arbitrum’s 30,766 ETH (approximately $71 million) has been cleared for transfer to Aave following a court order from Judge Margaret Garnett of the U.S. District Court for the Southern District of New York. The modification allows an onchain governance vote to move the frozen ether to Aave’s wallet, and participants in that vote shall not violate the restraining notice.
However, the funds remain legally encumbered. Aave has agreed to be bound by the restraining order as if it had been served directly, meaning the assets are not free and clear once they land in Aave’s wallet. If the court ultimately sides with North Korea terrorism creditors pursuing the claim, Aave could be compelled to surrender the ETH. Arbitrum delegates voted Thursday to approve the release, with 182.2 million ARB tokens and approximately 91% of voting power in favor.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
ETH/BTC Extends Decline With 35% Drop in Past Year, Analysts Warn of Potential 40% Further Fall
According to Cointelegraph, ETH/BTC has declined over 35% in the past year amid a weakening market structure that continues to raise concerns about further downside risks. Technical analysis shows the pair remains pressured by a multi-year downtrend line that has repeatedly capped rallies
GateNews4h ago
Whale Swaps 40 BTC for 1,384.6 ETH Worth $3.23M, Transfers via Tornado Cash
According to Onchain Lens, a whale recently swapped 40 BTC for 1,384.6 ETH worth $3.23 million through THORChain, then transferred the funds via Tornado Cash.
GateNews5h ago
Solana Reclaims 100DMA, Holds Key ETH Support Zone
Solana is showing early strength after reclaiming its 100-day moving average and holding a key support zone against Ethereum, according to technical analysis from traders TraderSZ and CRG. SOL still needs follow-through confirmation, but both charts suggest buyers are attempting to shift momentum
CryptoFrontier5h ago
BlackRock Files to Launch $6.1B Tokenized Money Market Fund on Ethereum
According to Bloomberg, BlackRock has filed to launch tokenized versions of two money market funds targeting stablecoin holders, with the $6.1 billion BlackRock Select Treasury Based Liquidity Fund (BSTBL) being a key offering. The tokenized shares
GateNews6h ago
BAYC Floor Price Doubles to Over 10 ETH in One Month as NFT Market Rebounds
According to CoinDesk, Bored Ape Yacht Club (BAYC) NFT floor price doubled over the past month, rising from about 5 ETH to over 10 ETH. ApeCoin (APE) similarly rebounded from below 0.1 USD to approximately 0.16 USD during the same period, with trading volume expanding notably.
NFT
GateNews6h ago
Judge Clears $71M ETH Transfer From Arbitrum to Aave, But North Korea Creditors Retain Legal Claim
According to The Block, on Friday (May 9), Judge Margaret Garnett of the U.S. District Court for the Southern District of New York modified a restraining notice that had locked 30,766 ETH (~$71 million) inside Arbitrum DAO since May 1. The modification permits an onchain governance vote to
GateNews9h ago
