The Arbitrum Security Council transferred assets related to the Binance hack.

TechFlow reported on Nov 3 that, according to an announcement from the Arbitrum Security Council, the council took emergency action on Oct 30 to transfer 8,425 ETH and approximately 74.56 million ARB held by addresses associated with the Binance theft incident to a custody address.

The council temporarily upgraded Arbitrum's Inbox contract, simulated the relevant addresses sending two cross-chain transactions to transfer the funds, and restored the original contract code after the operation was completed. The announcement stated that subsequent transfers of these assets must be approved through an ArbitrumDAO governance vote.