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Coinbase’s quantum advisory board says quantum computing isn’t yet a threat, but has urged for upgrade work to begin, with some blockchains being less prepared than others.
Nine out of 12 council members voted yes. That detail alone tells you how divided — and how serious — the conversation inside Arbitrum’s security council got before the blockchain took its most dramatic action in recent memory. A Council Under Pressure Griff Green, a sitting member of the Arbitrum Security Council, said the group wrestled with the decision for hours. The debates covered technical, practical, ethical, and political ground before the vote was cast. “We did not make this decision lightly,” Green posted on X. In the end, the council moved 30,766 Ether — worth roughly $71.2 million — out of a wallet linked to the Kelp protocol exploit and into what Arbitrum described as “an intermediary frozen wallet.” I’m a member of the Security Council & I can tell you we did not make this decision lightly, there were countless hours of debates, technical, practical, ethical and political. But all it takes for evil to triumph is for good men to do nothing, so today, we decided to do… https://t.co/tArbmXwZKN — Griff Green – griff.eth (@griffgreen) April 21, 2026 The funds cannot be touched by the address that originally held them. Only a further action by Arbitrum governance can move them now. Law enforcement was part of the conversation. Arbitrum confirmed the council worked with authorities before acting, a detail that sets this incident apart from the usual back-and-forth that follows a DeFi hack. The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiter’s identity, and, at all times,… — Arbitrum (@arbitrum) April 21, 2026 The Hack That Started It All The chain of events began Saturday, when Kelp — a liquid restaking protocol — was hit through its LayerZero-powered bridge. Reports indicate the theft totaled at least $293 million. LayerZero, the cross-chain messaging protocol involved, publicly pointed the finger at North Korea as the group behind the attack. The damage did not stop at Kelp. Whoever carried out the exploit used stolen Kelp tokens to borrow other cryptocurrencies on Aave, the lending platform. That move left Aave holding what risk managers described as bad debt — losses that spread through the broader crypto lending market because of how tightly connected these protocols are to one another. so a council can just freeze 30k eth and we’re still calling this decentralized? — Sandy.ETH (@david_lee2085) April 21, 2026 Backlash From The Community Not everyone welcomed Arbitrum’s response. On X, several users pushed back hard , arguing that a blockchain capable of freezing funds on council orders cannot honestly call itself decentralized. The criticism cuts at a long-standing tension in the crypto world: security measures that protect users can also be the same tools that override them. Arbitrum said the council weighed its responsibilities carefully, taking care not to affect other users or running applications on the network. Whether that assurance satisfies critics remains an open question. What is clear is that 30,000-plus ETH is now sitting in limbo, and the next move belongs to Arbitrum governance. Featured image from Unsplash, chart from TradingView
Will Won-based stablecoins survive the Bank of Korea's chief plans to accelerate CBDC and commercial banks-issued deposit tokens?
Bitcoin climbed above $77,000 after the US extended its ceasefire deadline with Iran, calming immediate geopolitical fears and supporting a mild recovery in crypto markets. Oil prices slipped as tensions eased, with Brent crude and WTI crude both falling over 2%, signaling reduced concerns over supply disruptions. Institutional demand remains a steady driver, as strong inflows into Bitcoin ETFs continue to tighten supply and shape price trends despite mixed short-term market sentiment. Bitcoin moved back above the $77,000 mark after a shift in geopolitical developments involving the US and Iran. The price recovery followed news that the ceasefire deadline between the two sides would be extended. This eased immediate market concerns and brought a decent sense of stability across risk assets. Bitcoin was trading at $77,518.04 at the time of writing. The crypto rose 2.45% in 24 hours. The gesture was small but significant: It emerged after a period of uncertainty associated with international tensions. Ethereum also recorded a slight increase. It was at $2,361, a 2.28 percent increase for the same time period. Bitcoin Surged above $77K Mark As did Donald Trump’s speech the day before. The US would postpone a planned military strike on Iran, he said. The decision came after requests from Pakistan’s leadership, including its Prime Minister and Army Chief. The US has now extended the ceasefire deadline and asked Iran to present a unified proposal for negotiations. The statement also clarified that military readiness would remain in place. A naval blockade on Iran would continue during this period. The ceasefire, according to the announcement, will stay active until Iran submits a proposal and the negotiation process is completed. The outcome of those talks remains uncertain. Iran responded through its state media. Officials claimed the country had already secured a strong position in the conflict. Control over the Strait of Hormuz was highlighted as a key advantage. This route remains one of the most important channels for global oil shipments. Iran confirmed a temporary halt in military operations. At the same time, it maintained that the conflict had not ended. Officials also called for caution toward negotiations. They said any talks should honour Iran’s independence and its national priorities. These comprise defense systems, missile programs, and nuclear technology. The change in tone had an immediate impact on energy markets. The announcement sent oil prices lower. Brent crude plunged more than 2% from its intraday high and settled near $93.45 per barrel. WTI crude also declined by over 2%, trading at about $91.75 a barrel. The easing in oil prices suggested diminishing worries about immediate supply disruption. Crypto markets responded in parallel. Bitcoin’s comeback was a positive response to the rising sentiment across. While the price increase remained limited, the move showed how closely digital assets track macro signals during periods of tension. Institutional demand continues to support Bitcoin’s structure. U.S. spot Bitcoin exchange-traded funds have emerged as a major driver. As of April 22, 2026, total assets under management in these ETFs stood at $102.91 billion. Recent data shows a strong link between ETF inflows and price movements. After a phase of outflows, March saw a reversal. Net inflows reached $1.32 billion during the month. Each inflow requires actual Bitcoin purchases. This reduces the available supply on exchanges and adds upward pressure on price over time. At the same time, it concentrates holdings within institutional channels. Technically, Bitcoin faces immediate resistance at the recent swing high of $78,320. A decisive break above this level could open a path toward the 127.2% Fibonacci extension at $81,951. Key support lies at the 23.6% retracement level of $75,170.
Sullivan & Cromwell’s Andrew Dietderich said the company has AI policies to prevent incorrect citations and other errors, but procedures weren’t followed on this occasion.
Funds were stopped mid-escape...so who really controls DeFi when it matters?