Arbitrum’s council moved $30 million of Binance hack funds without the hacker’s key

Arbitrum's security council executed an emergency intervention on Thursday, temporarily rewriting a core contract to recover roughly $30 million in BNB from the address linked to October's Binance Bridge hack, despite not holding the hacker's private key. The 12-member committee used its emergency powers to modify the contract, drain the funds, and then restore the original code, marking the second such council intervention this year. The move demonstrates the significant upgrade authority embedded in Arbitrum's governance structure, which allows the DAO's security council to act unilaterally in crisis situations. The recovery follows the $570 million Binance Bridge exploit, in which the hacker moved stolen assets to Arbitrum and other chains. Observers will be watching for community reaction to the council's exercise of power, as well as whether the recovered funds are returned to Binance or held pending further legal process.