Binance asks ArbitrumDAO to release 8,426 ETH and 74.56M ARB frozen after hack
The forum proposal covers about $30.6M frozen after the 29 October hack. No vote has been held, and Binance expects the process to take about seven weeks or longer.
· Announced · Verified 2026-11-07 via official announcement
Announced Nov 5, 2026: Binance asks ArbitrumDAO to release 8,426 ETH and 74.56M ARB frozen after hack. Affects: ARB holders and delegates who would vote, and Binance. Source: forum.arbitrum.foundation, verified Nov 7, 2026. If this rules Binance out, our top-listed alternative is Bybit (0.2% round trip; code WQ3GV, $20 sign-up bonus).
Binance posted a draft Constitutional proposal on Arbitrum's governance forum on 5 November 2026 asking ArbitrumDAO to release 8,425.997 ETH and 74,559,805.2 ARB to a Binance recovery address. Arbitrum's Security Council froze the funds after the Binance hack, and it says they can only be moved by a DAO vote. Crypto Times, citing Arkham, valued them at about $30.59M on 5 November.
Nothing has moved. The proposal lays out about 49 days: one week of forum discussion, a one-week temperature check, a two-week onchain vote and about 18 more days until execution. That can run longer if legal process affects the funds. The funds stay at the frozen address unless the vote passes. As of 7 November the forum thread showed no date for the temperature check; delegate groups SEEDGov and Axia posted in support on 6 November.
The money would not go to individual users. Binance says it is covering losses from its SAFU fund and treasury, and that returned assets would be applied to incident losses and costs, including refilling those reserves. The proposal notes that third parties have previously claimed assets frozen on Arbitrum One after exploits. It will not go onchain while a court order or similar restraint is in effect. Binance would hold returned funds unmoved until any such process is resolved and return them or their value if a court finds another party is entitled to them.
Binance also offers to sign indemnity agreements with the Arbitrum Foundation, Offchain Labs and Security Council members before an onchain vote, and is asking for no new DAO treasury money. Crypto Times describes the indemnity as uncapped, excluding willful misconduct and fraud. This is separate from a Polygon proposal that would return blocked POL through a hard fork. The Council also froze 30,766 ETH in April 2026 over the KelpDAO exploit, Crypto Times notes.
“We are aware this involves going through the full governance process and may take approximately seven weeks or longer to complete.”
— Binance, Arbitrum governance forum proposal, 5 November 2026
Who this affects
ARB holders and delegates who would vote, and Binance. Binance users receive nothing directly from this proposal.
Binance at a glance
Binance is a centralised crypto exchange founded in 2017 by Changpeng Zhao, now run under Abu Dhabi (ADGM) entities regulated by the FSRA. It offers spot, margin, futures, options, earn products and P2P. Regular users pay 0.10% spot maker and taker (0.075% when paying fees in BNB) and 0.02%/0.05% on USDT-margined futures. It does not serve the US, Canada or the Netherlands; Binance.US is a separate company.
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Official site: binance.com
More from the newsroom
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- Arbitrum governance forum - [Constitutional] AIP: Approve Release of Frozen ETH and ARB (2026-11-05) — checked 2026-11-07
- Arbitrum governance forum - Security Council Emergency Action, 30/10/2026 — checked 2026-11-06
- Crypto Times - Binance Seeks ArbitrumDAO Approval to Recover $30.5M in Frozen Crypto (2026-11-05) — checked 2026-11-06
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