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Binance seeks DAO approval to release 8,425 ETH and 74.56M ARB frozen after hack, starting a 7-week governance process.

Market News
05 Nov 2026, 18:07 WIB
Crypto news
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Binance seeks DAO approval to release 8,425 ETH and 74.56M ARB frozen after hack, starting a 7-week governance process.

Binance has requested Arbitrum's DAO to release 8,425.997 ETH and 74.56 million ARB tokens frozen after a hot-wallet exploit, initiating a governance process expected to last around seven weeks. The release requires approval from ARB tokenholders and delegates through Arbitrum's constitutional governance, involving forum discussions, a Snapshot vote, and an onchain vote. Binance plans to cover user losses via its Secure Asset Fund for Users (SAFU) and company treasury, with recovered assets used to compensate affected customers. Meanwhile, Binance is gradually reopening withdrawals for various assets after security checks and has removed API keys linked to SignalPlus due to a potential security issue reported by the third-party platform.

Binance's request to recover frozen ETH and ARB tokens provides context for crypto market activity. For readers following major cryptocurrencies on Pluang, here is the market snapshot as of Nov 05, 2026 22:52 WIB: out of 50 major cryptocurrencies, only 3 rose while 46 fell. Among notable movers, SUSHI dropped 10.23% to Rp3.221 with a typical hold time of 103 days and a near-even buy-sell split, FIL fell 10.10% to Rp14.515 with a 100-day hold and strong buy activity at 93%, and KSM declined 9.94% to Rp57.468 with a 100% buy order activity and an 81-day hold time.

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