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SOL $76.61 -0.19%
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LINK $7.98 -0.46%
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SUI $0.7328 -1.21%
XLM $0.1835 -1.31%
ZEC $515.86 -1.71%
BTC $63,044.49 -1.45%
ETH $1,785.18 -0.97%
BNB $569.20 -0.84%
XRP $1.07 -1.41%
SOL $76.61 -0.19%
TRX $0.3300 +0.01%
DOGE $0.0723 -0.94%
ADA $0.1600 -2.76%
BCH $238.43 -2.38%
LINK $7.98 -0.46%
HYPE $65.18 -2.96%
AAVE $95.42 -2.63%
SUI $0.7328 -1.21%
XLM $0.1835 -1.31%
ZEC $515.86 -1.71%

arbitrum

Arbitrum is an Ethereum Layer 2 scaling solution created by the Offchain Labs team based on Optimistic Rollup technology. Arbitrum utilizes the communication capabilities between L1 and L2, allowing any form of Ethereum asset to be transferred between Layer 1 and Layer 2 without trust. Although Arbitrum transactions are still settled on Ethereum, Arbitrum only submits the raw transaction data to Ethereum, with execution and contract storage occurring off-chain. Therefore, the gas fees required by Arbitrum are significantly lower compared to the mainnet, and contracts are fully compatible with no gas limits.
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Robinhood Chain has been online for a week, with DEX trading volume exceeding 1 billion USD, ranking among the top five in the industry

According to a report by Decrypt, Robinhood Chain quickly became one of the most active public chains in the crypto market just one week after its launch.Official data shows that Robinhood Chain processed over 17 million transactions in its first week, with nearly 350,000 active addresses and a protocol TVL of approximately $250 million. The cumulative trading volume on the DEX surpassed $1 billion. On Wednesday, the single-day trading volume reached $568 million, with a 24-hour DEX trading volume of about $433 million, surpassing Hyperliquid and ranking fifth in the entire network.Driven by the explosive growth of the ecosystem, Meme coins on Robinhood Chain performed strongly, with Cash Cat's market capitalization exceeding $180 million, and tokens like Dog In Hood, Hoodrat, and Robinhood Summer seeing increases of several times or even dozens of times. Reports indicate that some traders turned $800 into over $1 million, while another user increased $85 to $2 million.As the underlying technology provider for Robinhood Chain, Arbitrum (ARB) has benefited significantly, with ARB rising about 20% on the day. According to the mechanism, Robinhood Chain will return 10% of the protocol's net income to the Arbitrum ecosystem.However, the report points out that currently, the activity of Robinhood Chain is still mainly driven by Meme coins, and whether it can smoothly transition to RWA and other application scenarios planned by Robinhood in the long term remains to be seen.

U.S. court approves Aave to transfer $71 million worth of ETH related to North Korean hacking incident

U.S. Manhattan Federal Court Judge Margaret Garnett approved Aave's asset recovery plan following the rsETH attack incident, allowing approximately $71 million in ETH that had previously been frozen on Arbitrum to be transferred to a wallet controlled by Aave.Court documents show that this decision modifies a prior injunction against the Arbitrum DAO, allowing the community to complete the ETH transfer through on-chain governance voting, while exempting participants in the voting and execution of the transfer from related legal liabilities. This incident stems from the rsETH attack that occurred in April, which has been widely attributed to the Lazarus Group, linked to North Korea. Previously, lawyers representing the families of North Korean terrorism victims had sought to freeze the related assets and attempted to include them in the compensation for an outstanding judgment of approximately $877 million.The Arbitrum community has shown strong support in a Snapshot temperature check vote for returning the frozen ETH to Aave's recovery plan, but the actual transfer still requires formal approval through on-chain governance. Reports indicate that this case is also part of the U.S. plaintiffs' efforts to recover crypto assets associated with North Korea. In addition to Arbitrum, the plaintiffs had previously sued the privacy protocol Railgun DAO and listed Digital Currency Group (DCG) as one of the defendants, accusing it of participating in related governance and economic activities.

US law firm applies to block the transfer of Kelp attack, freezing ETH, involving compensation amounting to over 870 million dollars

According to Cointelegraph, the U.S. law firm Gerstein Harrow LLP has applied to the court for an injunction to prevent Arbitrum DAO from transferring frozen Ethereum assets related to the Kelp attack.The law firm claims that its clients have obtained default judgments in three cases against North Korea, totaling approximately $877 million (including punitive damages and interest), and assert a right to claim the related assets.Previously, Kelp DAO was attacked on April 18, resulting in losses of about $292 million, which is believed to be related to the North Korean hacker group Lazarus Group. Subsequently, the Arbitrum security committee urgently froze approximately 30,766 Ether (about $73 million).The incident has sparked controversy. Some community members believe that if the injunction takes effect, it will delay the return of funds to the victimized users and shift the North Korean-related debts onto secondary victims. Previously, Aave Labs had proposed to unfreeze the funds and inject them into a compensation fund to restore the damaged assets.It is worth noting that Gerstein Harrow has previously filed claims regarding assets stolen by North Korean-related hackers and frozen by cryptocurrency platforms, including the 2023 Heco Bridge incident. Industry analysts believe that this case may have a demonstrative impact on the disposal of DAO assets and the definition of cross-jurisdictional claims.
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