Arbitrum (ARB)

Welcome to our live show! ► Arbitrum Gets $70M of the hacked funds back ► Yields are very high ► What's safe to lend to, what isn't ► The aavethena loops, are they okay? ► And so much more Join us now: https://t.co/Z8NzHtYj5p

I am not attacking arb. I'm also not debating the pros and cons of decentralization. Saying these does not solve the industry's problems. What I want to say is All project teams should clarify their positioning and stance and the accountability after issues arise. The current crypto space has no legal constraints at all, and relying on morality won't go far. Project teams cannot, on one hand, manage everyone's money with a multisig, and on the other hand, cause problems without taking any responsibility. If you are purely decentralized, you can be non‑responsible. Code is law. If you use a multisig to manage funds, the project team should bear full responsibility when problems occur. Whoever gets hacked, whoever is responsible. It's that simple. If you cannot bear this responsibility and do not disclose clearly when creating the project, then it is no different from fraud. Therefore, disclosure, regulation, and accountability—the three cannot be missing. To solve problems, we should look for fundamental causes, not just think about solutions after someone gets hacked.

There is a big gaslight in crypto right now DON'T LET YOURSELF BE FOOLED! + people are advocating for centralization to make up for the hack (e.g., Arbitrum freezing 30k ETH) + but centralization was what made the hack possible in the first place -- via centralized, insecure bridges managed by centralized admin keys (single point of failure) So, instead of advocating for more decentralization to make crypto and defi more secure (thus avoiding these centralized attack surfaces) the industry now pushes for even more centralization to try to solve a problem that centralization itself has created It's a hijack and a gaslight More decentralization would have prevented these hacks from happening We need more decentralization and better security standards, not less The same attack surface DPRK used to hack these protocols could be used to hack the tools that are being used to freeze and seize the stolen funds back -- they only need to compromise the right keys (i.e., Arbitrum's security council in this recent case) Stop the gaslight More decentralization has always been the answer, not less Decentralization is not only an ideological stance, it's a pragmatic better standard for security! Embrace decentralization decentralization fight the gaslight!

A recovery move after the 292m USD @KelpDAO hack is now raising bigger questions. Arbitrum’s Security Council used emergency power to freeze and move 71m USD from the hacker’s wallet to protect victims and reduce risk for Aave. The debate is simple. If 9 out of 12 members can move funds from any wallet, what does decentralization stand for? Today it protects users. Tomorrow it could redefine control on L2. This goes beyond stolen funds. It is a real test between freedom and safety in DeFi.

🚨 JUST IN: Arbitrum intercepts North Korean hackers, freezing $70M from KelpDAO exploit.

The competitive pressures in the blockchain industry thus far foster centralisation. States have been very slow to react faced with so many chains popping up that are not as decentralised like the OG chains, but it's a matter of time before they wake up and create regulatory pressures that will force decentralisation for competitiveness. More specifically, there's no way they'll sit back and allow Arbitrum or whomever else take unilateral decisions on whose funds can be seized or not. Projects that are building towards this reality may be disadvantaged now but they will be vindicated. It may be painful building decentralised infra but it's not as painful as being regulated in every jurisdiction under the sun.

How many of the Arbitrum multisig signers are US tax payers? There is a pretty convincing argument that they control 1/12 of the Arbitrum entity and hence should include 1/12 of its value in their tax returns. It’s just a unincorporated partnership owned by 12 people!

This evening a detailed article on this matter will be published, completely different and unlike what you currently see on Twitter, ⬅️ Data is important, institutions are important, asset tokenization is important, and user security is the most crucial, ✍️ Don't be fooled by the emotional chaos; investments and projects fail completely if driven by emotion, Important rule//Emotional impulses towards investments are usually situational and time‑specific, disappearing after days when you realize you've already become a victim of that impulse, merging your belief in what you saw on Twitter and making a decision based on everything above🧐 ✅ Stay awake and vigilant to be at the core of truth backed by data🤝