Binance Asks Arbitrum DAO to Return 8,425.997 ETH and 74.56 Million ARB

The request starts Arbitrum’s formal forum discussion, temperature check and onchain vote that could delay any transfer for roughly seven weeks or more.

Overview

Binance formally filed a recovery proposal on Nov. 5 seeking return of 8,425.997 ETH and 74.56 million ARB that were frozen after the exchange’s hot‑wallet exploit.
Arbitrum’s Security Council immobilized the funds by temporarily upgrading the Inbox contract on Oct. 30 and moving the balances to a frozen intermediary address that only the DAO can authorize to move.
The protocol’s constitutional path requires forum debate, a one‑week temperature check and an onchain vote plus cross‑chain finality waits, steps Binance expects to take about 49 days or longer to complete.
Binance’s draft terms would pause any onchain submission if a court order or legal restraint appears and require the exchange to sign indemnity agreements governed by New York law before delivery.
Binance said it will cover affected users with its SAFU reserve and company treasury, has begun progressive withdrawal reopenings after security checks, and removed SignalPlus‑linked API keys as a precaution.