Arbitrum’s Security Council Can Move a Wallet’s Funds Without Its Key, Binance Freeze Shows

Arbitrum's Security Council froze 8,426 ETH and 74.6 million ARB on Oct. 30, demonstrating its ability to move a wallet's funds without its key. A Nov. 2 walkthrough on Ethereum Magicians traced how the transfers were sent in the holder's name, raising questions about security and decentralization in Arbitrum's governance.