Arbitrum DAO to Unlock $70M ETH for KelpDAO Recovery

The post Arbitrum DAO to Unlock $70M ETH for KelpDAO Recovery appeared first on Coinpedia Fintech News

Arbitrum DAO is voting to release 30,766 ETH (around $70M) previously frozen after the KelpDAO hack. The funds were secured by the Security Council and now require community approval to be redeployed. If the proposal passes, the ETH will be sent to DeFi United, a joint recovery initiative working to restore rsETH backing. The vote remains open until May 7, and approval would make Arbitrum one of the largest contributors to the recovery effort.