Huo Xing Finance reports that, on May 12, according to official updates to the Arbitrum DAO proposal, on May 1, a plaintiff in an unrelated case served a restraining order on Arbitrum DAO targeting ETH frozen following the rsETH incident. Several days later, Aave LLC filed an emergency motion to vacate the order. On May 8, the court modified the restraining order to permit on-chain Arbitrum voting and to transfer the frozen ETH to Aave LLC. Following the transfer, the restraining order will apply to Aave LLC. The revised constitutional AIP preserves Arbitrum DAO’s approved intent to recover assets, and the ETH will still be used for recovery from the rsETH incident. Aave LLC will comply with all court obligations during the litigation.
Abitrum DAO Court Updates: Frozen ETH to Be Transferred to Aave LLC
MarsBitShare
Summary
ETH news: On May 12, the Arbitrum DAO announced that a court revised a previous injunction, permitting the frozen ETH related to the rsETH incident to be transferred to Aave LLC. The updated AIP retains the asset recovery plan, with ETH still designated for rsETH recovery. Aave LLC will fulfill all court obligations during the ongoing legal proceedings. ETH update: This action follows legal adjustments but does not alter the intended use of the funds.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.