

Xavi | Machine #777
3.8K posts

@BTCMachine777
Team @bracket_fi @seekermint_app @btcordinal



The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiter’s identity, and, at all times, weighed its commitment to the security and integrity of the Arbitrum community without impacting any Arbitrum users or applications. After significant technical diligence and deliberation, the Security Council identified and executed a technical approach to move funds to safety without affecting any other chain state or Arbitrum users. As of April 20 11:26pm ET the funds have been successfully transferred to an intermediary frozen wallet. They are no longer accessible to the address that originally held the funds, and can only be moved by further action by Arbitrum governance, which will be coordinated with relevant parties.













Bitcoin is roughly 60% of crypto's total market cap but less than 2% of it touches DeFi. Most BTC sits idle without going anywhere. @Starknet is trying to change this through BTCFi. Bitcoin can now be staked with Starknet validators, earn 2-4% APR, and stay liquid through LSTs that can be borrowed against, LP’d, or deployed into vaults. Borrowing demand for USDC against BTC deepens stablecoin liquidity, and all of this activity feeds trading venues, lending markets, and yield strategies downstream. Under the hood, the network uses transparent, hash-based STARK proofs to deliver quantum-resistant security without new trust assumptions. Most chains rely on elliptic curve cryptography, which works today but is vulnerable to future quantum computers. STARKs use collision-resistant hash functions like SHA-256 instead, which are simpler, widely studied, and have no known quantum attacks. For an asset people plan to hold for decades, that matters. With 100M STRK committed to bootstrapping liquidity and more upgrades ahead, Starknet is moving beyond a high-performance Ethereum rollup to become its own self-sufficient network anchored to both Bitcoin and Ethereum.


