Court allows transfer of $71M in ETH to Aave
A court has given Arbitrum DAO the green light to transfer $71M in ETH to Aave.
The decision follows a vote by Arbitrum delegates in support of the move as part of Aave’s recovery plan after a North Korea-linked exploit.
The transfer is part of a broader plan to compensate victims of the Kelp DAO exploit, with Aave having filed an emergency motion to vacate a restraining notice that had blocked the transfer.
Law firm Gerstein Harrow LLP, which represents families holding $877 million in unpaid terrorism judgments against North Korea, had claimed the funds belonged to its clients, but Aave argued that a thief does not gain lawful ownership of stolen property.