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US Firm Seeks to Freeze Arbitrum’s $73M ETH in Kelp Case
Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
U.S. law firm Gerstein Harrow has filed a restraining notice seeking to prevent Arbitrum DAO from returning 30,766 ETH, worth about $73 million, that was frozen after the Kelp DAO exploit. The firm argues the stolen funds are linked to North Korea-backed hackers and should be classified as DPRK-related assets under existing sanctions and judgments. It further claims the ETH should be redirected to satisfy outstanding court rulings, where its clients are still owed more than $877 million from prior cases involving North Korea, turning the case into a broader dispute over crypto seizure, attribution, and cross-border debt enforcement.
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