Why People Who Argue Arbitrum Violated DPRK's Property Rights Are Ridiculous

Description

By Tuesday afternoon, North Korea had started laundering. The window was hours. What happened next had never been done on a major L2. Arbitrum's security council upgraded its L1 inbox contract, injected a transaction as if the hacker's address had sent it, moved $70M to a rescue address, and upgraded the contract back. From the chain's perspective: a valid state transition. From the DeFi community's perspective: a line crossed that can't be uncrossed. Kain Warwick of Infinex and Synthetix), Taylor Monahan, security expert, Luca Netz of Pudgy Penguins Odysseas Lamtzidis walk through the exact mechanism, why Taylor still didn’t think it was going to work even as it happened, and what it means that nine of twelve people agreed to sign in a space where you can’t normally get two DeFi people to agree on anything. Plus: Griff’s quote, the property rights debate, and why Kain calls this the watershed moment. This clip is from a longer conversation on the Kelp DAO hack, the Arbitrum intervention, and the future of DeFi governance. Full episode here: https://youtube.com/live/mr7I69N_UTE We go live every Wednesday at 4:00 PM ET — subscribe to catch it live. Sponsored by MultiChain Advisors: MultiChain Advisors is an emerging technology growth firm that has helped create $50B+ in enterprise value for 80+ clients over the past 4 years. They're the partner to help navigate markets. Build real traction today at multichainadv.com Timestamps 🏛️ 00:00 What Arbitrum actually did, and why people denied it happened 🔐 02:01 Taylor: what the sequencer can and cannot do on an L2 ⚙️ 05:44 Odysseas: the exact L1 contract upgrade, step by step 🔗 06:27 Kain: why this was technically a valid state transition 😱 07:09 Taylor: why she still didn’t think it was going to work 🌺 08:15 Why nine of twelve signers is harder than it sounds ⚡ 10:36 Griff’s quote and the end of the ‘we can’t do things’ era 🏴 12:53 How DPRK uses property rights arguments to unfreeze stolen funds 📈 16:21 Why Kain thinks Arbitrum will gain TVL, not lose it _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!