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Unchained

Arbitrum Froze $70M From North Korea? Griff Green on the Decision + Miguel Morel on the Hack

Unchained

Laura Shin

Tech News, Business News, News

4.61.3K Ratings

🗓️ 26 April 2026

⏱️ 68 minutes

🧾️ Download transcript

Summary

KelpDAO’s hackers left telltale signs pointing to one culprit, North Korea. Then, in a surprise move, the Arbitrum Security Council decided to fight back. ======================================================== Thank you to our sponsors! As Bitcoin's application layer, Citrea gives you access to the first trust-minimized BTC on a fully programmable platform and a native stablecoin for Bitcoin, ctUSD.  You can now participate in Bitcoin capital markets with lending, privacy, payments, Bitcoin yield, trading and predictions. You get expanded Bitcoin utility without sacrificing its security.  Citrea mainnet is live. Put your BTC to work at citrea.xyz/unchained.   Ether.fi is giving Unchained listeners 15% cashback on food and ride apps — and that's on top of the 3% you get on everything else.  Your bank is charging you to use your own money. Laura switched and loves her card! Go to ether.fi/unchained to claim your offer. Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges.  Get started at http://nexo.com/unchained ======================================================== In this episode about the hack on KelpDAO that had a broad impact across all of DeFi, Miguel Morel of Arkham, explains what digital fingerprints made it clear North Korea was the likely hacker, plus how it is that Arkham’s users are using the platform to figure out how to get their bad debt out of Aave and when. Then Griff Green, a member of the Arbitrum Security Council, explains some of the reasoning that went into the decision to freeze $71 million of the funds stolen by DPRK, how the surprise move worked technically, and why blockchains are immutable only by social consensus — and how even Bitcoin could be changed by social consensus. Host: ⁠⁠⁠⁠⁠Laura Shin⁠⁠⁠⁠⁠, Host / Unchained Guests: Miguel Morel, CEO of Arkham Intelligence Griff Green, Arbitrum Security Council Member, Leader of the DAO Security Fund, Co-founder of Giveth Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Hi everyone, welcome to Unchained, your no-hap resource for all things Crypto. I'm your host,

0:04.8

Laura Shin. Thanks for joining this live stream. Before we get started, a quick reminder. Nothing you

0:09.6

hear on Unchained is investment advice. This show is for informational and entertainment purposes only,

0:14.0

and my guest and I may hold assets discussed in the show. From our disclosures, visit Unchained Crypto.com.

0:19.9

Bitcoin changed how money works.

0:22.4

Citrea changes how Bitcoin scales.

0:24.4

With a trust-minimized BTC and a native staple coin, CTUSD, you can finally access Bitcoin

0:30.4

capital markets with lending, privacy, Bitcoin yield, and more.

0:34.2

Put your BTC to work at sitrea.x.xie.com. Introducing Nexo, the premier digital

0:41.5

wealth platform. Receive interest on your digital assets. Barrow against them without selling. Trade a

0:47.6

variety of cryptocurrencies. All in one platform. Now available in the U.S. Get started today at nexo.com slash unchained.

0:57.4

Etherfi is giving Unchained listeners 15% cash back on food and ride apps, and that's on top

1:03.0

of the 3% you get on everything else.

1:04.9

Your bank is charging you to use your own money.

1:07.3

I switched.

1:08.2

Go to Ether.Fi slash Unchained to claim your discount. I switched. Go to ether.fI. slash unchained to claim your discount.

1:15.3

Today's topic is how the Kelp-Dow hack unfolded. Here to discuss is Miguel Morrell,

1:20.6

CEO of Arkham. Welcome, Miguel. Thank you for having me on the show.

1:25.6

This week, we saw what is in some ways the biggest hack to date in terms of collateral

1:30.4

damage in Defi.

1:32.5

North Korea exploited Kelpdows, layer zero powered R.S.

1:35.7

Eathbridge and created 116,500 restaked ETH tokens.

...

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