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Unchained

Uneasy Money: Who Owns Stolen Crypto? The $71M Fight Testing DeFi Limits

Unchained

Laura Shin

Business News, News, Tech News

4.61.3K Ratings

🗓️ 9 May 2026

⏱️ 74 minutes

🧾️ Download transcript

Summary

A legal battle over frozen KelpDAO hack funds is forcing DeFi to answer questions it has long avoided. Thank you to our sponsors!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Coinbase One: Get 20% off the first year of your Coinbase One annual plan at coinbase.com/unchained. Multichain Advisors: Get help navigating TGEs, go‑to‑market, BD and partnerships, capital markets advisory, PR, media placements, KOL activations and more at multichainadv.com. When the Arbitrum Security Council froze $71 million in funds tied to the KelpDAO  hack, it was hailed as vigilante justice. Now lawyers representing families of North Korea's victims are claiming that same money in a New York federal courtroom, as if theft transfers title.  Meanwhile, an AI agent running on Base got robbed via a prompt injection hidden in Morse code, and Coinbase cited artificial intelligence when announcing 14% layoffs.  Kain Warwick, Taylor Monahan, Luca Netz, and Kelsie Nabben, author of Decentralised Digital Security, work through what DeFi's security layer actually is, who gets to decide when to act, and whether any of it survives the arrival of autonomous agents. Hosts: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Kain Warwick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Founder of Infinex and Synthetix ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Taylor Monahan⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, Security Expert ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Luca Netz⁠⁠⁠, CEO of Pudgy Penguins Guest: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Kelsie Nabben, Research Fellow at RMIT University — Author of 'Decentralized Digital Security: Code, Community, Crisis' (2025) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey everyone, I'm Kane Warwick and welcome to Uneasy Money because what happens on chain never stays on chain.

0:06.0

Before we begin, here is a word from sponsors that make the show possible.

0:12.0

Multi-chain Advisors is an emerging technology growth firm that has helped create 50 plus billion dollars in enterprise value for 80 plus clients over the past four years.

0:22.8

They're the partner to help navigate markets. Build real traction today at multi-chain adv.com.

0:32.1

Hey guys. I'm here with my co-host Taylor Monaghan security expert and Luca Nets, the CEO of Pudgy Penguins.

0:39.0

And today we're joined by a special guest, Kelsey Nabin Research Fellow at RMIT, and author of the new book,

0:46.0

Decentralized Digital Security, Code Community Crisis.

0:50.1

It's out this year and it's open access, courtesy of the Ethereum Foundation, selling all its teeth.

0:57.4

So, I'm glad to come on to a good cause.

1:01.0

All right.

1:02.3

Be sure.

1:03.1

Podcasts are smarter than you and I.

1:04.7

Look at that.

1:05.9

I don't.

1:06.5

Yeah.

1:07.0

We must be doing something right because we're getting some smart people on here.

1:10.1

So it's good.

1:11.6

I love this.

1:13.6

So our first segment, we should just have like a rolling Ave segment.

1:20.6

It's just always AVE the first.

1:22.6

Like the theme music, right?

1:25.6

This is our AVE update section yeah literally and now for more

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