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Aave seeks emergency hearing to challenge ‘catastrophic’ restraining order
The order is tied to nearly $71 million in rsETH that Arbitrum DAO froze from the April 18 Kelp DAO hack and is meant for a recovery fund.
Aave LLC has filed an emergency motion seeking to void a restraining order it characterizes as “catastrophic,” and a federal judge in New York has scheduled a hearing for Wednesday, according to DL News.
The dispute centers on efforts to compensate victims of an April 18 hack allegedly carried out by North Korean hackers, in which the attackers stole nearly $300 million in rsETH from the Kelp DAO protocol.
DL News reports that the stolen crypto was used as collateral on Aave to borrow more liquid assets, but several organizations froze part of the haul before it could be laundered, with Arbitrum DAO freezing crypto worth about $71 million.
The emergency hearing could determine whether relatives of a slain South Korean minister, including Han Kim and Yong Kim, are entitled to the frozen $71 million, after they cited US federal court legal judgments against North Korea, including a $330 million judgment in 2015.