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Aave seeks emergency hearing to challenge restraining order in Kelp hack
The hearing in New York could decide whether relatives of a slain South Korean minister can claim about $71 million in frozen crypto tied to the April 18 Kelp DAO hack.
DL News reports that Aave LLC filed an emergency motion seeking to void a restraining order in connection with crypto assets tied to an April 18 hack of Kelp DAO.
According to the outlet, a federal judge scheduled an emergency hearing for Wednesday in New York, a step that could determine whether relatives of a South Korean minister are entitled to about $71 million in crypto that was nearly stolen by North Korean hackers.
DL News says the April 18 exploit resulted in hackers taking nearly $300 million in rsETH from the Kelp DAO protocol, then using the stolen crypto as collateral to borrow more liquid assets on Aave.
The outlet adds that Arbitrum DAO was able to freeze crypto worth about $71 million and that it is poised to send the frozen assets to a recovery fund, while other victims are trying to claim the frozen holdings based on prior legal judgments against North Korea, including a $330 million US federal court judgment won in 2015 by Han Kim and Yong Kim.