Arbitrum freezes $30M in Binance hack-linked funds as ARB falls 4.5%

Arbitrum's security council executed an emergency freeze of approximately $30 million in Binance hack-linked funds on the network, as the ARB token fell 4.5% in the past 24 hours. The frozen assets are connected to the September exploit of Binance Bridge, in which attackers drained funds before moving them through the Arbitrum ecosystem. The move demonstrates the Arbitrum DAO's emergency powers, which allow the security council to freeze assets without a full governance vote, a capability that has drawn both praise for protecting users and criticism from decentralization purists. The price decline pushed ARB to trade near $0.30, with the token down roughly 90% from its all-time high above $2.40. Traders are watching whether the freeze triggers further sell pressure or restores confidence in the layer-2's security framework, with technical support levels at $0.141 and $0.131 in view if bearish momentum continues.