Arbitrum

15 hours agoNews Editor

Arbitrum says Security Council moved funds tied to Binance exploit-linked address without affecting users or apps

Arbitrum said its Security Council took emergency action to secure assets held by an address on Arbitrum One linked to the Binance exploit, moving 74,559,805 ARB and 8,425 ETH to a safe location. The project said the action followed technical due diligence and deliberation by the committee and did not affect any Arbitrum users, applications, other users, or the state of other chains. As of Oct. 30, 2026, the funds had been transferred to an intermediary frozen wallet, and the original holding address could no longer access them. Arbitrum added that the assets can now be moved only through further action by the Security Council or via an Arbitrum DAO governance vote, with next steps to be coordinated with relevant parties. The statement was published by Arbitrum on X.

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Polygon

1 months agoNews Editor

Polygon readies permissionless contract for 100 million POL burn

Polygon is preparing a permissionless contract that would allow anyone to trigger the permanent destruction of 100 million POL, according to comments from Polygon Foundation CEO Sandeep Nailwal. He said the contracts are already on testnet and will move to mainnet after the final Security Council signatures are completed. Nailwal said the first transaction would burn 100 million POL in a single call. After that, burns would shift to a quarterly schedule, with community members able to trigger them. Based on his figures, the base-fee collector currently holds 121 million POL, so the initial burn would remove roughly 83% of that balance and leave about 21 million POL before new fees accrue. The planned burn equals 1% of POL’s initial 10 billion supply. Using Blockscout’s listed total supply of about 10.716 billion POL, the reduction comes to roughly 0.93% of total supply. Polygon’s token documentation says POL does not have a hard cap and carries ongoing emissions at an effective annual rate of 2% starting after June 2025. Nailwal also said POL has been deflationary since January 2026. He further claimed Polygon generated $24.5 million in 2026 revenue, versus $8.41 million for Arbitrum and $5.6 million for Near, while adding that the comparison came from 「my analyst at ChatGPT」 without naming a dataset or methodology.

720

Scroll DAO

3 months agoNews Editor 01

Scroll DAO Dissolves Security Council, Cuts Roles Amid Cost-Pressure and Fee Controversy

Scroll DAO plans to dissolve its decentralized Security Council, shifting protocol control to an internal multisig, while cutting multiple contributor roles. The move follows a sharp fee hike that forced users to pay over $50,000 extra in six days, raising governance concerns.

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Arbitrum

3 months agoNews Editor 01

Arbitrum Security Council Recovers $71M ETH, Sparking Decentralization Debate

The Arbitrum Security Council used emergency multisig powers to reclaim about $71 million in ETH stolen from the KelpDAO exploit. The funds now sit in a governance-controlled frozen address. The community is split: some cheer the rescue, others decry it as proof Layer 2s are not truly decentralized.

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ENS DAO

3 months agoNews Editor

ENS DAO approves two-year security council to block malicious transactions

ENS DAO has approved the creation of an eight-member security council with a two-year term, adding a new safeguard to the protocol’s governance process. The council will operate under a 5-of-8 multisig structure and can cancel malicious transactions during the two-day timelock period after a governance proposal passes. According to the update, the body holds veto power designed to stop potentially harmful transactions before they affect the protocol. The move is described as an important upgrade to ENS governance security, with the multisig and timelock setup intended to strengthen protection around proposal execution.

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ENS

3 months agoNews Editor

ENS DAO Votes on New Security Council to Restore Emergency Veto

ENS DAO is in the middle of an onchain vote to install a new Security Council, a body that would regain the protocol’s emergency veto over malicious governance proposals. The measure was submitted by ENS co-founder Nick Johnson and had 712,320 ENS votes in favor as of Monday, with zero against and 66,730 abstaining. That put total participation at 779,050 votes, still short of the DAO’s 1 million-token quorum, with voting set to close around July 20. The proposal would give the council a tightly limited role: it can cancel timelocked proposals it considers malicious, but it cannot create, amend, or launch governance actions. The new setup would run on a 5-of-8 multisig for two years, expiring on July 16, 2028, unless the DAO separately votes to extend it. Members must also sign an Appointment Agreement with the ENS Foundation and complete KYC and background checks before taking their seats. The vote comes after a governance dispute in June, when Johnson blocked an earlier renewal proposal onchain after it had passed an offchain Snapshot vote. Critics argued that Johnson’s token holdings gave one address too much influence over DAO outcomes. The new framework is now being presented as a more constrained and time-sensitive handoff before the current council’s term ends on July 24.

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Arbitrum

3 months agoNews Editor 01

Arbitrum Security Council Freezes 30,766 ETH from KelpDAO Exploiter in Emergency Onchain Action

The Arbitrum Security Council froze 30,766 ETH (~$70M) from the KelpDAO exploiter on Arbitrum One before it could be bridged back to Ethereum mainnet, sparking centralization debates.

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ENS

4 months agoNews Editor

ENS Founder Nick Johnson Uses Large ENS Holdings to Veto Security Council Renewal, Seeks to Reclaim Treasury Control

The ENS DAO security council renewal proposal entered on-chain voting, but founder Nick Johnson cast a veto using his substantial ENS holdings. He also proposed a new council framework on the forum, aiming to transfer most DAO operational power and treasury control to the ENS Foundation. The security council was originally designed to veto malicious proposals and protect treasury assets.

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