Judge Allows Governance Vote on $71M Frozen ETH Transfer to Aave

• Judge Garnett modified the Arbitrum restraining notice to allow an on-chain transfer to Aave LLC.
• Anyone voting or participating in the on-chain transfer will not violate the restraining notice.
• Once transferred, Aave LLC must abide by the same restraining notice terms as Arbitrum DAO.

A Manhattan federal judge has modified a restraining notice that had frozen $71 million in Ether on Arbitrum, clearing the way for the funds to be transferred to a wallet controlled by Aave LLC.

Judge Margaret Garnett’s order, issued under New York Civil Practice Law and Rules Section 5240, modified the restraining notice previously served on Arbitrum DAO. The court’s language was precise on three points:

• First, an on-chain governance vote to transfer the frozen assets to Aave LLC is now permitted. 
• Second, nobody involved in that process faces legal exposure. The order state…

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