New York Judge Pushes Back Hearing for Aave’s Bid to Unfreeze $71M in ETH

A New York judge has postponed a hearing regarding Aave's emergency request to unfreeze $71 million in ETH, which was frozen by Arbitrum. This ETH is intended to aid in the recovery efforts following the $293 million Kelp DAO hack. The delay comes after US law firm Gerstein Harrow LLP filed a restraining notice, claiming its clients have a right to the funds. Aave argued that not unlocking the funds could lead to user liquidations and market destabilization. Judge Margaret M. Garnett requested additional information from both Aave and Gerstein Harrow, citing the complexity of the case and the need for clearer explanations on potential compounding losses, creditor priority, and the legal standing of hackers. Supplemental briefs are due by May 22, with a new hearing scheduled for June 5. This development occurs amidst broader recovery efforts for Kelp DAO, which has seen the hacker's rsETH burned on Arbitrum and plans to restore lost tokens via the Aave Recovery Guardian multisignature wallet.

(Source：Cointelegraph)