On March 31, blockchain security firm Peckshield reported that two malicious players had stolen over a million Arbitrum (ARB) tokens from a wallet connected to an exploiter. The wallet, identified as "0xbd4E," converted 933,375 ARB to 713 Ethereum (ETH) worth about $1.27 million, and then transferred the tokens to a mainnet. As of press time, it was unclear if the two wallets were connected to the same exploiter or not.

In addition, web3 knowledge protocol 0xScope concluded that an externally owned account (EOA) - suspected to be UPbit - collected a large amount of ARB tokens in the past day. As per on-chain data, this wallet holds 59 million tokens worth $84.4 million, which is the second highest amount after Binance.

On March 25, blockchain security firm Certik also reported a phishing site advertised by a fake Arbitrum Twitter account. A victim, Henry, said that he lost 7250 ARB tokens to the hacker. On the same day, Arkham Intelligence tweeted that crypto wallets connected to bankrupt crypto firm Alameda Research had claimed 33,125 ARB tokens - worth $45,000 - from the March 23 airdrop.

ARB is currently trading at $1.35141, down 2.72% in the last 24 hours, according to CryptoSlate data. The price of the token has started to stabilize following a heavy sell-off that occurred after its launch on March 23. ARB is among the top 40 digital assets by market cap, with a current valuation of $1.7 billion. Additionally, with more than $6 billion worth of assets currently locked in the network, Arbitrum remains the most popular layer2 solution.



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