According to CoinMeta, Binance initiated a proposal on the governance forum on Arbitrum, requesting to return 8,425.997 ETH and 74.56 million ARB that were frozen on Arbitrum One to designated addresses. These assets originated from a theft incident involving Binance’s hot wallets and were previously frozen by the Arbitrum Security Committee. Binance has pledged to cover users' losses through the SAFU fund and the company’s treasury, and the returned assets will be used to compensate for the losses and costs incurred due to the incident. The proposal is currently in the discussion phase on the forum and will subsequently go through the snapshot intention voting process as well as the on-chain governance procedures, with the entire process expected to take about 49 days.