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On a day when the CFTC has ripped Binance’s credibility to shreds with a hard-hitting indictment that includes everything from willful evasion of federal laws to violation of terror financing and anti-money laundering rules, it makes sense for Twitter to throw a random hissy fit (apparently) and terminate the Twitter account of Ethereum’s Layer-2 scaling solution, Arbitrum.
As a refresher, Arbitrum aims to ease the congestion on the Ethereum mainnet by bundling and processing transactions on its Layer-2 blockchain, which sits on top of the Ethereum main chain. Ethereum can process around 14 transactions per second. Arbitrum, on the other hand, can process around 40,000 transactions per second. The L-2 solution also offers support for the Ethereum Virtual Machine, thereby allowing seamless connectivity with apps that run on the native Ethereum ecosystem.
Arbitrum Twitter Account Suspended@Twitter any reason why @arbitrum account is suspended?#Arbitrum pic.twitter.com/l54er7TYFa
— Arbitrum IDO Launchpad (@arbitpad) March 27, 2023
This brings us to the crux of the matter. As is evident from the tweet above, Arbitrum’s Twitter page has gone offline.
https://twitter.com/sniko_/status/1640416478666080274
Meanwhile, and in what constitutes an ironic twist, many of the imposter Arbitrum pages are still online.
For the uninitiated, Arbitrum recently launched its native governance token, ARB, to much fanfare. According to Coin Telegraph, an average user who participated in ARB’s airdrop received 625 tokens, corresponding to a haul of between $625 and $1,250, based on estimations and pre-launch token prices.
Nonetheless, the launch was marred when hackers managed to steal around $500,000 worth of Arbitrum tokens. Apparently, the hack was focused on vanity addresses, which are customized by their owners to imbue a personal touch by including specific words or phrases. The hacker was able to mimic the targeted vanity addresses by using a vanity address generator. They then were able to receive a portion of the airdrop meant for the original vanity addresses.
Meanwhile, we await any word from Twitter on why Arbitrum has been suspended. Stay tuned!
Update: Arbitrum's Twitter Account has been Restored
Arbitrum's Twitter account is back now. The saga has significantly impacted the price of Arbitrum Coin, which is still down around 10 percent.
About the author: Writing is my one incontrovertible passion. Over the past six years, he has authored over 2,200 distinct articles on financial and tech-related topics, spanning nearly 1 million words. And he has been a member of Wcctech mobile team since 2025. As an alumnus of the University of Toronto, Rotman Commerce Program, I bring nuance, in-depth knowledge, and a unique perspective to every topic that I cover. When I'm not writing, I'm traveling the world, exploring hidden confectionaries and restaurants as an aspiring food connoisseur.
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