🧿 ETH Meets the Courtroom What looked like a neat recovery path for the KelpDAO exploit has turned into a legal snare: the recovered ETH is now under a U.S. court order, not under DAO discretion. My read is that this is the real price of centralized intervention inside “decentralized” systems — once assets are seized through identifiable channels, they stop behaving like protocol-native funds and start behaving like contested property. ⚖️ The bullish angle is that this forces DeFi teams to confront legal reality instead of pretending code alone settles everything. The bearish angle is more uncomfortable: every recovery mechanism that leans on centralized control also creates a choke point, and now reimbursement plans can be frozen by competing claims from outside the protocol. 👁️‍🗨️ The sharp takeaway is that the hack is no longer just an on-chain event; it has become a jurisdictional battle, and that changes how risk gets priced in DeFi. #ETH #DeFi #Arbitrum