DPRK vs ARBITRUM DAO
Contents
Case 1:25-mc-00527-MMG
Document 42
Filed 05/04/26
Page 1 of 29
Case Nos.
25-MC-527-MMG
26-MC-033-MMG
26-MC-094-MMG
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
HAN KIM, et al., Plaintiffs,
v.
THE DEMOCRATIC PEOPLE’S
REPUBLIC OF KOREA, a.k.a. NORTH
KOREA, Defendant
~~~
ORAL ARGUMENT
REQUESTED
IN RE CENTRAL BANK OF THE
ISLAMIC REPUBLIC OF IRAN, et al.
~~~
RUTH CALDERON-CARDONA, et al.,
Plaintiffs,
v.
THE DEMOCRATIC PEOPLE’S
REPUBLIC OF KOREA, et al.,
Defendants
&
ARBITRUM DAO,
Garnishee (as to all cases)
NON-PARTY AAVE LLC’S MEMORANDUM OF LAW IN SUPPORT OF
MOTION PURSUANT TO FRCP 69 AND CPLR 5240 TO VACATE THE
RESTRAINING NOTICE SERVED ON ARBITRUM DAO
Jason Gottlieb
Michael Mix
Daniel Isaacs
Genny Ngai
William Roth
Vani Upadhyaya
Emma McGrath
MORRISON COHEN LLP
909 Third Avenue
New York, NY 10022
212-735-8600
Attorneys for Aave LLC
i
Case 1:25-mc-00527-MMG
Document 42
Filed 05/04/26
Page 2 of 29
TABLE OF CONTENTS
PRELIMINARY STATEMENT...................................................................................................... 1
RELEVANT BACKGROUND ....................................................................................................... 6
A.
The Aave Protocol, Its Users, and Its Relation to Arbitrum ............................................... 6
B.
The rsETH Incident............................................................................................................. 7
C.
The Deleterious Effects of the April 18 Exploit and the Global DeFi Community’s
Coordinated Recovery Efforts For the Aave Protocol Victims ........................................... 8
D.
Plaintiffs’ Restraining Notice Against the Immobilized Assets ........................................ 10
ARGUMENT .................................................................................................................................11
I. The …
Document 42
Filed 05/04/26
Page 1 of 29
Case Nos.
25-MC-527-MMG
26-MC-033-MMG
26-MC-094-MMG
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
HAN KIM, et al., Plaintiffs,
v.
THE DEMOCRATIC PEOPLE’S
REPUBLIC OF KOREA, a.k.a. NORTH
KOREA, Defendant
~~~
ORAL ARGUMENT
REQUESTED
IN RE CENTRAL BANK OF THE
ISLAMIC REPUBLIC OF IRAN, et al.
~~~
RUTH CALDERON-CARDONA, et al.,
Plaintiffs,
v.
THE DEMOCRATIC PEOPLE’S
REPUBLIC OF KOREA, et al.,
Defendants
&
ARBITRUM DAO,
Garnishee (as to all cases)
NON-PARTY AAVE LLC’S MEMORANDUM OF LAW IN SUPPORT OF
MOTION PURSUANT TO FRCP 69 AND CPLR 5240 TO VACATE THE
RESTRAINING NOTICE SERVED ON ARBITRUM DAO
Jason Gottlieb
Michael Mix
Daniel Isaacs
Genny Ngai
William Roth
Vani Upadhyaya
Emma McGrath
MORRISON COHEN LLP
909 Third Avenue
New York, NY 10022
212-735-8600
Attorneys for Aave LLC
i
Case 1:25-mc-00527-MMG
Document 42
Filed 05/04/26
Page 2 of 29
TABLE OF CONTENTS
PRELIMINARY STATEMENT...................................................................................................... 1
RELEVANT BACKGROUND ....................................................................................................... 6
A.
The Aave Protocol, Its Users, and Its Relation to Arbitrum ............................................... 6
B.
The rsETH Incident............................................................................................................. 7
C.
The Deleterious Effects of the April 18 Exploit and the Global DeFi Community’s
Coordinated Recovery Efforts For the Aave Protocol Victims ........................................... 8
D.
Plaintiffs’ Restraining Notice Against the Immobilized Assets ........................................ 10
ARGUMENT .................................................................................................................................11
I. The …