A Manhattan federal judge has allowed Arbitrum DAO to move $71 million in frozen Ether to Aave, clearing the path for the DeFi protocol’s recovery effort following a North Korea-linked exploit.

Judge Margaret Garnett of the Southern District of New York issued the order on Friday, modifying a restraining notice that had locked the assets inside Arbitrum DAO. The modification permits an onchain governance vote to send the funds to a wallet controlled by Aave LLC, and explicitly protects anyone who participates in the transfer from being held in violation of the freeze.

The order still keeps the terrorism victims’ legal claim on the funds, meaning Aave can’t use the funds freely and could be forced to hand them over if the court ultimately rules in the terrorism victims’ favor.

Judge allows Arbitrum to move funds to Aave. Source: Courtlistener

The decision came after Arbitrum delegates showed strong support for the move through an off-chain Snapshot vote as part of Aave’s broader recovery plan following last month’s North Korea-linked rsETH exploit. Any actual transfer still requires a separate binding onchain governance vote.

Related: Arbitrum vote to release $71M in frozen Kelp exploit ETH set to pass

Aave asks court to lift freeze on funds

Last week, Aave filed an emergency motion in a New York court seeking to vacate a restraining notice that had blocked Arbitrum DAO from transferring the funds to victims of the Kelp DAO exploit. The notice was served by Gerstein Harrow LLP, which represents families holding $877 million in unpaid terrorism judgments against North Korea and claims the funds belong to its clients because North Korean hackers stole them during the April 18 hack.

Aave pushed back hard, arguing that a thief doesn’t gain lawful ownership of stolen property and that attributing the hack to North Korea relies on little more than internet speculation. It also warned that if the court upholds the restraining notice, it could deter future DeFi recovery efforts and give bad actors a roadmap to exploit legal uncertainty following hacks.

Gerstein Harrow has previously pursued similar claims. In January, they sued Railgun DAO, alleging the privacy protocol was used to launder proceeds from prior North Korean hacks, including the $1.5 billion Bybit exploit.

Related: Aave deposits fall by $15B as Kelp exploit sparks flight from DeFi lender

Kelp exploit leaves $174 million hole in rsETH backing

The Kelp DAO exploit left rsETH’s backing with a significant shortfall. The hack caused 116,500 rsETH to be released on Ethereum without a corresponding burn on the source side, leaving only 40,373 rsETH in the adapter contract against confirmed backing for 152,577, a gap of roughly 76,127 rsETH, worth around $174.5 million at current prices.

The 30,765 ETH frozen by Arbitrum has been flagged as a meaningful step toward closing that gap, with proponents arguing that even partial restoration of rsETH’s backing would help stabilize conditions for users across Arbitrum and the wider DeFi ecosystem.

Magazine: 53 DeFi projects infiltrated, 50M NEO tokens could be ‘given back’: Asia Express

The betting industry is shifting away from traditional account-based systems toward wallet-connected, non-custodial experiences. In 2026, players increasingly want instant access, true ownership of funds, and frictionless onboarding. Long sign-up forms, slow withdrawals, and identity checks feel outdated in a world where blockchain networks settle transactions in seconds.

Dexsport is one of the platforms at the center of this transition. With its wallet-first approach, players can place bets instantly—no accounts, no KYC, and no waiting. This guide breaks down how Dexsport’s wallet betting works, why it’s safer and faster than traditional models, and how new users can unlock bonuses without creating a profile.

What Is Wallet Betting?

Wallet betting means you use your crypto wallet—such as MetaMask, Trust Wallet, OKX Wallet, or Phantom—to access the sportsbook directly.
There is no stored balance, no username, and no centralized custody.

It works differently from traditional betting in three major ways:

1. No Accounts

Your wallet is your account. You don’t create passwords or fill out forms.

2. No Custody

Funds stay in your wallet until the moment you place a bet. Dexsport never holds player balances.

3. No Delays

Deposits and withdrawals clear almost instantly thanks to multi-chain connectivity.

To clarify the difference further:

Wallet betting is fundamentally a Web3-native model that favors speed, privacy, and user control.

How Dexsport’s No-Account Betting Works

Dexsport gives three ways to access the sportsbook:

Wallet Login

Connect using:

• MetaMask

• Trust Wallet

• Phantom

• Coinbase Wallet

• OKX Wallet

• Any WalletConnect-compatible wallet

No data is shared beyond the public address.

Telegram Login

Instant sign-in with your Telegram ID—extremely fast for mobile users.

Email Login

A lightweight alternative for beginners who aren’t ready to use a Web3 wallet yet.

Regardless of the method, Dexsport does not collect personal details. Your betting history and transactions are stored on-chain where applicable, not on a centralized server.

Step-by-Step Guide: How to Bet With Dexsport Wallet

1. Choose Your Preferred Network

Dexsport supports 20+ networks including:

• Ethereum

• BNB Chain

• Tron

• Polygon

• Arbitrum

• Solana

• Avalanche

Users often select the chain based on fees and speed.

2. Connect Your Wallet

Click “Connect Wallet”
→ Select your wallet provider
→ Confirm connection in one tap.

You are now inside the sportsbook instantly.

3. Select a Sport or Casino Category

Dexsport offers:

• live sports

• pre-match markets

• esports

• 10,000+ casino games

• crash games

• high-volatility slots

Navigation is fast and similar to centralized platforms—only without accounts.

4. Place a Bet

Pick the match, odds, and amount.
Sign the transaction in your wallet.

Because Dexsport is non-custodial, the bet executes immediately.

5. Track Your Bet On-Chain

Every bet is logged on a public blockchain.
This ensures:

• provable fairness

• transparent settlements

• no manipulation

You can verify each result independently.

Why Non-Custodial Betting Is Safer

Custodial platforms hold your money until you withdraw it. That means:

• frozen accounts

• long verification cycle

• limited withdrawal access

• balance lockups during investigations

A non-custodial model avoids these risks completely.

Dexsport’s wallet-based design provides:

• complete ownership of your funds

• no operator custody

• no risk of losing access to your balance

• no personal data exposure

If a platform never holds your funds, it also cannot restrict them.

No Delays — Instant Deposits & Withdrawals

One of the defining advantages of wallet betting is transaction speed. Dexsport leverages the fastest available networks—like Tron, Polygon, Solana, and BNB Chain—to ensure rapid transfers.

Why Dexsport transactions are nearly instant:

• no manual reviews

• no compliance queues

• no internal payment approvals

• no withdrawal screening

Players receive funds in seconds, even during peak activity.

Bonuses for Wallet Users — How to Claim

Dexsport rewards all users equally—wallet bettors included.

Welcome Bonus: 480% + 300 Free Spins

The bonus is split across the first three deposits and requires no profile creation.

Sports Bettors Get Additional Perks

• free bets tied to deposits

• boosted odds promotions

• cashback on losing slips

Weekly Cashback

Active players receive up to 15% weekly cashback in stablecoins.

Bonus Claiming Process

1. Make a deposit with your wallet

2. Bonus is applied automatically

3. No form submission or verification needed

It’s one of the few platforms where bonuses do not require an account.

Tips for Fast and Efficient Wallet Betting

To improve your experience, consider the following:

1. Choose Low-Fee Networks

Tron, Arbitrum, Polygon, and BNB Chain offer the cheapest and fastest transactions.

2. Use Stablecoins for Live Betting

USDT, USDC, and BUSD minimize volatility during fast in-play markets.

3. Keep Multiple Networks Enabled

Network congestion occasionally occurs—switch chains for best speed.

4. Enable One-Click Signing

This reduces confirmation time during rapid live betting.

Pros & Cons of Wallet Betting on Dexsport

Pros

• No accounts or passwords

• No KYC or verification delays

• Instant payouts across 20+ chains

• Full fund ownership

• On-chain transparency

• Easy access to bonuses

• Smooth mobile experience

Cons

• Beginners may need time to understand wallet mechanics

• No traditional customer verification option

• Requires basic knowledge of blockchain networks

Conclusion

Wallet-based betting is no longer an experimental feature—it has become a defining pillar of modern Web3 crypto betting platforms. Dexsport shows how effortlessly this model can outperform traditional sportsbooks: instant access without accounts, full fund ownership, zero custody risk, and withdrawals that clear in seconds.

Players receive a level of privacy, transparency, and control that centralized platforms simply cannot offer. For crypto-native bettors, Dexsport’s wallet-first design feels intuitive and empowering; for newcomers, it delivers a cleaner, faster, and safer way to bet online.

As Web3 crypto betting platforms continue to evolve, Dexsport stands out as one of the pioneers leading this shift toward a more open, efficient, and user-controlled betting experience.

An ether ETH$2,039.72 bull was caught leaning hard into the upside this week as the cryptocurrency tanked, turning the whale bet into a multi-million dollar horror story.

That bull is Trend Research, a trading firm headed by Liquid Capital founder Jack Yi. The firm spent recent months building a bullish (long) bet worth $2 billion on ether by borrowing stablecoins from DeFi giant Aave, which were reportedly collateralized by ether.

The position blew up this week, leaving the firm with a $686 million loss, according to Arkham.

The blow up underscores the crypto market's unchanged reality: Volatility can still make or break traders in a single week. It also shows how traders keep chasing risky leveraged loop plays – borrowing stablecoins against ETH collateral – despite these bets exploding spectacularly every downtrend.

How it went down

The team was convinced of ether's long-term potential and expected a quick rebound from its October drop below $4,000.

But that never materialized – ether kept sliding, endangering their "looped ether" long position. As prices fell, the stablecoin collateral backing the leveraged bet shrank, while the fixed debt loomed large in classic leveraged fashion.

The final blow came this month as ether started falling rapidly with bitcoin BTC$68,920.33 and on Feb. 4 prices tanked to $1,750, the weakest level since April 2025. Trend Research responded by liquidating over 300,000 ether, according to data source Bubble Maps.

"Trend Research started sending large amounts of ETH to Binance to repay debt on AAVE In total, this cluster moved 332k ETH worth $700M to Binance over 5 days," Bubble Maps said on X. The firm now holds just 1.463 ETH.

Jack Yi described these sales as a risk-control measure.

"As multi-heads in this round, we remain optimistic about the performance of the new bull market: ETH reaching over $10,000, BTC exceeding $200,000 USD. We're just making some adjustments to control risk, with no change in our expectations for the future mega bull market," Yi said in a post on X.

He added that now is the best time to buy tokens, calling volatility as the biggest feature of the crypto circle. "Historically, countless bulls have been shaken off by this volatility, but often what follows is a doubled rebound," he noted.