Ethereum Community Rejects Proposal to Roll Back Network After Bybit Hack
Bybit allegedly suffered a hack attributed to North Korea's Lazarus group, resulting in the theft of nearly $1.4 billion in ether (ETH).
Key points from the incident include:
- Arthur Hayes, BitMEX co-founder, questioned Ethereum’s Vitalik Buterin about potentially rolling back the blockchain.
- Bybit's CEO Ben Zhou indicated discussions with the Ethereum Foundation regarding community sentiment on this issue.
- Ethereum community members opposed the rollback idea, emphasizing the importance of decentralization.
- The discussion drew comparisons to the 2016 DAO hack, which led to a hard fork but was not a rollback.
- The previous hard fork allowed for an “irregular state transition,” enabling recovery of stolen funds through a refund contract.
The community remains firmly against any rollback, asserting it would undermine Ethereum's core principles.