Arthur Hayes, co -founder of Bitmex and head of Mayor Ether (ETH), asked Ethereum co -founder, Vitalik Butein, to reverse the network to help Hacked Exchange bybit, who lost almost $ 1.4 billion in Ethher (ETH) on Friday .
“@Vitalikbuterin, will you advocate to reverse the chain to help @bybit_Official. My own opinion as mega $ eth bag supter is $ eth ceased to be money in 2016 after Dao hack hardfork. If the community wanted to do it again, I I, I, I would support him because we no longer vote on immutability in 2016 [wh]And don’t they do it again? “Hayes said in X.
Buterin had not yet responded to the time of publication.
The Bybit trick came to light on Friday when Chain Zachxbt analyst observed suspicious exits of more than $ 1.4 billion of the exchange, with the attacker quickly exchanging methamphetamine and Steth by Ether through a decentralized exchange.
Then, the attacker divided 10,000 Eth at 39 different directions and another 10,000 directions of 10,000 eth to nine, Gautham Santhosh, co -founder of Polynomial.fi, explained in X.
The Bybit CEO, Ben Zhou, said the hacker “took control of the specific ETH eth ETH wallet and transferred the entire ETH in the cold wallet to this unidentified address.” Zhou confirmed that the exchange “is solvent even if this hack loss does not recover.”
One of the potential ways of addressing piracy is to reverse the block chain. It implies reverse the block chain to a state before the occurrence of a specific event, in this case, the hack. In this way, malicious transactions resulting from hack can be erased, effectively restoring lost or stolen funds. The implementation of a reversal requires a consensus of the network participants.
For example, in 2016, the Ethereum Network turned back using a hard fork to reverse a theft of $ 60 million in DAO ether (30% of all ETH in circulation at that time). The hard fork divided the chain into two: Ethereum and Ethereum Classic.
In 2019, the CEO of Binance, Changpeng Zhao, and his team considered pressing for a reversal in the Bitcoin network after a trick of $ 40 million. However, the Bitcoin mining community criticized the idea of ​​returning to the principle of decentralization and immutability, which are fundamental for blockchain technology.
Immutability is a security feature that prevents the data from changing after the block chain is added to be reliable manipulation test. There are similar concerns regarding a possible ethhereum reinvestment.
“I wish we could go back for Bybit’s trick, I’m not against the idea. But Dao’s hack was 15% eth with a clean recovery route. Today, a reversal would break bridges, stable, L2S, RWAS and So much more.
SINA 21ST Capital explained that Ethereum is now caught between a rock and a hard place.
“Ethereum is roasted. They can reverse the chain and destroy what remains of the statement of decentralization or allow Baad actors of North Korea to maintain $ 1.4b of ETH and unleash an eternal internal battle. In any case, it is terrible” , SINA 21ST Capital said in X.
Ether has fallen almost 3% in 24 hours, but continues to exchange between $ 2,600 and $ 2,800, according to Coindesk data.
