Ethereum developers have rejected the proposal to roll back the blockchain following the $1.5B Bybit hack due to potential technical and operational complications.
Rollback Proposal and Its Consequences
The suggestion to return the cryptocurrency stolen during the Bybit hack was proposed by several industry figures. However, Tim Beiko, defending blockchain immutability, noted that rolling back to a pre-hack state would cause significant technical challenges and ignite debate over blockchain immutability.
Experts' Concerns Over Disruption
The Ethereum blockchain has significantly expanded in recent years, supporting various decentralized protocols and cross-chain bridges. Any changes in transaction history could destabilize interconnected systems and cause accidental losses when recalculating transactions. Anthony Sassano noted that the blockchain's mechanics are now quite different from the time of the DAO incident.
Community Against Rollback
Despite the risks, some influential market participants like Jan3 CEO Samson Mow and BitMEX co-founder Arthur Hayes supported the possibility of a rollback to prevent North Korean groups from accessing stolen funds. However, Bybit CEO Ben Zhou emphasized the importance of community opinion, proposing a vote reflecting the decentralized concept of blockchain.
The discussion highlights the importance of the principles of Ethereum's blockchain immutability when resolving real-world critical situations. Technical challenges remain the main obstacle to a rollback, despite public disputes.
