Tim Beiko: Ethereum Blockchain Rollback Impossible After Hack

user avatar

by Giorgi Kostiuk

2 years ago

Following a $1.4 billion hack, Tim Beiko emphasized that the Ethereum blockchain cannot be rolled back. No issues with the protocol were found.

Statement from Ethereum's Lead Developer

One of Ethereum's lead developers, Tim Beiko, stated that rolling back the blockchain is not possible following public outcry over the recent hack. Beiko noted that from the protocol's perspective, this incident is indistinguishable from other legitimate transactions.

Lessons from the DAO Hard Fork

The Ethereum blockchain previously experienced a hard fork after the DAO hack in 2016, where approximately $60 million worth of ETH was stolen, leading to the creation of a new version of the network. But in the recent hack, as the funds were immediately moved, this was not possible. 'Hacked funds from TheDAO were effectively frozen for a month, giving time for the community to coordinate on a software upgrade,' Beiko recalled.

Hacked funds from TheDAO were effectively frozen for a month, giving time for the community to coordinate on a software upgrade.Tim Beiko

Recovery after the Bybit Hack

In the wake of the hack on the Bybit exchange, which resulted in a loss of 401,000 ETH, the price of Ethereum initially dropped but quickly regained its position, surpassing the $2,800 mark.

The incident highlights the complexities of today's Ethereum ecosystem and the difficulty in reversing network changes after significant hacks.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Binance Announces Phased Withdrawal Restart

Binance has announced a phased approach to restarting withdrawals, having replenished 95% of affected assets.

user avatarJacob Williams

Bitcoin Price Recovery Approaches $78,000

Bitcoin's price recovery has brought it closer to the $78,000 mark after a week of volatility.

user avatarSon Min-ho

LIT Token Surges Amidst Mixed Performance in Altcoins

Lighters LIT token experienced a significant surge of approximately 18% to $3.19 on November 1, 2026, amidst mixed performance in major cryptocurrencies.

user avatarZainab Kamara

Circle Releases Technical Guidance for ERC20 Transfers Using CCTP

Circle has published a developer guide detailing how issuers can utilize its CrossChain Transfer Protocol (CCTP) for ERC20 assets beyond USDC.

user avatarAyman Ben Youssef

Curve Finance Launches StableSwap on Stellar Mainnet

Curve Finance has launched its StableSwap system on the Stellar mainnet, marking its first native deployment outside the Ethereum ecosystem.

user avatarTando Nkube

Ondo Finance Introduces Tokenized Investment Portfolios on Solana

Ondo Finance has launched seven investment portfolio tokens on the Solana blockchain for eligible investors outside the US, providing managed exposure to tokenized equities and ETFs.

user avatarKofi Adjeman

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.