A recent hack on cryptocurrency exchange Bybit, allegedly by North Korea’s Lazarus group, resulted in a loss of nearly $1.4 billion in ether (ETH). In response, Arthur Hayes, co-founder of BitMEX, suggested a rollback of the Ethereum blockchain to recover the funds. However, this proposal was met with strong opposition from the Ethereum community. Ethereum’s core developers and community members argue that such an action would undermine the blockchain’s core principles of decentralization. Ethereum’s history shows a similar event in 2016 when $60 million in ETH was stolen during the DAO hack, leading to a hard fork rather than a rollback. This hard fork created Ethereum Classic, while the new chain continued as Ethereum. The community’s consensus is that rolling back the chain would negate the purpose of Ethereum, as it would allow for arbitrary rule changes.
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