In response to the February 21 hack of the Bybit exchange and the loss of $1.50 billion, Ethereum core developer Tim Beiko said that although some in the crypto industry have called for restoring the Ethereum network to its pre-attack state, it is almost impossible from a technical perspective.
Beiko stressed that unlike the TheDAO hack in 2016, this attack did not violate the rules of the Ethereum protocol, and that a rollback would lead to widespread and difficult-to-repair chain reactions that could have even more damaging consequences than the hack's losses. In addition, a rollback would undo all settled on-chain transactions, but not reverse off-chain transactions.
Other industry players have expressed similar views. Ethereum educator Anthony Sassano pointed out that the complexity of the current Ethereum ecosystem makes a simple rollback of the infrastructure unfeasible. Yuga Labs' vice president of blockchain warned that the cost of rollback could far exceed $1.50 billion.
Earlier, when asked if he supported rolling back Ethereum to its pre-hack state, Bybit CEO Ben Zhou said: "It's not something one person can decide. Based on the spirit of blockchain, maybe it should be decided through community voting, but I'm not sure."
Ethereum core developers: transaction rollbacks are nearly impossible to achieve, or cause a chain reaction that is difficult to fix
2025-02-23 03:48:18
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