Bybit suffered a massive hack that resulted in the theft of $1.5 billion, mostly in Ethereum, prompting calls for a rollback on the Ethereum network to recover the funds.
Arthur Hayes, the former CEO of BitMEX, suggested revisiting the idea after a similar rollback was implemented in 2016 following the DAO hack.
Samson Mu, CEO of JAN3, agreed, noting that the move could prevent the stolen funds from being used to fund North Korea’s nuclear weapons program.
But rolling back transactions is a complex and controversial process, as it would undo all other transactions on the network, threatening the stability of the blockchain.
The Ethereum community has expressed concerns about implementing the idea today given the complexity of the network compared to 2016.
So far, Vitalik Buterin and other senior Ethereum officials have not commented officially on the proposal.
