| Cryptocurrency | Price (USDT) |
|---|---|
| BTC | $107444.5900000000 |
| ETH | $2436.9300000000 |
| BNB | $648.2996400000 |
| XRP | $2.1826210000 |
| ADA | $0.5667858000 |
| SOL | $150.3363000000 |
| DOGE | $N/A |
| DOT | $3.4117100000 |
| LTC | $86.3661000000 |
| LINK | $13.3862800000 |
Category: CRYPTO NEWS
The post Ethereum Network Rollback After Bybit Hack: Technical Impossibility and Industry Perspectives appeared on BitcoinEthereumNews.com. In a significant hacking incident on February 21st, Bybit exchange reportedly experienced a breach resulting in a staggering loss of $1.5 billion. In response to this event, Ethereum core developer Tim Beiko addressed the possibility of reverting the Ethereum network to its pre-attack status. He indicated that from a technical standpoint, such a restoration is nearly impossible, particularly since this breach did not contravene Ethereum’s protocol rules like the infamous TheDAO hack of 2016. Implementing a rollback could trigger widespread, complex consequences far exceeding the initial damage incurred by the hackers. Others in the industry echoed Beiko’s sentiments. Notably, Anthony Sassano highlighted that the intricate structure of the Ethereum ecosystem makes any straightforward rollback impracticable. Meanwhile, representatives from Yuga Labs cautioned that the financial implications of such an action could dwarf the estimated losses. Bybit’s CEO, Ben Zhou, remarked that, adhering to the decentralized ethos of blockchain, any decision regarding a rollback would necessitate community consensus, underscoring the collaborative nature of the ecosystem. Source: https://en.coinotag.com/breakingnews/ethereum-network-rollback-after-bybit-hack-technical-impossibility-and-industry-perspectives/
2025-02-23T03:42:43+00:00