{"id":828836,"date":"2025-02-22T08:11:46","date_gmt":"2025-02-22T14:11:46","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/22\/arthur-hayes-calls-for-ethereum-rollback-after-1-4b-bybit-hack-is-eths-reputation-at-risk\/"},"modified":"2025-02-22T08:11:46","modified_gmt":"2025-02-22T14:11:46","slug":"arthur-hayes-calls-for-ethereum-rollback-after-1-4b-bybit-hack-is-eths-reputation-at-risk","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/22\/arthur-hayes-calls-for-ethereum-rollback-after-1-4b-bybit-hack-is-eths-reputation-at-risk\/","title":{"rendered":"Arthur Hayes Calls for Ethereum Rollback After $1.4B Bybit Hack \u2013 Is ETH\u2019s Reputation at Risk?"},"content":{"rendered":"
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\"Arthur<\/figure>\n<\/div>\n
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The recent $1.4 billion Bybit hack<\/a> has sent shockwaves through the crypto world. Hackers managed to breach Bybit\u2019s ETH cold wallet, swiftly moving the stolen funds to a single address before scattering them across multiple wallets. The sheer scale of the attack has left many wondering \u2013 can anything be done to recover the lost funds?<\/p>\n

Arthur Hayes<\/a>, the BitMEX co-founder, has proposed a bold and controversial idea: rolling back the Ethereum network to undo the damage. But is such a drastic move even possible? And what would it mean for Ethereum\u2019s future?<\/p>\n

Addressing Ethereum co-founder vitalik buterin<\/a> \"information\"<\/span><\/span><\/p>\n

<\/a><\/span> vitalik buterin<\/span> <\/span> Vitalik Buterin is a professional programmer and Co-Founder of Ethereum. Buterin, along with Gavin Wood, Charles Hoskinson, Joseph Lubin, and Anthony Di, launched Ethereum in 2014. He co-created Ethereum when he understood that he could construct a new, possibly enhanced version by iterating on the Bitcoin blockchain. He has been involved in the Bitcoin community since 2011, writing and co-founding articles for Bitcoin magazine.
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\nDetails:
\nOrganization: EthereumLocation: CanadaEducation: Vitalik graduated from the University of Waterloo (2012\u20132014)Skills: Computer programming and writing
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\nAwards:
\nHonored with the Thiel Fellowship Award in 2014.Won the World Technology Network prize.Fortune’s 40 under 40 list and appeared on the Under 30 list of Forbes at the age of 23
\nExperience:
\nHe has been the founder of Ethereum from November 2013 to the present.Buterin has contributed as a developer to other open-source software projects. He also contributed to DarkWallet.Buterin has been involved in various initiatives to improve blockchain technology and its applications.
\nFAQ
\n1. Who is Vitalik Buterin?One of the most well-known figures in the cryptocurrency space is Vitalik Buterin, who co-founded Ethereum, one of the biggest and most significant blockchain systems.2. What is the net worth of Vitalik?Vitalik’s net worth is 32 billion dollars, according to Forbes.
\n3. What does Vitalik Buterin invest in?Vitalik Buterin has made numerous investments in companies like Varro Life Sciences, Polymarket, and RISE (Singapore) within the healthcare technology systems, information services (B2C), and financial software industries.<\/span> [email\u00a0protected]<\/a><\/span> Entrepreneur<\/span><\/span>Crypto and Blockchain Expert<\/span><\/span> <\/span> <\/span> <\/span> on X (formerly Twitter), Hayes pointed out that Ethereum performed a rollback in 2016 after the DAO hack. That event led to a hard fork, splitting Ethereum into Ethereum (ETH) and Ethereum Classic<\/a> (ETC) to recover $60 million in stolen funds.<\/p>\n

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\u201cI would support it because we already voted no on immutability in 2016\u2014why not do it again?\u201d<\/em><\/p>\n<\/blockquote>\n

Hayes\u2019 suggestion has sparked intense debate. Some believe a rollback could stop hackers from profiting, while others argue that Ethereum is now too complex for such a move.<\/p>\n

Gautham Santhosh, co-founder of Polynomial.fi<\/a>, warned that a rollback could break key parts of the Ethereum network, including stablecoins, Layer-2 solutions, and DeFi projects, making it unrealistic.<\/p>\n

Meanwhile, investment firm Sina 21st Capital highlighted Ethereum\u2019s dilemma: if it rolls back, it risks losing its reputation for decentralization. But if it doesn\u2019t, hackers\u2014possibly linked to North Korea\u2014keep the stolen funds. Either way, Ethereum\u2019s credibility is on the line.<\/p>\n

Ethereum Price Under Pressure<\/h2>\n

The Bybit hack and the rollback debate have shaken the market. Ethereum\u2019s price has fallen about 3.7% in the past 24 hours but remains within the $2,600 to $2,800 range.<\/p>\n

Currently, ETH is facing resistance at $2,600, a key level that aligns with the 200-day moving average and the lower boundary of a descending wedge. If Ethereum fails to break above this level, it could drop further toward $2,500.<\/p>\n

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Never Miss a Beat in the Crypto World!<\/h5>\n

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.<\/p>\n<\/div>\n<\/div>\n

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We’d Love to Hear Your Thoughts on This Article!<\/h2>\n
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\n Mustafa Mulla<\/p>\n","protected":false},"excerpt":{"rendered":"

The recent $1.4 billion Bybit hack has sent shockwaves through the crypto world. Hackers managed to breach Bybit\u2019s ETH cold wallet, swiftly moving the stolen funds to a single address before scattering them across multiple wallets. The sheer scale of the attack has left many wondering \u2013 can anything be done to recover the lost<\/p>\n","protected":false},"author":1,"featured_media":828837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24708,23736],"tags":[],"class_list":{"0":"post-828836","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-arthur","8":"category-hayes"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=828836"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828836\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/828837"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=828836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=828836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=828836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}