Bitmex founder Arthur Hayes’ten Bybit Hack in the event of a very radical suggestion came! If it is accepted, it will be confused!

Bitmex’s founding partner and leading Ethereum (ETH) Arthur Hayes, one of the investors, led to discussions by suggesting that the Ethereum network be returned to the old state to alleviate the impact of the $ 1.4 billion attack on the crypto currency exchange Bybit.

Hayes called on Ethereum’s founding partner Vitalik Buderin directly to Vitalik Buderin via X (formerly called Twitter).

Hayes said in his sharing on X:

Mıs Are you going to advocate the fact that Vitalik Botter is brought to the old state of the chain to help Bybit? As a Mega Et owner, my opinion is that ETH was no longer money after DAO Hack Hard fork in 2016. If the community wants to do this again, I would support it because we have already voted for unchanging in 2016, why not do it again? ”

The Bybit attack appeared on Friday when Blockchain analyst Zachxbt noticed the suspicious money outputs exceeding $ 1.4 billion in ETH. Before distributing the funds he stole to multiple addresses, the attacker quickly turned Meth and Steth into ETH through an unforgettable stock market. According to Gautham Santhosh, the founding partner of Polynomial.Fi, the attacker transferred 10,000 ETH to 39 different addresses and 10,000 ETH to nine addresses.

The return of a block chain to the old state involves the return of the network to a previous situation to delete the operations related to an attack. Although this approach has the potential to restore the funds lost by Bybit, the Ethereum network will require a large compromise of the participants.

In 2016, Ethereum had experienced a similar return after the famous Dao Hack, which was stolen by 60 million dollars of ETH, which represented 30 %of the total ETH supply. This resulted in a controversial hard fork, which divides Ethereum into two as Ethereum (ETH) and Ethereum Classic (ETC).

In 2019, Binance CEO Changpeng Zhao thought of defending the return of the Bitcoin network to its old state after a hack of 40 million dollars. However, this idea was greatly rejected by the Bitcoin mining community, who argues that such an action would endanger the principles of decentralization and invariance.

*It is not an investment advice.