Bitcoin Community Rejects Proposal to Recover Stolen $5 Billion BTC
- Former Mt. Gox CEO Mark Karpelès proposed altering Bitcoin Core’s code to recover BTC stolen in a hack in 2011.
- The initiative aimed to retrieve 79,956 BTC, valued at over $5 billion.
- The proposal suggested changing fewer than 60 lines of code and creating exceptions for fund recovery.
- Both the community and Mt. Gox creditors opposed the plan, citing potential risks to network integrity.
- Critics expressed concerns that such changes could set a dangerous precedent for future interventions.
Karpelès’ proposal was rejected within 17 hours, as many feared it could undermine the fundamental principles of Bitcoin ownership and lead to network splits or hard forks.
Ultimately, the rejection means that approximately 79,956 BTC remains inaccessible while prioritizing Bitcoin’s core ethos over monetary compensation.(Source)
