Ethereum Rollback Proposed After Bybit Hack

Arthur Hayes Proposes Ethereum Rollback After $1.4B Bybit Hack

• BitMEX co-founder Arthur Hayes suggested rolling back the Ethereum network to recover $1.4 billion in ETH stolen from Bybit.
• The hack involved suspicious outflows identified by analyst ZachXBT, with attackers swapping mETH and stETH for ether.
• The attacker split 10,000 ETH into multiple addresses, as explained by Gautham Santhosh of Polynomial.fi.
• Bybit CEO Ben Zhou confirmed that the exchange remains solvent despite the loss.
• A rollback would require consensus from network participants and could disrupt Ethereum’s interconnected ecosystem.

Arthur Hayes proposed a rollback of the Ethereum blockchain to reverse a $1.4 billion hack affecting Bybit, highlighting concerns over decentralization and network stability.