In what is considered now the largest hack within the cryptocurrency industry, Bybit’s hot wallet was compromised when trying to complete a legitimate transfer, and roughly $1.5 billion, mostly in ETH, was stolen by being sent to another address.
Aside from the immediate impact on crypto prices, such a notable incident garnered the attention of the community, and now some prominent figures are calling for a rollback of Ethereum’s chain.
Hayes, Mow Say Yes
Arthur Hayes, the former BitMEX CEO who described himself as a “mega ETH bag holder,” suggested the rollback shortly after the attack. He believes ETH stopped being money in 2016 when the Ethereum blockchain went through a hard fork (creating Ethereum Classic) after a $60 million hack against The DAO.
Since it has already been done once, Hayes noted that it could happen again. Chinese-Canadian entrepreneur and CEO of JAN3, Samson Mow, supported Hayes’ stance, indicating that such a rollback will not only return the stolen ET
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