Bybit’s Lazarus Security Lab has released a report showing that major blockchains include code that allows them to freeze or restrict user funds. In the report titled “Blockchain Freezing Exposed: Examine The Impact of Fund Freezing Ability in Blockchain,” this approach was highlighted as a strategy that can protect users and mitigate damage in large-scale security breaches.
On the other hand, Bybit says it is against the decentralization principle of blockchain.
Code-Freezing Function Defies Blockchain Decentralization Principle
According to a recent report from Bybit’s Lazarus Security Lab, around 16 major blockchains have codes that allow them to freeze or restrict user funds. It was tagged the first large-scale analysis showing how blockchains can quickly act in user transactions to contain security incidents such as hacks and exploits.
While this may seem like a good idea, Bybit does not appreciate its defiance of decentralization, which is at the core of bloc
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