Ethereum Developers Reject Rollback After Bybit’s $1.5B Hack (Glad they reject)

Ethereum core developer Tim Beiko has dismissed calls for a rollback following Bybit’s $1.5 billion hack, citing severe consequences for the ecosystem.

Rollback Deemed Impossible

Beiko explained on X that reversing the blockchain to recover stolen funds is technically infeasible. Despite support from industry figures like Arthur Hayes and Samson Mow, Beiko stressed that Ethereum’s infrastructure has evolved since TheDAO hack in 2016, making intervention impossible without disrupting the network.

Ripple Effects of a Rollback

A rollback would:

• Invalidate legitimate transactions, impacting thousands of users.

• Destabilize DeFi and financial applications.

• Undermine Ethereum’s credibility as an immutable blockchain.

Ethereum educator Anthony Sassano reinforced this, stating, “That’s not how any of this works.” Yuga Labs VP 0xQuit warned that reversing transactions would cause greater financial harm than the hack itself. Even Bybit CEO Ben Zhou hesitated, suggesting a community vote but acknowledging the challenges.

Ethereum’s Immutability Prevails

Beiko concluded that rollbacks, once feasible in Bitcoin’s early days, are no longer viable due to Ethereum’s complexity. Instead, the industry must prioritize security enhancements and user awareness to prevent future exploits.