does his vow includes redemption for the wallets that got liquidated?
koinmilyoner
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Bullish
Bybit CEO Vows to Recover Stolen Funds, Talks About Ethereum Blockchain Rollout Possibility
Ben Zhou, the bitbit CEO, has promised to follow all feasible paths to get the money pilfers taken during the most recent breach connected to the Lazarus Group back tracked.
Speaking at a Feb. 22 X Spaces conference, Zhou described the exchange's approach—which consists of a reward program, law enforcement collaboration, and Ethereum Foundation meetings to investigate possible remedies.
Zhou Talks on Ethereum Blockchain Rollout Possibility Zhou discussed the potential to undo the impact of the Feb. 21 attack by rolling back the Ethereum blockchain.
Emphasizing the need of community opinion in any possible reversal decision, Zhou added, "I'm not sure if it's one man's decision."
Following the DAO attack in 2016, the Ethereum network was in a similar state that resulted in a hard fork and the ultimate founding of Ethereum Classic.
Ethereum core developer Tim Beiko has advised against requests from the crypto community to undo the Ethereum network to its pre-Feb. 21 condition, nevertheless.
Beiko clarified in a Feb. 22 X post that while some might find the plan sensible, technically complicated and may have major effects.
Following a transfer from the multisig wallet of the exchange to a warm wallet, which looked legal but had harmful code changing the smart contract logic to steal money, the bybit hack took place.
Beiko pointed out that the hacked interface gave the impression of a legitimate transaction, which led several members of the crypto community to support a reversal in order to retrieve the pilfers.
Beiko underlined that the circumstances varies from the 2016 DAO attack, which resulted in an Ethereum hard split.
In this scenario, the transaction seemed normal and complied with protocol guidelines; so, there is no easy way to undo it without more general network consequences.
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