#BybitSecurityBreach Ethereum rollback deemed 'technically intractable' amid Bybit hack pressure.
Despite growing calls from the crypto industry to roll back the Ethereum network to its pre-Feb. 21 state, before the Lazarus Group’s $1.5 billion hack on crypto exchange Bybit, Ethereum core developer Tim Beiko warns against the idea. He says such a move would be complex and carry significant consequences.
“It’s worth breaking down why this reasonably sounding proposal is technically intractable for less knowledgeable observers,” Beiko said in a Feb. 22 X
The Bybit hack isn't like TheDAO in 2016
The Bybit hack on Feb. 21 happened after a transfer from the exchange’s multisig wallet to a warm wallet, which looked legitimate but had malicious code that altered the smart contract logic to steal funds.
“A compromised interface made it appear as though a transaction was doing one thing while it was actually doing another,” Beiko said.
Beiko said the transaction looked like any other and didn’t break any protocol rules that would allow a fix to recover the hacked funds. He added that unlike the 2016 exploit of TheDAO — which often causes confusion about rollbacks — there’s no clear way to reverse this case without broader implications.
