According to Cointelegraph, although the crypto industry is calling for the Ethereum network to be rolled back to its state before February 21, Ethereum core developer Tim Beiko warned that such a move is complex and has serious consequences.
Beiko stated that the Bybit hacking incident is different from the 2016 TheDAO vulnerability, as transactions appeared normal and did not violate protocol rules, making it impossible to recover the stolen funds through fixes. The rollback could lead to severe chain reactions.
Yuga Labs Vice President of Blockchain 0xQuit stated that the rollback impact will far exceed $1.5 billion, and thousands of people may lose or gain funds that they should not have received. Ethereum has now become the core of decentralized finance and cannot be simply rolled back.
Although some executives in the cryptocurrency industry support a rollback, Bybit CEO Ben Zhou stated that it should be decided by community vote.
