Ethereum 'Roll Back' Suggestion Has Sparked Criticism. Here's Why It Won't Happen

Ethereum 'Roll Back' Suggestion Has Sparked Criticism. Here's Why It Won't Happen

Ethereum Community Rejects Calls to "Roll Back" Bybit Hack Losses

The Ethereum community has strongly opposed the idea of rolling back the blockchain to recover the $1.4 billion stolen in the Bybit hack. The debate was sparked after BitMEX co-founder Arthur Hayes posted on X, asking Ethereum co-founder Vitalik Buterin if he would support a rollback to aid Bybit.

Hayes’ suggestion was met with immediate backlash, as Ethereum developers and community members reaffirmed their commitment to decentralization. Core developers pointed out that Ethereum operates on an account-based model, making a rollback technically unfeasible.

Bybit CEO Ben Zhou confirmed that his team had reached out to the Ethereum Foundation to explore the possibility, emphasizing that such a decision would ultimately rest with the broader Ethereum community. However, Ethereum members made it clear that any forced reversal would undermine the blockchain’s fundamental principles.

Some referenced the 2016 DAO hack, where Ethereum implemented an "irregular state transition" rather than a rollback, leading to the network’s hard fork and the creation of Ethereum Classic. However, developers argue that the current situation is fundamentally different.

Ethereum’s resistance to a rollback highlights the blockchain’s commitment to immutability, even in the face of significant financial losses.