In a shocking turn of events, Bitcoin advocate and crypto influencer Samson Mow has reignited the debate surrounding blockchain security, taking a hard stance against Ethereum after hackers made off with a colossal $1.4 billion worth of ETH and stETH from the crypto exchange Bybit. The perpetrators, believed to be linked to North Korea, have set the crypto community on edge, prompting Mow to demand a radical action: a blockchain rollback.
Using his platform on X, formerly Twitter, Mow boldly advocated for Ethereum to execute a chain rollback to mitigate the recent crisis. Citing the necessity to prevent the funds from fueling North Korea’s controversial nuclear arsenal, he emphasized, “We cannot allow ETH to finance the North Korean nuclear program. It’s not about what I want. It’s about what is best for the entire Ethereum ecosystem which I care deeply about.”
Blockchain rollbacks, reminiscent of the 2016 Ethereum DAO hack incident, involve reversing transactions to return the network to a prior state. Such actions are typically reserved for severe breaches and can lead to hard forks—a path Mow is comfortable endorsing again. Adding a touch of humor, he suggested rebranding the current blockchain as “ETHNK,” leaving “ETH” to represent the envisaged roll-backed chain. He proposed this tongue-in-cheek, encouraging the community to consider a halt in ETH trading until the issue is resolved.
This contentious proposal echoes the internal schisms within the crypto world regarding decentralization and immutability. Mow’s comments have reignited discussions, with many weighing the pros and cons of such drastic measures. Ethereum, trading at $2,770 at press time, faces significant scrutiny, with potential ramifications for its community and its claim as the leading smart contract platform.
As the community deliberates these proposals, Mow remains steadfast in his belief that a rollback is essential for Ethereum’s integrity and to thwart geopolitical military strategies potentially funded by cyber theft. The outcome of this debate not only impacts Ethereum’s future but sets a precedent for how blockchain networks might address similar crises moving forward.
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