The recent $1.5 billion hack on ByBit has ignited a heated debate within the crypto community. Some, including Arthur Hayes and other industry figures, have suggested rolling back Ethereum to recover the stolen funds. However, as Anton Gloub clearly states:
"I'm totally AGAINST Ethereum 'rollback' to recover $1.5 billion stolen in ByBit hack."
This stance highlights a fundamental truth—such a rollback is not only impractical but would also be catastrophic for Ethereum’s credibility, decentralization, and overall functionality.
Why Rolling Back Ethereum Is Impossible
1. The DAO Hard Fork Was Not a Precedent for This
Back in 2016, Ethereum underwent a hard fork after The DAO hack, but the circumstances were vastly different. As Gloub explains:
Ethereum was much smaller at the time.
The DAO held 15% of all ETH, and funds were frozen for 30 days, allowing coordination.
The rollback only affected one application, not the entire chain.
Fast-forward to today, and Ethereum has evolved into a $350 billion+ ecosystem. The stolen ByBit funds were instantly moved, making a rollback technically unfeasible.
2. Ethereum’s Complexity Makes Reversals Catastrophic
Ethereum is no longer just a blockchain—it is a global settlement layer supporting DeFi, bridges, and Layer 2 solutions. A rollback would:
Invalidate every transaction since the hack.
Destroy liquidity across DeFi protocols.
Break real-world asset (RWA) settlements linked to Ethereum.
Cause innocent users to lose funds overnight.
Simply put, Ethereum is too big and too interconnected to "undo" transactions without causing mass disruption.
3. Rolling Back Would Destroy Ethereum’s Credibility
One of Ethereum’s core principles is decentralization and immutability. If a rollback were to happen, it would:
Show that Ethereum is not censorship-resistant.
Destroy institutional trust.
Make Ethereum no different from traditional financial systems (TradFi), proving it is just as corruptible.
As Gloub warns, "Ethereum rollback for hack of one exchange, entire industry collapses. No one would ever trust it again."
4. The Cost of a Rollback Would Exceed $1.5B
Some argue that reversing transactions would restore the stolen funds, but in reality, the damage would be far greater. A rollback would:
Break bridges, DeFi protocols, and Layer 2 networks.
Invalidate legitimate transactions, leading to mass financial losses.
Permanently damage Ethereum’s reputation.
5. This Debate Proves Ethereum Is Not Bitcoin
Bitcoin maximalists often criticize Ethereum for the 2016 DAO rollback, and some now push for another one to claim Ethereum is centralized. But as Gloub emphasizes:
"This isn't 2016. Ethereum has matured. Ethereum's response must be clear: NO rollback. NO precedent. Code is law."
Ethereum Must Remain Immutable
Ethereum is no longer a small experiment—it is a global financial system. If it allows rollbacks, it loses its integrity. Either Ethereum remains immutable, or it becomes worthless.
Should Ethereum ever roll back?
The answer is clear: Absolutely not.
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