Can Ethereum roll back to recover stolen funds? Developers and Bybit CEO respond

Ethereum refuses to roll back transactions: Bybit's $1.5 billion hacking incident analysis

Recently, Bybit's trading platform has been hit by a $1.5 billion hack, triggering heated discussions about whether the Ethereum network should roll back to recover stolen funds.

Ethereum core developers have a firm attitude:

Ethereum core developer Tim Beiko explicitly rejected the possibility of rollback transactions. He pointed out that unlike the 2016 TheDAO incident, this Bybit attack is a situation where hackers use multiple sign-up vulnerabilities to instantly transfer funds, lacking the conditions for rollback. Unlike the smart contract vulnerability in TheDAO incident that caused funds to be frozen, this attack funds were transferred quickly and could not be frozen or fixed. In addition, today's Ethereum ecosystem is huge in scale, including complex structures such as DeFi and cross-chain bridges. Rolling back will cause systemic risks and is almost impossible to achieve.

Historical experience warning:

Beiko also illustrates the huge risks and challenges of rollbacks using early bitcoin vulnerabilities and the 2016 Ethereum TheDAO event as an example. Bitcoin had minted a large number of Bitcoin due to vulnerabilities in the early days, but due to the small network at that time, the founder Satoshi Nakamoto was able to solve the problem by rolling back. The rollback of the Ethereum TheDAO event ultimately led to the birth of Ethereum Classic (ETC). Since then, the Ethereum community has insisted on the immutability of the network and rejected similar proposals.

Bybit official response:

Bybit CEO Ben Zhou admitted the seriousness of the attack, but emphasized that the stolen funds accounted for only 0.3%-0.4% of Ethereum's total supply, far lower than 30% of the TheDAO incident.

Future Outlook:

Bybit is seeking advice from Ethereum founder Vitalik Buterin, but the possibility of rollback is slim.

Summary:

Given the development history of Ethereum and the clear position of the community, the possibility of rolling back transactions to recover stolen funds is extremely low. This move will not only undermine the immutability of the network, but will also cause greater market turmoil and uncertainty. In the future, strengthening safety measures and preventing similar incidents from happening again are the more important directions.

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