Ethereum $2,732.88 The ecosystem was shaken by one of the biggest cyber attacks of the last period. Bybit Stock Exchange lost 1.4 billion dollars of ETH as a result of the hackers attack. Arthur Hayes, the founding partner of Bitmex, suggested that Ethereum be taken back to compensate for this loss. However, this demand caused great controversy in terms of the principle of decentralization. The Ethereum community argues that such an intervention can damage the basic values of the network.
Discussions to Return the Ethereum Network
Arthur Hayes demanded that Ethereum be taken back and reminded Hard Fork, which was applied after the DAO attack in 2016. As a result of the attack at that time, the fact that Ethereum went to a division caused controversy. Hayes said that a similar process could be repeated.
Ethereum’s founding partner, Vitalik Buderin, was a matter of curiosity. Blockchain experts, although the method of recovery is technically applicable, Ethereum will harm the claim of decentralization, he says. Some experts say that the network is much more complex today, so such an intervention will carry technical and economic risks.
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Hack incident and its impact on markets
Bybit CEO Ben Zhou announced that the company’s financial structure was not affected after the hack attack. Zhou said that hackers stole a large amount of ETH by seizing a certain cold wallet. He said there was no problem in the liquidity of the platform.
Experts emphasize that large -scale attacks can damage confidence in the Blockchain ecosystem. The decentralization advocates think that the chain back will damage Ethereum’s reliability. In the past, similar initiatives are known to have caused great controversy.
The future of the Ethereum network began to be questioned more after this incident. Hayes’ demand deepens discomfort between ETH owners and developers. While the discussions continue, it is eagerly awaited how Ethereum will make a decision.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and perform their operations in line with their own research.
