Bitcoin advocate Samson Mow suggests that Ethereum should consider a hard fork following the theft of $1.4 billion in ETH and stETH by North Korean hackers through exploiting the Bybit crypto exchange.
In a recent discussion on social media platform X, Bitcoin maximalist Samson Mow expressed his opinion that the primary smart contract platform by transaction volume should reset its blockchain to return the funds to Bybit and prevent the North Korean government from misusing the stolen ETH stash.
Mow voiced his support for a rollback of Ethereum’s chain to address the situation, emphasizing the importance of safeguarding the Ethereum ecosystem from funding illicit activities, such as the North Korean nuclear program.
Rollbacks in blockchain technology involve reversing confirmed transactions to restore a specific earlier state, typically done in response to significant security breaches. In the case of ETH, a rollback would entail a hard fork similar to the one in 2016 after the Ethereum DAO hack.
Mow humorously suggested that the new reset chain should retain the ETH ticker, while proposing renaming the current chain to “ETHNK,” advising investors to exercise caution with ETH trading until the matter is resolved.
Ethereum’s current trading value is $2,770, reflecting a 4% increase in the past day.
