Ethereum Rollback Riddle: Reversing a $1B Heist or Upholding Immutability?

Februar 22, 2025 Defi 0

Ethereum Rollback Riddle: Reversing a $1B Heist or Upholding Immutability?

The post Ethereum Rollback Riddle: Reversing a $1B Heist or Upholding Immutability? appeared first on Coinpedia Fintech News

Ethereum is in the spotlight again, but not for good reasons. Hackers broke into Bybit’s secure storage, known as a cold wallet, and stole over $1 billion worth of Ethereum tokens. More than 401,000 ETH, including staked tokens, were taken. Following the news, Ethereum dropped over 5% to $2,700 in the last 24 hours.

In response to the controversy, Crypto analyst, Justin Bechler argues that Ethereum is facing an impossible dilemma due to the involvement of North Korean hackers in illicit transactions. His claim stems from a growing debate on whether Ethereum should take action to reverse these transactions or allow them to stand. 

A Tough Decision for Ethereum

Recently the X has turned into a war zone where many are trolling the ETH founder while others suggest he should stay out of controversy by taking action against the hackers. Matthew R. Kratter, a well-known analyst, believes Ethereum’s leadership, including Ethereum’s co-founder vitalik buterin

information






should be held responsible if they don’t act. He argues that allowing hackers to keep the stolen ETH makes Ethereum an indirect supporter of global terrorism.

Analyzing the situation, Justin Bechler said that Ethereum is facing an impossible choice. He argues that, if Ethereum rolls back the transactions through a hard fork, it would prove that Ethereum is centralized, contradicting the fundamental blockchain principle of immutability. 

However, if Ethereum does nothing, it risks being linked to terrorism financing, which could lead to severe regulatory consequences.

Should Ethereum Roll Back the Chain?

Some believe Ethereum should step in and reverse the transactions. Arthur Hayes, the co-founder of BitMEX and a big ETH holder, publicly asked Vitalik Buterin to roll back the network and return the stolen funds to Bybit. He points out that Ethereum already did something similar in 2016 after the infamous DAO hack, so why not do it again? But so far, Vitalik hasn’t responded.

However, doing this would confirm claims that Ethereum is centralized, meaning it can be controlled like a regular company rather than an independent blockchain. One of the biggest selling points of crypto is that transactions cannot be changed. If Ethereum breaks this rule, its reputation could take a huge hit.

Bitcoin Maxis Troll Ethereum

Bitcoin supporters, including Samson Mow, are having a field day. They’ve been posting identical tweets pretending that they and Vitalik are “discussing rolling back Ethereum.” Mow jokes that if Ethereum does this, they should create a separate version of Ethereum called ETHNK (short for North Korea Ethereum) that holds the stolen funds. Meanwhile, Binance and other big exchanges are stepping in to help Bybit by sending millions of dollars in ETH to support the exchange.

.article-inside-link {
margin-left: 0 !important;
border: 1px solid #0052CC4D;
border-left: 0;
border-right: 0;
padding: 10px 0;
text-align: left;
}

.entry ul.article-inside-link li {
font-size: 14px;
line-height: 21px;
font-weight: 600;
list-style-type: none;
margin-bottom: 0;
display: inline-block;
}

.entry ul.article-inside-link li:last-child {
display: none;
}

  • Also Read :
  •   Crypto Market Hit Hard as $566 Million Liquidated After $1.4B Bybit Hack
  •   ,

What Happens Next?

If Ethereum does nothing, the stolen funds could be used to finance North Korea’s cyberattacks, making Ethereum a target for global regulators. The U.S. could impose strict sanctions, making it harder for Ethereum to work with banks and businesses. On the other hand, if Ethereum interferes, it risks losing trust in the crypto community.

So the big question isn’t if Ethereum will face problems, but how fast they will come

.article_register_shortcode {
padding: 18px 24px;
border-radius: 8px;
display: flex;
align-items: center;
margin: 6px 0 22px;
border: 1px solid #0052CC4D;
background: linear-gradient(90deg, rgba(255, 255, 255, 0.1) 0%, rgba(0, 82, 204, 0.1) 100%);
}

.article_register_shortcode .media-body h5 {
color: #000000;
font-weight: 600;
font-size: 20px;
line-height: 22px;
}

.article_register_shortcode .media-body h5 span {
color: #0052CC;
}

.article_register_shortcode .media-body p {
font-weight: 400;
font-size: 14px;
line-height: 22px;
color: #171717B2;
margin-top: 4px;
}
.article_register_shortcode .media-body{
padding-right: 14px;
}

.article_register_shortcode .media-button a {
float: right;
}
.article_register_shortcode .primary-button img{
vertical-align: middle;
}

@media (min-width: 581px) and (max-width: 991px) {
.article_register_shortcode .media-body p {
margin-bottom: 0;
}
}

@media (max-width: 580px) {
.article_register_shortcode {
display: block;
padding: 20px;
}

.article_register_shortcode img {
max-width: 50px;
}

.article_register_shortcode .media-body h5 {
font-size: 16px;
}

.article_register_shortcode .media-body {
margin-left: 0px;
}

.article_register_shortcode .media-body p {
font-size: 13px;
line-height: 20px;
margin-top: 6px;
margin-bottom: 14px;
}

.article_register_shortcode .media-button a {
float: unset;
}

.article_register_shortcode .secondary-button {
margin-bottom: 0;
}
}

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

.subscription-options li {
display: none;
}
.research-report-subscribe{
background-color: #0052CC;
padding: 12px 20px;
border-radius: 8px;
color: #fff;
font-weight: 500;
font-size: 14px;
width: 96%;
}
.research-report-subscribe img{
vertical-align: sub;
margin-right: 2px;
}

var templateIds = „6“;
var listOfSubscribed = [];

function subscribed_popupmodal(template_id) {
var templateId = ‚6‘;
getAllSubscriberCategoryList([templateId]);
var subcribemodal = window.parent.document.getElementById(’subscribe-modal-design‘);
if (subcribemodal) {
var modalContent = `

`;
subcribemodal.innerHTML = modalContent;
}
subscribe_unsubscribe_status(template_id);
//getAllSubscriberCategoryList(template_id);
}

function toggleSubscription(subscription, template_id) {
var subscriptionCheckbox = document.getElementById(subscription + ‚_‘ + template_id);
var li = document.getElementById(subscription + ‚Selected_‘ + template_id);
if (subscriptionCheckbox.checked) {
li.classList.add(‚active‘);
} else {
li.classList.remove(‚active‘);
}
}

function getAllSubscriberCategoryList(getcategoryId) {

jQuery.ajax({
url: ‚https://coinpedia.org/wp-admin/admin-ajax.php‘,
type: ‚GET‘,
data: {
action: ’subscribe_api_ajax_request‘,
apiurl: ‚/app/email_newsletter/list‘,
},
success: function(response) {
var result = JSON.parse(response.message);

if (result.status === true) {

var idstosubscribed = []
// Populate listOfSubscribed with subscribed category IDs
result.message.forEach(listofcategory => {

if (listofcategory.subscribe_status === 1) {
if (!listOfSubscribed.includes(listofcategory._id)) {

listOfSubscribed.push(listofcategory._id);
}

if (!idstosubscribed.includes(listofcategory.news_cp_category_row_id)) {
idstosubscribed.push(listofcategory.news_cp_category_row_id);
}
}
});

idstosubscribed.forEach(id => {
var subscribeButton = document.getElementById(’subscribe_‘ + id);
var unsubscribeButton = document.getElementById(‚unsubscribe_‘ + id);

if (subscribeButton && unsubscribeButton) {
subscribeButton.style.display = ’none‘;
unsubscribeButton.style.display = ‚block‘;
var showDownloadReport = document.getElementById(‚download_report‘);

if (showDownloadReport) {
showDownloadReport.style.display = ‚block‘;
}
}
});
}

},
error: function(xhr, status, error) {
console.error(‚Error:‘, error);
}
});
}

function subscribe_unsubscribe_status(getcategoryId) {
var elementTounsubscribe = parent.document.getElementById(‚unsubscribe_‘ + getcategoryId);
var elementTosubscribe = parent.document.getElementById(’subscribe_‘ + getcategoryId);
jQuery.ajax({
url: ‚https://coinpedia.org/wp-admin/admin-ajax.php‘,
type: ‚POST‘,
data: {
action: ’subscribe_api_ajax_request‘,
apiurl: ‚/app/email_newsletter/list?category_row_id=‘ + getcategoryId,
},
success: function(response) {
var result = JSON.parse(response.message);
if (result.status === true) {
parent.jQuery(‚.skeliton-loader-block‘).hide();
var hasSubscribeStatusOne = false;
result.message.forEach(subscribeStatus => {
if (listOfSubscribed.includes(subscribeStatus._id) && subscribeStatus.subscribe_status === 1) {
hasSubscribeStatusOne = true;
}
if (subscribeStatus.notification_type === 3) {
parent.document.getElementById(‚monthlySelected_‘ + getcategoryId).style.display = ‚block‘;
parent.document.getElementById(‚monthly_‘ + getcategoryId).setAttribute(‚data-id‘, subscribeStatus._id);
if (subscribeStatus.subscribe_status === 1) {
parent.document.getElementById(‚monthly_‘ + getcategoryId).checked = true;
}
} else if (subscribeStatus.notification_type === 2) {
parent.document.getElementById(‚weeklySelected_‘ + getcategoryId).style.display = ‚block‘;
parent.document.getElementById(‚weekly_‘ + getcategoryId).setAttribute(‚data-id‘, subscribeStatus._id);
if (subscribeStatus.subscribe_status === 1) {
parent.document.getElementById(‚weekly_‘ + getcategoryId).checked = true;
}
} else if (subscribeStatus.notification_type === 1) {
parent.document.getElementById(‚dailySelected_‘ + getcategoryId).style.display = ‚block‘;
parent.document.getElementById(‚daily_‘ + getcategoryId).setAttribute(‚data-id‘, subscribeStatus._id);
if (subscribeStatus.subscribe_status === 1) {
parent.document.getElementById(‚daily_‘ + getcategoryId).checked = true;
}
}
if (subscribeStatus.subscribe_status === 1) {
listOfSubscribed.push(subscribeStatus._id);
}
});
if (hasSubscribeStatusOne) {
elementTosubscribe.style.display = ’none‘;
elementTounsubscribe.style.display = ‚block‘;
} else {
elementTosubscribe.style.display = ‚block‘;
elementTounsubscribe.style.display = ’none‘;
}
}
},
error: function(xhr, status, error) {
console.error(‚Error:‘, error);
}
});
}

function logSelectedSubscriptions(categoryid) {
var unsubscribemodal = document.querySelector(‚.unsubscribed-popup-modal .modal‘);
var subscribedmodal = document.querySelector(‚.subscribed-popup-modal .modal‘);
unsubscribemodal.innerHTML=“;
subscribedmodal.innerHTML=“;
var selectedSubscriptions = [];
var storeCheckedId = [];
var checkboxes = document.querySelectorAll(‚#subscription-options-‚ + categoryid + ‚ input[type=“checkbox“]‘);
var errorMessage = document.getElementById(‚error-message-select‘);

// Use a Set to handle unique data-ids
var uniqueSubscribedIds = new Set(listOfSubscribed);

checkboxes.forEach(function(checkbox) {
var dataId = parseInt(checkbox.getAttribute(‚data-id‘));
if (checkbox.checked) {

selectedSubscriptions.push(checkbox.id);
storeCheckedId.push(dataId);
} else {

uniqueSubscribedIds.delete(dataId); // Remove unchecked data-id
}
});

// Update listOfSubscribed with unique values
listOfSubscribed = Array.from(uniqueSubscribedIds);

var selectedSubscriptionsString = selectedSubscriptions.join(‚, ‚);
var concatinateSubscribeId = […new Set(storeCheckedId.concat(listOfSubscribed))];

var categoryData = {
’subscribed_categories‘: concatinateSubscribeId
};

var requestSubscriberData = {
action: ‚handle_dynamic_api_request_with_headers‘,
security: ‚0fc3abd453‘,

endpoint: ‚/app/email_newsletter/update_categories‘,
token: “,
data: categoryData
};

jQuery.ajax({
url: ‚https://coinpedia.org/wp-admin/admin-ajax.php‘,
type: ‚POST‘,
data: requestSubscriberData,
beforeSend: function(xhr) {
xhr.setRequestHeader(‚X-Requested-With‘, ‚XMLHttpRequest‘);
},
success: function(response) {
try {
response = response.data;

if (storeCheckedId.length === 0) {
var unsubcribedPopUpmodal =

`

subscribed icon

pop-cancel
pop-cancel

We’re sorry to see you go! Your subscription has been canceled. If you change your mind, you can re-subscribe anytime. Thank you for being part of our community!

`;
unsubscribemodal.innerHTML = unsubcribedPopUpmodal;
document.querySelector(‚#subscribe-modal-design .modal‘).style.display = ’none‘;
unsubscribemodal.style.display = ‚block‘;
unsubscribemodal.classList.remove(‚hide‘);
unsubscribemodal.classList.add(’show‘);
document.getElementById(’subscribe_‘ + categoryid).style.display = ‚block‘;
document.getElementById(‚unsubscribe_‘ + categoryid).style.display = ’none‘;
var showDownloadReport = document.getElementById(‚download_report‘);
if (showDownloadReport) {
showDownloadReport.style.display = ’none‘;
}

} else {

var subscribedPopupModal =

`

subscribed icon

pop-cancel
pop-cancel

Thank you for subscribing to our crypto and blockchain newsletter! You’ll now receive the latest news, insights, and updates straight to your inbox. Welcome to our community!

`;

let selectedSubscriptionsArray = selectedSubscriptionsString.split(‚,‘);
let subscribedCategories = selectedSubscriptionsArray.map(subscription => subscription.split(‚_‘)[0]);
let subscribedCategoriesString = subscribedCategories.join(‚, ‚);

subscribedmodal.innerHTML = subscribedPopupModal;
if (document.getElementById(’selectidname‘)) {
document.getElementById(’selectidname‘).textContent = subscribedCategoriesString;
}

document.querySelector(‚#subscribe-modal-design .modal‘).style.display = ’none‘;
subscribedmodal.style.display = ‚block‘;
subscribedmodal.classList.remove(‚hide‘);
subscribedmodal.classList.add(’show‘);
document.getElementById(’subscribe_‘ + categoryid).style.display = ’none‘;
document.getElementById(‚unsubscribe_‘ + categoryid).style.display = ‚block‘;
var showDownloadReport = document.getElementById(‚download_report‘);
if (showDownloadReport) {
showDownloadReport.style.display = ‚block‘;
}

}

} catch (e) {
console.error(‚Error parsing response:‘, e);
}
},

});
}

function closeModal(template_id) {
var modalId = template_id;
var modal = document.querySelector(‚#‘ + modalId); // Using querySelector to find the modal

if (modal) {
modal.classList.add(‚hide‘);
modal.classList.remove(’show‘);
setTimeout(function() {
modal.style.display = ’none‘;
}, 500);

} else {
console.warn(‚Modal not found:‘, modalId);
}
}

function closeunsubscribemodal() {
var unsubscribemodal = document.querySelector(‚.unsubscribed-popup-modal .modal‘);

if (unsubscribemodal) {
unsubscribemodal.classList.add(‚hide‘);
unsubscribemodal.classList.remove(’show‘);
}
setTimeout(function() {
unsubscribemodal.style.display = ’none‘;
}, 500);
}

function closesubscribemodal() {
var subscribedmodal = document.querySelector(‚.subscribed-popup-modal .modal‘);
setTimeout(function() {
subscribedmodal.style.display = ’none‘;
}, 500);
if (subscribedmodal) {
subscribedmodal.classList.add(‚hide‘);
subscribedmodal.classList.remove(’show‘);
}
}

function withoutLoginClicked(withoutlogin_id) {

localStorage.setItem(’subscribe_without_Login‘, ‚true‘);
localStorage.setItem(’subscribe_clicked_id‘, withoutlogin_id);
}

document.addEventListener(‚DOMContentLoaded‘, function() {

const subscribewithoutData = localStorage.getItem(’subscribe_without_Login‘);
const subscribe_clicked_cat_id = localStorage.getItem(’subscribe_clicked_id‘);

// Function to get cookies
function getCookie(name) {
let value = „; “ + document.cookie;
let parts = value.split(„; “ + name + „=“);
if (parts.length == 2) return parts.pop().split(„;“).shift();
}

// Get user token from cookies
const userToken = getCookie(‚user_token‘);

if (subscribewithoutData === ‚true‘ && userToken) {
// Call the modal function with the category ID
subscribed_popupmodal(subscribe_clicked_cat_id);

// Remove the flag and category ID from localStorage
localStorage.removeItem(’subscribe_without_Login‘);
localStorage.removeItem(’subscribe_clicked_id‘);
}
});

/************************** update susbcriber content **************************** */
function initializeSubscriptionButton() {
var initialListItems = document.querySelectorAll(‚.subscription-options input[type=“checkbox“]‘);
initialListItems.forEach(function(item) {
console.log(item.checked, ‚Initial Checkbox checked status‘);
});

var listItems = document.querySelectorAll(‚.subscription-options li‘);
if (listItems.length === 0) return;

var anyActive = false;
listItems.forEach(function(item) {
var checkbox = item.querySelector(‚input[type=“checkbox“]‘);
if (checkbox) {
if (checkbox.checked) {
item.classList.add(‚active‘);
anyActive = true; // Set anyActive to true
} else {
item.classList.remove(‚active‘); // Remove ‚active‘ class if checkbox is unchecked
}
}
});

}

function updateButtonText(anyActive) {
var subscribeButtonSpan = document.querySelector(‚.subscribe-submit .changeBtnText‘);
if (subscribeButtonSpan) {
if (anyActive) {
subscribeButtonSpan.textContent=“Subscribe Now“;
} else {
subscribeButtonSpan.textContent=“Unsubscribe“;
}
}
}

function updateSubscriptionButton() {
var listItems = document.querySelectorAll(‚.subscription-options li‘);
if (listItems.length === 0) return;

var anyActive = false;
listItems.forEach(function(item) {
var checkbox = item.querySelector(‚input[type=“checkbox“]‘);
if (checkbox) {
if (checkbox.checked) {
item.classList.add(‚active‘);
anyActive = true; // Set anyActive to true
} else {
item.classList.remove(‚active‘); // Remove ‚active‘ class if checkbox is unchecked
}
}
});

// Update the button text based on whether any list item has the ‚active‘ class
updateButtonText(anyActive);
}
document.addEventListener(‚click‘, function(event) {
var clickedItem = event.target.closest(‚.subscription-options li‘);
if (clickedItem) {
var checkbox = clickedItem.querySelector(‚input[type=“checkbox“]‘);
if (checkbox) {
checkbox.checked = !checkbox.checked;
updateSubscriptionButton();
}
}
});



Source link

Hinterlasse jetzt einen Kommentar

Kommentar hinterlassen

E-Mail Adresse wird nicht veröffentlicht.


*