A prominent Bitcoin supporter, Samson Mow, is urging a drastic measure for Ethereum: a blockchain rollback. This comes after North Korean hackers stole a whopping $1.4 billion worth of ETH and stETH from the cryptocurrency exchange Bybit.
Mow’s Proposal: Rewind Ethereum
Mow, known for his Bitcoin maximalist views, believes Ethereum should reverse transactions to recover the stolen funds and prevent the North Korean government from using them to fund its weapons program. He’s suggesting a hard fork, similar to the one in 2016 after the DAO hack, to essentially rewind the blockchain to a point before the theft.
He argues this isn’t just about personal preference but about protecting the entire Ethereum ecosystem. The idea is to reclaim the stolen ETH and prevent it from bolstering North Korea’s nuclear ambitions.
A Name Change Suggestion (and a Joke?)
Mow even jokingly proposed a name change. He suggests keeping the original, rolled-back chain as “ETH,” while renaming the current chain to “ETHNK” (a nod to North Korea’s leader, Kim Jong Un). He further suggests exchanges like Coinbase should delist ETHNK immediately. He also mentions Ethereum Classic (ETC) in his proposed solution.
He humorously adds that investors should hold off on trading ETH until the situation is resolved.
Current Ethereum Price and Disclaimer
At the time of writing, Ethereum is trading at $2,770, up 4% in the last 24 hours. It’s important to remember that this information is for informational purposes only and not financial advice. Always do your own research before investing in cryptocurrencies.
