After North Korean hackers exploited the Bybit exchange to steal Ethereum valued at up to $1.4 billion, Bitcoin extremist and JAN3 head Samson Mow called for the rollback of the Ethereum chain.
Moreover, Bitcoin maxis seem to be mocking Ethereum leader Vitalik Buterin as they spread a tweet saying "Discussing the best way to rollback Ethereum with him." Meanwhile, other major cryptocurrency exchanges including Binance have extended a helping hand, providing tens of millions of dollars in ETH to the troubled platform.
Samson Mow proposed an Ethereum rollback. Mow, who often criticizes Ethereum for being centralized, along with other Bitcoin heavyweights like Max Keiser, posted several consecutive tweets commenting on the Bybit situation, which suffered one of the largest hacks in the history of the crypto space.
On Twitter, Samson expressed his full support for rolling back Ethereum (he reiterated this) so that the stolen ETH could be returned to Bybit. He also mentioned that the stolen funds could potentially be used to fund North Korea's nuclear weapons program, which Mow does not want to happen.
He and another BTC heavyweight @SolveMaxwell posted the same tweet, stating that they and Vitalik Buterin are discussing the best options for rolling back Ethereum. The tweet urges X readers: "Everyone better stop trading ETH." The tweet also mentioned a non-existent but possible ETH-based version called ETHNK (NK stands for North Korea), which would still exist after Vitalik rolls back Ethereum and "cancels" the stolen $1.4 billion worth of cryptocurrency. Mow also suggested: "While we roll back, this is also an opportunity to adjust EIP-1559 to correct the deflationary destruction mechanism."
Exchanges support Bybit and ETH Mow mentioned the first Ethereum rollback in 2016, when the Ethereum DAO was hacked, and 3.6 million ETH (then worth $50 million) was stolen. The result of this hard fork was the emergence of the Ethereum Classic (ETC) chain. Mow and @SolveMaxwell's shared tweet also mentioned this token.
Leading exchanges have responded and started providing liquidity to Bybit—Binance, MEXC, and Bitget. According to Colin Wu, they have transferred 50,000 ETH, 12,652 stETH, and 64,452 ETH as loans to support it.
