The post Ethereum Could Reverse the $1.4B Bybit Hack – But Here’s the Risk appeared first on Coinpedia Fintech News
Ethereum is back in the spotlight—but not for good reasons. Hackers broke into Bybit’s cold wallet and stole over $1 billion worth of Ethereum. More than 401,000 ETH, including staked tokens, were taken. After the news broke, Ethereum’s price dropped over 5% to $2,700 in the past 24 hours.
Crypto analyst Justin Bechler says Ethereum is facing an impossible dilemma, especially with reports linking the attack to North Korean hackers. The big question now is whether Ethereum should reverse the transactions or let them stand.
Vitalik Buterin Under Pressure
Social media platform X has turned into a battleground. Some users are mocking Ethereum’s co-founder, vitalik buterin 
vitalik buterin
Vitalik Buterin is a professional programmer and Co-Founder of Ethereum. Buterin, along with Gavin Wood, Charles Hoskinson, Joseph Lubin, and Anthony Di, launched Ethereum in 2014. He co-created Ethereum when he understood that he could construct a new, possibly enhanced version by iterating on the Bitcoin blockchain. He has been involved in the Bitcoin community since 2011, writing and co-founding articles for Bitcoin magazine.
Details:
Organization: EthereumLocation: CanadaEducation: Vitalik graduated from the University of Waterloo (2012–2014)Skills: Computer programming and writing
Awards:
Honored with the Thiel Fellowship Award in 2014.Won the World Technology Network prize.Fortune's 40 under 40 list and appeared on the Under 30 list of Forbes at the age of 23
Experience:
He has been the founder of Ethereum from November 2013 to the present.Buterin has contributed as a developer to other open-source software projects. He also contributed to DarkWallet.Buterin has been involved in various initiatives to improve blockchain technology and its applications.
FAQ
1. Who is Vitalik Buterin?One of the most well-known figures in the cryptocurrency space is Vitalik Buterin, who co-founded Ethereum, one of the biggest and most significant blockchain systems.2. What is the net worth of Vitalik?Vitalik's net worth is 32 billion dollars, according to Forbes.
3. What does Vitalik Buterin invest in?Vitalik Buterin has made numerous investments in companies like Varro Life Sciences, Polymarket, and RISE (Singapore) within the healthcare technology systems, information services (B2C), and financial software industries.
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, while others say he should step in. Well-known analyst Matthew R. Kratter believes Ethereum’s leadership should take responsibility. He argues that if they do nothing, Ethereum could be seen as indirectly supporting global terrorism by allowing hackers to keep the stolen ETH.
A Hard Fork Could Damage Ethereum’s Reputation
Bechler explains that Ethereum is stuck between two bad options. If it rolls back the transactions with a hard fork, it would prove that Ethereum is centralized—going against the core idea that blockchains should be immutable.
But if Ethereum does nothing, it risks being tied to terrorism financing, which could lead to harsh regulations.
Arthur Hayes Calls for a Rollback
BitMEX co-founder and major ETH holder Arthur Hayes is urging Buterin to take action. He pointed out that Ethereum reversed transactions before in 2016 after the DAO hack—so why not do it again? So far, Buterin has stayed silent.
However, reversing the hack could confirm accusations that Ethereum is not truly decentralized. One of the biggest selling points of crypto is that transactions can’t be changed. If Ethereum breaks this rule, its reputation could take a serious hit.
Bitcoin Supporters Mock Ethereum
Bitcoin advocates, including Samson Mow, are using this as an opportunity to poke fun at Ethereum. Many are posting identical tweets pretending to “discuss rolling back Ethereum.” Mow sarcastically suggests that if Ethereum does this, they should launch a new version of Ethereum called ETHNK (short for “North Korea Ethereum”) to hold the stolen funds.
Meanwhile, Binance and other major exchanges are stepping in to support Bybit by sending millions of dollars in ETH to help stabilize the platform.
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Could This Lead to U.S. Sanctions?
If Ethereum does nothing, the stolen funds could be used to finance North Korea’s cyberattacks, putting Ethereum in the crosshairs of global regulators. The U.S. might even impose strict sanctions, making it harder for Ethereum to work with banks and businesses.
On the other hand, if Ethereum interferes, it could lose trust within the crypto community.
A decision must be made, but either path comes with a price.
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FAQs
As per our Ethereum price prediction 2025, the ETH price could reach a maximum of $5,925.
As the altcoin season begins, the short-term gains make Ethereum a lucrative buying option. However, the long-term promises of this programmable blockchain make it a viable long-term crypto investment.
As per our latest ETH price analysis, the Ethereum could reach a maximum price of $123,678.
By 2050, a single Ethereum price could go as high as $255,282.
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