Journalist
Posted:
- Whales collected 140,000 ETH in the middle of Bybit’s Hack of $ 1.4 billion linked to Lazarus Group.
- Bybit offers a premium of $ 140 million to reclaim stolen funds and reduce losses.
Ethereum [ETH] Experience with a remarkable market shift in the last 24 hours when whales collected 140,000 ETH in the midst of increasing concern about breaches of security.
This increase in accumulation coincided with a large incident with Bybit, which was a hack of $ 1.4 billion, reportedly linked to the notorious Lazarus group.
The infringement caused a wave of recordings when investors hurried to leave the platform.
Bybit CEO Ben Zhou’s action plan
In response, Bybit CEO Ben Zhou announced Attempts to restore the stolen assets, including launching a premium program, collaborating with law enforcement and dealing with the Ethereum Foundation to explore potential solutions.
Zhou also treated the controversial opportunity to roll the Ethereum -Blockchain back to reverse the effects of the hack.
The Bybit CEO went to X (formerly Twitter) and said,
“I’m not sure if it’s a man’s decision. Based on the spirit of Blockchain, it might be a voice process to see what the communities want, but I don’t know for sure. “
Arthur Hayes joins the battle
Arthur Hayes, co-founder of BitMex and an important ETH holder, recently, reaches Co-founder of Ethereum Vitalik Buterin with a daring proposition.
Hayes suggested considering a network back to help restore Bybit of his devastating ETH hack of $ 1.4 billion.
This idea has led to a debate within the crypto community.
Turning back such a state of the blockchain would reverse how it was before the attack, possibly recover stolen funds, but raise questions about the integrity and immutability of the Ethereum network.
Hayes noticed,
“@Vitalikbuterin wants to argue you to roll the chain back to help @ByBit_Official.”
He added,
“My own opinion as a mega $ ETH tag holder is $ ETH stopped money in 2016 after the DAO Hack hardfork. If the community wanted to do it again, I would support it because we already voted no in 2016 [wh]Don’t you do it again? “
Previous reversing incident
The concept of reversing the Ethereum -Blockchain is not unprecedented.
In 2016, after the infamous DAO hack that emptied around $ 60 million in ETH, the Ethereum community started a hard fork.
This split resulted in two separate block chains: Ethereum Classic [ETC]who retained the original chain, including the hacked transactions, and the current proof-of-stake Ethereum Network, which reversed the illegal transactions.
This historical precedent now nourishes the debate on whether a similar recovery should be considered for the recent Bybit -Hack.
What is more?
Analytics company on Chains Lookonchain unveiled The fact that the Lazarus group currently arranges around 489,395 ETH, with a value of approximately $ 1.3 billion, together with 15,000 cloak Restaked ETH (CMeth) spread over 54 portfolios.
Coupled to North Korea, the group has actively moved this stolen assets between portfolios to hide their origins and to facilitate the money laundering of chains.
In response, Bybit launched a premium program of 10%-that up to $ 140 million was considered to stimulate to encourage white-hat hackers to restore the stolen funds. CEO Ben Zhou also expanded his gratitude to market leaders and companies that support the platform during this crisis.