Arthur Hayes Suggests Ethereum Rollback to Recover Bybit’s Stolen $1.4B

BitMEX co-founder Arthur Hayes proposed rolling back the Ethereum network to reverse the Bybit hack, arguing that Ethereum had already abandoned immutability with the 2016 DAO hard fork. However, many in the community warn that such a move would disrupt DeFi, bridges, stablecoins, and the broader Ethereum ecosystem. While Hayes supports the idea, critics believe it could damage Ethereum’s credibility, forcing it to choose between decentralization and preventing bad actors from keeping $1.4 billion in stolen funds.