Etherum Details Technical Barriers For Turns $ 1.4B Bibit Hack

Etherum Developer gave an explanation of why the network cannot “rollover” transactions to recover Bibit’s stolen $ 1.4 billion.

The analysis compares the current situation with two historical cases in which the transformed block was feasible. In 2010, Bitcoin successfully rolled back transactions when the error created 184 billion BTC. The team of Tim Beiko stated that it is possible due to the small size of the network and clear protocol violation.

Similarly, Etherum’s 2016. Recovery Dao Hack managed because the stolen funds have frozen over 30 days, allowing the community coordination time.

Beiko mentioned that Bibit Hack has basically different challenges. Theft occurred through a compromised multisig interface that the malicious transactions seemed legitimately signatory.

By Etherum’s (El) The perspective, these transactions followed all the rules of Protocol, leaving no technical basis for intervention.

Attempting to reverse from Haka Bibits can cause disruption

Beiko also pointed out that modern cryptocurnancy infrastructure also increased more complex. The stolen funds were immediately moving and could be redirected through decentralized exchange, protocols for lending and cross chains.

This interconnection means any reverse transaction attempt would create a disorder through ecosystems. It could affect legitimate shops and settlements, he says.

While Etheretum can still theoretically apply “improper changes to the state” when funds are frozen and isolated, the last such proposal in 2018. With a strong opposition. That attempt that aimed to recover 500,000 frozen ETE from parity wallet, but was rejected for concern about centralization and precedent.

Technical constraints are further prominent to recent events. The CRIPTO MIXER Platform EKC has rejected Bibita request for cooperation in monitoring stolen funds.

Slovmist, Blickchain Security Firm, reports that hackers have already started laundry ETE through EKC, pretending it in Bitcoin (Btc), Monero (KSMR) and other cryptocurries.

The founder of Slovmist warned that the ECC’s history of hostile behavior towards safety research and recommended exchange increases risk control for funds originating from the platform.

The rapid movement of assets through mixing services shows why technical solutions like feedback are no longer sustainable for the main steals in today’s CRIPTO ecosystem.