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Crypto Veteran Samson Mow Slams Ethereum, Calls for Chain Rollback After Hackers Loot $1,400,000,000 From Bybit

Bitcoin advocate Samson Mow says Ethereum should undergo a hard fork after North Korean hackers stole a staggering $1.4 billion in ETH and stETH by exploiting crypto exchange Bybit. In a new thread on the social media platform X, Bitcoin ( BTC ) maximalist Samson Mow says the leading smart contract platform by volume should roll back its blockchain to return the money to Bybit as well as prevent the North Korean government from weaponizing the looted ETH stash. “I fully support rolling back Ethereum’s chain (again) so the stolen ETH is returned to Bybit and also to prevent the North Korean government from using those funds to finance their nuclear weapons program. It’s not about what I want. It’s about what is best for the entire Ethereum ecosystem which I care deeply about. We cannot allow ETH to finance the North Korean nuclear program.” Blockchain rollbacks reverse transactions that have already been confirmed to restore the chain to a specified earlier state and are usually performed after a network undergoes a major security breach. In the case of ETH, a rollback will lead to a hard fork similar to in 2016 during the Ethereum DAO hack when thieves stole 3.6 million Ether. Mow goes on to joke that the new roll-backed chain should keep the ticker ETH while the current one could be renamed to “ETHNK,” noting that investors should think about refraining from trading ETH until things are figured out. “As Vitalik Buterin and I discuss the best way to roll back the Ethereum chain, it’s best for everyone to stop trading ETH. Given that the rolled-back chain will have the ticker ETH, it’s prudent to rename the current one to ETHNK, which I believe Supreme Leader Kim Jong Un will continue to run validators for. So we will now have: ETH (the real Ethereum), ETHNK (which Coinbase should delist immediately), [and] ETC (Ethereum Classic) Let’s get to work.” Ethereum is trading for $2,770 at time of writing, a 4% increase during the last day. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: DALLE3 The post Crypto Veteran Samson Mow Slams Ethereum, Calls for Chain Rollback After Hackers Loot $1,400,000,000 From Bybit appeared first on The Daily Hodl . CoinOtag

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HTX Global Advisor Justin Sun Advocates Crypto Security Collaboration

Singapore, February 23, 2025 – In the wake of the recent $1.5 billion hack affecting a major cryptocurrency exchange, HTX hosted a live discussion on X and its Global Advisor Justin Sun addressed the growing security concerns in the cryptocurrency industry. The discussion, titled “Together Against Industry Crisis, Is There a Best Solution for the Security of the Crypto Industry?” featured insights from leading security firms SlowMist and GoPlus Security, as well as prominent KOLs. Security: A Top Priority for HTX Sun stressed that security is a “top priority”, demanding constant vigilance and learning. He illustrated how hacker tactics have evolved, from early hot wallet attacks to more sophisticated multi-signature wallet breaches, and declared that exchanges must continuously enhance their security protocol. Sun emphasized that security is like personal health management, requiring internal efforts and a proactive approach. HTX has implemented multi-device login, remote login alerts, abnormal transfer alerts, and other security features, and has publicly disclosed Merkle Tree Proof of Reserve (PoR) for 28 consecutive months, maintaining reserve ratios exceeding 100%. Sun’s Influence on Security Practices Across the Crypto Landscape Sun’s commitment to security extends to his vision for HTX and his influential role in shaping security practices across the broader crypto landscape. He believes that the principle of security is considered fundamental to every business and product. He cited the early implementation of native multi-signature functionality in TRON as a successful example of proactive security design, demonstrating his commitment to building security into the foundation of his projects. He also highlighted the recent launch of USDD 2.0, emphasizing the deep understanding of stablecoin security risks that informed its development. “Just as exchanges should strengthen security mechanisms from the source in system design and operation, to maximize the prevention of security incidents,” Sun stated. Sun also revealed that HTX collaborates with numerous white hat teams to conduct continuous penetration testing, security drills, and vulnerability mining. The platform actively monitors global cryptocurrency security incidents and studies hacker attack principles and methods for effective prevention. Addressing the Situation and Industry Cooperation Regarding the controversy surrounding CZ’s suggestion for the affected exchange to suspend withdrawals, Sun acknowledged the validity of the advice from an exchange perspective. He explained that the initial hours after a security breach are crucial for investigating the issue and ensuring safety. While suspending withdrawals is necessary to eliminate risks, the suspension period should be minimized to reduce user impact. Sun called for closer cooperation between exchanges, security agencies, and the community to jointly address hacker threats, promote technological sharing, security innovation, and information exchange, and promote the healthy and sustainable development of the industry. HTX’s Commitment to User Safety HTX demonstrates its commitment to security through a proactive and continuously improving approach. The platform’s multi-faceted security strategy encompasses collaboration with leading security experts, rigorous ongoing monitoring, robust internal protocols, and a focus on enhancing multi-signature support, security alerts, and mitigating emerging threats such as hashtag scams. This comprehensive strategy reflects HTX’s dedication to safeguarding user assets and fostering a secure and reliable trading environment. This commitment was further emphasized by the specific security protocol requirements shared by Justin Sun at the February 21st Meetup in Hong Kong. About HTX Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses. As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services. Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide. For more information on HTX, please visit the HTX Square , or https://www.htx.com/ , and follow X , Telegram , Discord . For further press enquiries, please contact glo-media@htx-inc.com . The post HTX Global Advisor Justin Sun Advocates Crypto Security Collaboration first appeared on HTX Square . CoinOtag