The idea of rolling back the clock on cryptocurrency transactions to reverse a situation people are unhappy with is highly contentious. As such, many were shocked to hear that a number of major players in the industry had even discussed a rollback of BTC following the Binance exchange hack.
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CZ Admits to Considering BTC Reorg
The CEO of Binance, Changpeng Zhao, has revealed that he spoke with several people about pursuing a re-organization of the Bitcoin Core blockchain. One of those was Bitmain’s Jihan Wu, who CZ said educated him on why he cannot do this to BTC.
The primary reason CZ cited in favor of such an action would be to take revenge against hackers. Binance announced it suffered a major security breach on May 7, where hackers reportedly used a variety of attacking techniques, including phishing and viruses, to steal 7,000 BTC (worth over $40 million) with just one transaction.
After speaking with various parties, including