Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

Crypto exchange Binance founder and CEO Changpeng Zhao said the team is deciding on whether it will push for a rollback on the bitcoin network following a $40 million hack on the exchange earlier Wednesday.

Answering questions on whether the firm considers rolling back bitcoin network transactions, which would require pushing for consensus from major miners and mining pools to gather over 51 percent of the networks total hashing power, Zhao said:

To be honest, we can actually do this probably within the next a few days. But therere concerns that if we do a rollback on the bitcoin network at that scale, it may have some negative consequences, in terms of destroying the credibility for bitcoin.

He added that he has also seen a lot of people objecting to rollbacks since there are the ethical and reputational considerations for the bitcoin network.

The team is still deciding that, and we are running through the numbers and checking everything, he said. Its interesting that its a tech solution [suggested] to us by the community, including some of the core members of the bitcoin development team. We will consider that very, very carefully, with the feedback we are receiving.

https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack