Cryptocurrencies
Binance CEO Spurs Outcry by Suggesting Blockchain Rollback
- Binance CEO discusses reversal of transactions after hack
- Rewriting of transactions risks loss of confidence in Bitcoin
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The cryptocurrency world was shaken to its foundations Wednesday after Binance’s Zhao Changpeng suggested that the Bitcoin network may not be as immutable as advertised.
The chief executive officer of one of the world’s largest cryptocurrency exchanges said -- in a video as well as several tweets -- that he considered making a push to rewrite a chunk of the digital ledger than underpins Bitcoin to invalidate the overnight theft of about $40 million of the digital coins.