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2/ The major hacks we've seen are undeniably thefts with strong evidence. If there was a way to reverse those thefts under such circumstances, our ecosystem would be much safer.
Our proposal allows reversals only if approved by a decentralized quorum of judges. The steps:
— kaili.eth (@kaili_jenner) September 24, 2022
How would reversible Ethereum tokens work?
Contrary to blockchain principles
it's an interesting idea but can be solved through other means that keep crypto truly permissionless: native account abstraction and the mass adoption of smart contract wallets
we can do things like:
- fraud monitoring
- multisig for everyone
- social recovery
— Argent (@argentHQ) September 25, 2022
So how does this work when an attacker steals ERC-20R and cashes out to ETH via a DEX in the same transaction? Or ERC-20R will be incompatible with the current DeFi ecosystem? https://t.co/n5pN82ZBBe
— Roman Semenov 🌪️ (@semenov_roman_) September 25, 2022