Highlight Clip: Circle CPTO: If Hundreds of Millions in USDC Are Stolen, Would Arc Be Rolled Back?
Circle CPTO: If Hundreds of Millions in USDC Are Stolen, Would Arc Be Rolled Back?
Circle Chief Product and Technology Officer Nikhil Chandhok said in a September 16 interview with Bankless that, when asked whether Circle would roll back Arc if a lending protocol such as Aave were exploited by the Lazarus Group and tens or even hundreds of millions of dollars in USDC were stolen, he could not commit to a specific response.Instead, Chandhok emphasized that Arc is immutable public financial infrastructure supported by more than 20 validators.
He said rolling back a blockchain would be an extremely significant decision, and breaking its immutability could fundamentally undermine trust that would be difficult to rebuild. #usdc $USDC
Circle CPTO: If Hundreds of Millions in USDC Are Stolen, Would Arc Be Rolled Back?
Circle Chief Product and Technology Officer Nikhil Chandhok said in a September 16 interview with Bankless that, when asked whether Circle would roll back Arc if a lending protocol such as Aave were exploited by the Lazarus Group and tens or even hundreds of millions of dollars in USDC were stolen, he could not commit to a specific response.Instead, Chandhok emphasized that Arc is immutable public financial infrastructure supported by more than 20 validators.
He said rolling back a blockchain would be an extremely significant decision, and breaking its immutability could fundamentally undermine trust that would be difficult to rebuild. #usdc $USDC