- North Korean hackers, linked to groups like Lazarus, have stolen millions in Ethereum, raising global security concerns.
- Debate on X highlights tension between Ethereum’s decentralization and calls for intervention in illicit activities.
On February 22, 2025, Justin Bechler, a user on platform X, sparked a heated debate in the crypto-financial community with a post claiming that Vitalik Buterin, co-founder of Ethereum, faces a critical decision following an alleged attack by North Korean-linked hackers.
Vitalik is caught in a nightmare he can't win.
Roll back the chain and Ethereum proves it’s centralized. Do nothing and Ethereum funds North Korean terrorism and will suffer brutal OFAC sanctions.
Either way, Ethereum is finished. The only question is how fast it collapses. https://t.co/dVI3UZZJfi
— Justin Bechler (@1914ad) February 22, 2025
Bechler stated that Ethereum must choose between implementing a “hard fork” to recover stolen funds or maintaining its current structure, risking sanctions from the U.S. government, specifically the Office of Foreign Assets Control (OFAC).
If Vitalik and the Ethereum Foundation don't push through a hard fork to defund these North Korean hackers, they need to be held responsible for aiding and abetting global terrorism @USTreasury OFAC
— Matthew R. Kratter (@mattkratter) February 22, 2025
Bechler referenced a previous comment by Matthew Kratter, who suggested that if Ethereum does not execute a hard fork to reclaim funds stolen by North Korean hackers, the Ethereum Foundation and Buterin could be held accountable for supporting global terrorism. Kratter’s mention of OFAC highlights the regulatory pressure mounting on the blockchain network.
The discussion on X reveals divided opinions
Some users, like Decode, argue that Buterin and the Ethereum Foundation bear no direct responsibility for the attacks and should not intervene.
Others, such as Albert Renshaw, compare the situation to Bitcoin, questioning whether a decentralized blockchain like Ethereum can reverse transactions without compromising its core principles.
Bechler responded to these criticisms, insisting that Ethereum faces an imminent collapse—either from centralization or sanctions.
Related news confirms the activity of North Korean hackers in the crypto sector. A Reuters report from November 21, 2024, details how South Korean police identified groups like Lazarus and Andariel, linked to North Korea’s military intelligence, as responsible for a 2019 Ethereum theft valued at $41.5 million.
Another article from the Georgetown Journal of International Affairs, dated May 27, 2024, notes that these hackers stole over $100 million in cryptocurrencies in 2022, using platforms like Uniswap to convert stolen assets into Ethereum.
The Ethereum Foundation has yet to issue an official statement regarding these allegations or a potential hard fork. However, the debate on X reflects the tension between blockchain decentralization and the expectation of intervention in the face of illicit activities.
Bechler concludes that Ethereum is at a dangerous crossroads, where any decision could mark the end of its relevance in the crypto-financial market.
