A $50 million heist calls a new virtual currency into question. What should Ethereum do about it?
Jessi Hempel

I am a big believer in a clean hard fork. Let’s do it quickly and let’s do it now. Let’s excise the bad code from the blockchain. And let’s move on.

The people who oppose a fork say that it will set a precedent, that it will create a moral hazard. While I understand this intellectually pure argument, it stems from a misunderstanding of how the legal system works. Binding precedents are set by courts, for the legal system. Actions of a private entity don’t bind that entity for the indefinite future. Ethereum can very much cite the current special circumstances (e.g. it’s too early in the lifecycle of the projet, it’s too much money, it risks a potential switch to PoS), do it once, and not do it again. It’s time to be pragmatic, to step in and to cut out the ongoing infestation from the blockchain.