Soft Fork: Binance, Bitcoin, and reorgs

Quick Take

  • Binance got hacked and was thinking about a reorg of the chain to recover its losses
  • They decided not do, even though it was completely possible (though less likely to be successful)
  • It would have been a cool experiment if they did it

Soft Fork is a new weekly column exploring the pressing conversations around Bitcoin.

Three days after the Binance hack, there are still discussions about whether the cryptocurrency exchange could have carried out a chain reorganization to recoup their funds. 

So could they have? Yes. 

Would they have succeeded? Possibly…probably not.