Can on-chain rollbacks fail to recover stolen assets?

Three public blockchain emergency shutdowns highlight the practical limitations of on-chain emergency powers.

ForesightSep 2 11:40

Express News | Upbit suspends deposits and withdrawals for assets related to the Ontology network, affecting ONT, ONG, and MBL

On August 31, South Korean cryptocurrency exchange Upbit announced that it would temporarily suspend deposit and withdrawal services for digital assets based on the Ontology network due to ongoing network inspections. The affected assets include Ontology (ONT), Ontology Gas (ONG), and MovieBloc (MBL). The suspension is effective immediately from the time of the announcement and will remain in place until Upbit confirms the security of deposits and withdrawals on the relevant network; the specific resumption time will be announced separately. Upbit stated that trading services for these assets remain unaffected, but during the suspension period, users will be unable to register deposit or withdrawal addresses or process refunds. Depositing relevant assets into Upbit during this period may result in funds not being credited properly, with a risk of irreversible loss.

BreakingsAug 31 17:01