deBridge Co-founder: Flow's hasty rollback may trigger greater systemic risks

deBridge co-founder Alex Smirnov posted on the X platform that he has noticed the news regarding Flow's decision to roll back the blockchain state and expressed concerns about the execution of that decision.

Alex pointed out that, although Flow officials claim to be in a synchronization window with key ecosystem partners such as bridges, CEXs, and DEXs, deBridge, as one of Flow's main cross-chain bridges, has not received any communication or coordination from the Flow team. Alex stated that the economic losses that may result from a hasty rollback of the chain state could far exceed the initial security incident itself and could trigger systemic issues, affecting cross-chain bridges, custodians, users, and counterparties that were operating normally within the relevant time window.

He emphasized the potential issues during the cross-chain process, such as balance doubling and assets being unrecoverable, and pointed out that several large cross-chain and custodial transactions have already been completed during the rollback window, including USDC-related transactions managed by LayerZero. Alex further compared that in past similar incidents, such as with BNB Chain, the approach was more about isolating the attacker rather than rolling back the global state.

He urged Flow validators to suspend the verification of the rollback chain until a clear remedy plan is established, ecosystem coordination is completed, and security organizations are involved, to avoid irreversible consequences, and emphasized that the current situation requires more transparency, collaboration, and restraint, rather than rapid execution of aggressive actions.