Circle's Chandhok declines to say whether Arc would roll back if hundreds of millions in USDC were stolen

  • Nikhil Chandhok declined to say whether Arc would be rolled back after a major USDC theft.
  • Arc is backed by more than 20 validators, Chandhok said.
  • Circle has no interest in rolling back Arc for any reason, Chandhok said.

Circle Chief Product and Technology Officer Nikhil Chandhok said in a recent Bankless interview that he could not say specifically whether Arc would be rolled back if hundreds of millions of dollars worth of USDC were stolen. He also declined to speculate on how Circle might respond if a major lending protocol such as AAVE were hacked and tens of millions to hundreds of millions of dollars in USDC were stolen on Arc. Chandhok described Arc as a tamper-resistant public blockchain financial infrastructure backed by more than 20 validators (entities that verify blockchain transactions). He emphasized that breaking the chain's immutability (resistance to changing recorded data) could damage trust in ways that would be difficult to rebuild. Chandhok said Circle has no interest in rolling back the chain for any reason, while cautioning that he could not discuss a specific response without knowing the circumstances of a particular security incident.

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