PR #34695 proposes a one-time rule to move 79,956 BTC from the 1Feex address tied to Mt. Gox hack, raising governance and split risks for a Bitcoin hard fork.
PR #34695 proposes a one-time rule to move 79,956 BTC from the 1Feex address tied to Mt. Gox hack, raising governance and split risks for a Bitcoin hard fork.
What to Know:
According to Cointelegraph, former Mt. Gox CEO Mark Karpelès has floated a Bitcoin hard fork that would add a one-time consensus rule allowing movement of specific stolen coins without the private key. The rule would target a known unspent transaction output and redirect those funds to a designated recovery address at a predetermined block height.
As reported by Coinpaper, the targeted coins are approximately 79,956 BTC associated with the 1Feex address and linked to the 2011 Mt. Gox hack. The change is explicitly non‑backward‑compatible, meaning nodes and miners would need to upgrade to follow the amended rules.
As detailed by ForkLog, critics argue that carving out exceptions to Bitcoin’s rules, even once, weakens immutability and invites future pressure to replay similar fixes after every major theft. The concern extends to governance, where protocol decisions could become politicized if legal or jurisdictional outcomes start steering consensus changes. “If it can be done once, it can be done again,” as reported by ForkLog, summarizing a central objection.
Supporters frame the case as creditor restitution for a uniquely identifiable UTXO tied to a high‑profile exchange collapse, with coins reportedly unmoved for years and ownership claims routed through formal rehabilitation. TheCoinRepublic notes that some Mt. Gox creditors view the idea as a chance to recover more than previously expected. After outlining the rationale, Mark Karpelès, former CEO of Mt. Gox, called it a “one-time, exceptional case.”
As reported by CoinDesk, early community reaction included swift pushback, underscoring the risk of social and network fragmentation if activation lacks overwhelming support. In market context at the time of this writing, Bitcoin traded near $66,258, based on data from the same report block.
In practical terms, a hard fork of this kind would encode a special consensus rule identifying the 1Feex UTXO and permitting a spend to a specified recovery address without the corresponding private key. Activation would occur at a set block height, after which upgraded nodes and miners would accept the redirected spend as valid while non‑upgraded peers would reject it.
Because the change is non‑backward‑compatible, broad coordination among full nodes, miners, and exchanges would be required to minimize chain‑split risk. If consensus is not overwhelming, two chains could persist: one recognizing the redirected UTXO and another enforcing the historical rules. Distribution of any recovered funds would be subject to existing legal processes governing the Mt. Gox estate, and operational details would likely depend on trustee and court frameworks in place at the time.
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