Cyber Capital Founder Criticizes Ethereum L2 Solutions

According to Odaily, Justin Bons, founder and Chief Investment Officer of European cryptocurrency fund Cyber Capital, has once again criticized the operation of Ethereum Layer 2 (L2) solutions. Bons has labeled these blockchain platforms, designed to enhance the scalability of the Ethereum network, as dangerous due to their ability to transfer user funds without restrictions. He argues that most major Ethereum L2 solutions are centralized, with single servers often responsible for running the platform's operations. Bons asserts that this design contradicts the principles of decentralization and security championed by the cypherpunk movement, posing risks to investors. He warns that these chains could collapse due to a single event or be manipulated to steal user funds. The Cyber Capital founder strongly opposes these L2 solutions, claiming they cannot provide the same level of security and stability as the Ethereum mainnet. Although adverse events such as user fund losses have not yet occurred, Bons emphasizes that the mere possibility is highly concerning.