Solana’s Yakovenko Questions Ethereum L2 Security Amid Public Debate

In Brief

• Yakovenko claims L2s face the same security risks as bridges like Wormhole.
• Buterin says L2s remain safe under Ethereum’s base-layer protection model.
• Debate reignites concerns over multisig control and true decentralisation of L2s.

Solana co-founder Anatoly Yakovenko has reignited concerns about the security model of Ethereum Layer 2 networks. In a post on X, he argued that L2s face the same worst-case risks as cross-chain bridges, such as Wormhole.

Yakovenko emphasised that most L2s rely on upgradeable multisig contracts, which can be exploited if signers collude or are compromised. He claimed this structure exposes bridged funds to similar vulnerabilities and makes decentralization promises ineffective.

Ethereum co-founder Vitalik Buterin previously defended L2 architectures, stating that their connection to Ethereum ensures protection from 51% attacks. However, he acknowledged limitations when validators act outside Ethereum’s base-layer authority.

Despite Ethereum’s broad validator base, Yakovenko asserted that current L2 designs remain exposed due to complex codebases and off-chain execution. He believes these weaknesses persist even after five years of L2 development.

Public Disagreement Highlights Industry-Wide L2 Uncertainty

Gabriel Shapiro and other Ethereum supporters responded by arguing that L2s can still inherit security from Ethereum with proper mechanisms. They claim that Stage 2 rollups already resemble vault contracts with full L1 enforcement.

Yakovenko rejected this view, stating that the real issue is not coordination difficulty but whether users control access to their funds. He also proposed that Ethereum could operate as a Solana Layer 2 via a custom bridge, avoiding trust-based multisig dependencies.

The exchange has sparked broader concern across the developer community, as Ethereum L2s now hold over $35 billion in total value locked. Debate continues over whether current L2 systems meet the decentralisation and security standards expected in production environments.