Ethereum L2s can steal all user funds at any moment! ⚠️

Arbitrum One: "The Security Council can perform emergency upgrades directly through the UpgradeExecutor. Such an upgrade can be executed instantly without any delay. Theoretically, the Security Council can instantly upgrade the chain and steal user funds."

Optimism: "The OP Mainnet rollup can be controlled and altered by a direct upgrade of the contracts: such an upgrade can be executed without delay and alter all rollup mechanisms, including stealing users’ funds."

Loopring: "The system is operated by the Loopring multisig. It can instantly upgrade ExchangeV3’s implementation, potentially altering the functioning of the whole rollup, including stealing users’ funds."

zkSync Era: "The Governor can also change the Verifier contract without any delay. As the Verifier contract is responsible for zkProof verification, the Governor can steal funds from the rollup by changing the Verifier into a malicious version."

And these are just some excerpts from the "Upgradeability of Ethereum L2s" report.

Existing L2s are not a scaling solution, they're a solution for banksters to take control over your coins. The very same applies to Bitcoin L2s such as custodial Lightning wallets and Liquid. And that's why they're afraid of L1 scaling: they want to be in control.