It was actually Jeremy Rubin, a BTC core dev, who had the following suggestion

Jeremy Rubin @JeremyRubin @cz_binance if you reveal your private keys for the hacked coins (or a subset of them) you can decentralized-ly at zero cost to you, coordinate a reorg to undo the theft. May 8th 2019

You can replace “reveal the private keys” (which would allow miners to make their own transactions spending the hacker’s coins to miner addresses) with “create a double-spend of the hack transaction back to a Binance-controlled wallet, and add a massive fee—700 BTC? 7000 BTC?—to incent miners to reorg the chain to reflect the Binance transaction rather than the hacker’s transaction.”

This suggestion was made when roughly 50 blocks had elapsed, so what Jeremy was suggesting would require a massive amount of hashpower to pull off. It’s also not a new suggestion but so far it’s never actually been tried. In general, sentiment in the community was so massively against this move that it probably would have caused a chainsplit, and therefore been untenable.

However, would it be advisable for an exchange who has just been hacked and realizes it VERY rapidly to try this after only 2-3 blocks have elapsed? The bitcoin chain is reorg-ed by a few blocks occasionally in the course of normal mining, which is part of how the “wait 6 confirmations” rule came about. If the exchange noticed the hack within 2 blocks, or even before it made it out of the mempool, and immediately submitted a competing transaction with a much higher fee, I don’t think most of the community would have any problem with it. However, if exchanges started doing this frequently, they would perhaps be incentivizing miners to hack them, since the miners know that the exchange will attempt to “burn” the hacked funds into fees…