Can git rebase completely remove remote history?

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As we consider moving from SVN to git at work, a coworker has raised the concern that a malicious or accident-prone developer could use git rebase to delete remote history from our shared repo.

Edit: As pointed out in the answers, entire branches could also be deleted from the remote repo with git push origin :branch-name.

Is this a realistic problem? If so, what approach can we take to prevent it?

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