A mechanistically unprecedented situation characterizes the gas‐phase ion chemistry of Ni(C,H3,O)+ when reacted under thermal, single‐collision conditions with ethane. A dehydrogenation channel leading to Ni(C3,H7,O)+ is to 90% preceded by a complete loss of positional identity of all nine H‐atoms of the encounter complex (‘scrambling’), whereas ca. 10% of the reaction exhibit a selective CH bond activation of the alkane. In addition, a degenerate H exchange between ethane and the (C,H3,O) unit occurs as a side reaction, the mechanistic details of which remain unknown for the time being.