How could Magneto's origins be updated?

I've wondered about that too- that's the funny thing about comics. As we get farther and farther away from the "Golden Age" when many of these characters were created, their beginnings make less and less sense. X-men is such a product of the 60s thematically, I don't know what they'd do. At some point, some of these stories could almost be "period pieces" like First Class. I think they've already had to re-write Captain America, since eventually he was too old to have been a WWII vet, so they invented the "frozen" explanation for why he's still around.

The problem with Magneto is that the Holocaust has so much in common with Magneto's POV on mutants... in that he feels mutants will be exterminated as the Third Reich wanted to do to Jews... and I don't know if anything lines up with that. Looking up other examples of genocide, I found Rwanda and Bosnia, so one of those might work, although neither was on the scale of the Holocaust.

In short, I don't know HOW it could possibly work, but I'm sure they'll do it eventually. The most "realistic" idea (and the one that wouldn't tie him down to a time period) would be simply that he was experimented on, but honestly, so many mutants are experimented on that he'd have to go through something really unique for him to turn out as Magneto.

Have him frozen after his time
in the holocaust and then thawed out in the present like Captain America?