Skip to main content

$30 Million: Ether Reported Stolen Due to Parity Wallet Breach

Smart contract coding company Parity has issued a security alert, warning of a vulnerability in version 1.5 or later of its wallet software.
So far, 150,000 ethers, worth $30 million, have been reported by the company as stolen, data confirmed by Etherscan.io. As reported by the startup, the issue is the result of a bug in a specific multi-signature contract known as wallet.sol. Data suggests the issue was mitigated, however, as 377,000 ethers that were potentially vulnerable to the issue were recovered by white hat hackers.
Parity ranked the severity of the bug as "critical" in its public remarks, urging "any user with funds in a multi-sig wallet" move their funds to a secure address.
According to Parity founder and CTO Gavin Wood, at least three ether addresses have been compromised as a result of the bug.
Writing in the Parity Gitter channel, Wood said:
"There is an effort by the foundation underway to secure funds in other wallets to prevent any further compromises; they will make an announcement in their own time."
On social media, notable blockchain specialists are already weighing in on the situation, with Proof of Existence creator Manual Araoz suggesting that the compromised addresses could potentially belong to notable owners.
Specifically, he identified Edgeless Casino, Swarm City, and æternity – three recent initial coin offering projects built on ethereum – as potentially having been compromised in the thefts.
As of press time, Swarm City had confirmed the loss of 44,055 ETH. Edgeless Casino and æternity have not yet given any official comment.
Overall, it's the latest security setback for an ethereum project in recent days, following a hack on CoinDash in which $10 million was stolen in an ICO earlier this week.

Comments

Post a Comment

Popular posts from this blog

Bitcoin in Africa: Insights from the Continent’s Biggest Bitcoin Exchange

Isn’t it absurd that nearly 326 million people representing 80% of the adult population in Africa do not have access to bank accounts? This wretched situation denies countless of people financial freedom in the so-called dark continent. Bureaucratic tenors and economic exclusion inter alia have paved the way for the current phenomenon. Last year a study of 10 African nations with unusual inflationary ratio had South Sudan registering an unimaginable inflation rate of 295 percent. Egypt had the slightest with 12.30 percent. African governments continue to plunder the riches of the African people through Inflation. This makes it considerably insurmountable for individuals to conserve their resources. Moreover, public sector borrowing has crowded out the efficient private sector that can put credit to good use. The IMF estimates that averagely credit to the private sector is estimated at 30 percent of GDP in Sub-Sahara Africa. CCN spoke to Werner van Rooyen, Head of Business Develo...
Post a Comment
Read more

WANT TO BUY BITCOIN IN SOUTH AFRICA , KENYA, UGANDA, NIGERIA, GHANA OR OTHER COUNTRIES IN AFRICA? SIMPLE.

With the growing awareness around Africa of bitcoin as a crypto-currency, a means of remittance and a creator of  wealth, more and more people in more and more countries are looking to buy it, and asking how and where they can buy it. Purchasing bitcoin is simple. Simply go online and do a search for “Buying and selling bitcoin in South Africa ““Buying and selling bitcoin in Kenya “Buying and selling bitcoin in Uganda ““Buying and selling bitcoin in Nigeria “ or  “Buying and selling bitcoin in Ghana“ – you get the idea.   To help you though:   In South Africa, three of the most common (and trusted) platforms are: www.localbitcoins.com www.luno.com www.bitx.co In Kenya, the most common (and trusted) platforms) are: www.localbitcoins.com www.bitpesa.co whilst other platforms include: www.altcoins.io www.99bitcoins.com In Uganda, the most common (and trusted) platforms) are: www.localbitcoins.com www.bitpesa.co whilst other platforms incl...
Post a Comment
Read more

Ancient Egyptian Pharaohs related to Ugandans - DNA

This year, Ugandans have witnessed the use of DNA tests to settle prominent public cases in the media concerning the paternity of children and of celebrities who have died. What has not been known to many people is the dispute concerning the ethnicity of the ancient Egyptians by scholars in the 20th Century. This dispute has been solved scientifically by the DNA tests conducted on the mummies of the ancient Egyptians in 2012 and 2013. In December 2012, DNA tests were conducted on the mummies of Pharaoh Rameses III and his son, which proved that they belonged to human Y chromosome group E1b1a. This is the Y chromosome group of Sub Saharan Africans who speak Niger–Congo languages. The disclosed Y chromosome group of the Pharaoh, at the time of releasing the report, was considered as just one of the details to make the investigation scientifically solid with facts. But its revelation caused a stir equal to the purpose of the original forensic investigation. Another group of m...
Post a Comment
Read more