$30 mln worth Ether stolen due to Parity Wallet breach


As much as 150,000 Ethers worth $30 million have been reported as stolen due to Parity Wallet breach. How did the company handle the situation?

20 July, AtoZForex One of the smart contract coding companies, Parity, has informed the public about a security alert. Parity representatives have issued a warning about the vulnerability in version 1.5 or later of its coding software. The data from Etherscan.io shows that so far, as much as 150,000 Ethers reported as stolen. The 150,000 ETH now account for approximately $30 million.

$30 mln worth Ether stolen due to Parity Wallet breach

As $30 mln Ether stolen from Parity Wallet breach, the coding company warns about its wallet software of version 1.5 or later. The company reported that the issue resulted from a bug in a specific multi-sig contract known as wallet.sol.

The information suggests that the firm has taken care of the issue. Yet, the data states that 377,000 ethers were potentially at risk of being impacted by the issue. Parity also reported that white hackers have recovered the ethers.

In addition, the firm has ranked the bug as “critical” in its public announcements. The coding firm is encouraging “any user with funds in a multi-sig wallet” to transfer their funds to a secure address. The founder and the CTO of Parity, Gavin Wood, has stated that at least three ether addresses have been compromised due to the bug. He has commented:

“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.”

Potentially compromised ether addresses

Industry experts on the social media have been observing the Parity issue, with some of them assessing the severity of the situation. Proof of Existence founder Manual Araoz has suggested that the compromised ether addresses could be owned by famous holders.

To be more specific, Mr. Araoz has highlighted Edgeless Casino, Swarm City, and æternity. These three initial coin offering projects based on Ethereum Blockchain have emerged just recently. He has stated that they are potentially compromised in the thefts.

In addition, Swarm City has confirmed the 44, 055 Ethers loss. Other two projects still did not provide any official information in regards to the Parity Wallet Breach.

Just this weekend, AtoZForex reported about another cryptocurrency hacker attack. We discussed Coindash hacking details along with official comments from Coindash representatives.

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