Ethereum’s Parity Client Users Lose Millions in a Multi-Sig Hack – Bitcoin News

from news.bitcoin.com – On July 19 the ethereum community was warned that the Parity client version 1.5 and above contained a critical vulnerability in the multi-signature wallet feature. Further, a group of multi-signature “black hat exploiters” has managed to drain 150,000 ether from multi-sig wallets and ICO projects.

Ethereum’s Parity Client Users Lose Millions in a Multi-Sig HackAccording to the company Parity and the firm’s founder Gavin Wood, the startup’s product the Parity wallet version 1.5 and above contained a bug that enabled the theft of $30 million worth of ETH. The vulnerability discovered in these specific Parity wallets used a multi-signature contract called “wallet.sol” and the contract was utilized by a few initial coin offerings (ICO) as well. Circulating reports believe that three particular ICO projects were compromised including Swarm City, æternity, and Edgeless Casino.

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The Parity startup had issued a security warning on its website on July 19 detailing the extent of the issue stating;

A vulnerability in Parity Wallet’s variant of the standard multi-sig contract has been found — Immediately move assets contained in the multi-sig wallet to a secure address.

read more – https://news.bitcoin.com/ethereums-parity-client-users-lose-millions-multi-sig-hack/

Ethereum’s Parity Client Users Lose Millions in a Multi-Sig Hack – Bitcoin News

So far a group of multi-signature “black hat exploiters” has managed to drain 150,000 ether from multi-sig wallets and ICO projects.

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Paul Gordon is the publisher and editor of iState.TV. He has published and edited newspapers, poetry magazines and online weekly magazines.
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