‘Accidentally Killed It’: Parity Grapples With $280 Mln Locked ETH

7. November 2017.

‘Accidentally Killed It’: Parity Grapples With $280 Mln Locked ETH

A user of Ethereum’s Parity wallet “accidentally” quarantined funds worth $280 mln, revealing further vulnerabilities in the platform.

Parity, which has suffered teething problems since its launch by former Ethereum co-founder Gavin Wood, is still trying to regain access to the “frozen” ETH.

“… A user suicided the library-turned-into-wallet, wiping out the library code which in turn rendered all multi-sig contracts unusable since their logic (any state-modifying function) was inside the library,” a security alert from Parity read Tuesday.

In short, the codebase for accessing Parity multi-sig wallets is currently deleted, rendering funds out of reach.

As the user responsible, known as devops199 described it on GitHub in a help request, they “accidentally killed it.”

Parity is currently seeking to calm users in what has ironically turned multi-sig security into a liability for multiple Parity business and private users.

“We are working on confirming the exact details and will inform the community as soon as we have them,” the latest Twitter update from the wallet confirms.

We are working on confirming the exact details and will inform the community as soon as we have them.

— Parity Technologies (@ParityTech) November 7, 2017

In July, an initial vulnerability saw a significant hack at Parity, with the aftermath seeing white hat hackers intentionally drain wallets in order to protect user funds from potential future theft.

That episode cost the project around $30 mln.

Published at Wed, 08 Nov 2017 10:49:36 +0000

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