Parity is the multisig wallet for Ethereum used by ICOs. It was already hacked before and many projects lost their funds.
Today this happened again. Polkadot ICO which raised 145 599 300 USD got hacked.
This were not all funds but there is bigger problem.
Due to this vulnerability loads of ICOs and people using the wallet cannot move funds! There literally millions worth of coins that cannot be used right now.
So hacker also cannot steal them now.
Will we see another fork after theDAO fiasco?
Time will tell.
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it gets more interesting, guy who did it was just learnign ETH.
if he pasted this commands in different way he would take the money but since he had no idea what hes doing he fucked up and made over 300 millions in many wallets stuck.
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I really hope they dont pull another bailout, people need to start taking responsability for their actions.
I am personally going to buy some more Ethereum CLASSIC!!
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That is friggin sad man. I hate seeing this happen ;(
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On the plus side, its better this kind of stuff is discovered earlier rather then later.
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I need help sir.....
Upvotes me & thanks.....
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good spot
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https://medium.com/web3foundation/web-3-multi-sig-wallet-update-245d30df0fb3
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hope all cryptocurrency wallets will be more protected.. and hackers will be unable to reach them.. none will lose their beloved currency..
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Its a travesty :D I had to meme-it.
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Is like Ethereum burn some coins, there is no way the guy didn't know anything about coding
Thanks for sharing
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That sucks.
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Well because of the cryptocurrency is not in regulation of the government so ur crime regarding this I don't think sir went well do anything all we know as this Internet currency will increases it also attract hackers to earn from there and if it is continue there also increases a value of Information Technology well every change also come with some negative points and some positive points but as time passes it find Its Solution
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We can only hope for the best :(
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!originalworks
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The @OriginalWorks bot has determined this post by @kingscrown to be original material and upvoted(1.5%) it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
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How do you think it will affect ETH? Last time when a major bug was found, ETH raised 2x.
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Nice ost
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Having is most the thread for finance related issues. But I think cryptocurrency can reduce hacking.
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sigh....
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Another great post....hacking is now a days biggest issue ...i have also lost my hard earned money .....so i am also victim of this abuse
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Oh my another hacking incident? that's it i am moving my ether somewhere else.
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That's unrelated. Parity is a wallet. Hacking a wallet is not the same as profiting from a vulnerability in some code put into the blockchain, which was what it happened in theDAO event.
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I avoid the ICO market like a plague. There is no reason to enter it. Too much downside.
There are some excellent coins coming to market I am sure. What I can tell you is they will be great deals after they have their ICO also. No need to enter an ICO to get a 100 or even 1000 times gain. There are plenty of them available out there.
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agree, the quantity of ICO's has now reached a peak, a lot of rubbish and to choose worthy projects you need to carefully study it and rely on the opinions of experts and experienced investors
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go ahead..
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good post.thanks for searing.
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So sad, hackers will get more and more concerned about crypto as this world continues to evolve. I don't even know if there are any punishments for trying to hack a cryptocurrencies wallet...
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Congratulations @kingscrown, this post is the third most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 312 and the total pending payments to posts in this category was $3871.50. To see the full list of highest paid posts across all accounts categories, click here.
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ouch such bad news
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Hey ,
Thanks for the great content
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uff yeah thats the danger in this space. sorry for all people who eventually lost money. thanks for posting
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This is not good. Hopefully better countermeasures will come out of this.
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like nd comment my post plz
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So lucky we had postponed our ICO due to security reservations. Sorry for the projects affected...
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Congratulations @kingscrown!
Your post was mentioned in the hit parade in the following category:
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I simply love your articles, what great content and quality of posting you offer the community here on Steemit and abroad.
Thanks a lot :)
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I know this may be a dumb question but is it worth investing in etherium? I am interested in getting inti cryptocurrency but not sure where to stary when it comes to etherium. I have most looked into bitcoin and bitconnect but haven't made any steps in any direction due to lack of funds for now.
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how could so much ETH be touched by programmers that are not familiar with the algorithms? It is like asking a chef to do a heart surgery. Do not think anyone can make a safe proof program where mistakes will have no consequences. This sounds more like human error rather than a flaw in the software.
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from this is not insured by any ICO
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