$32 Million Stolen by Hackers in Ethereum.

in ethereum •  7 years ago 

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A Parity Wallet Breach as announced by parity on the official blog : critical security alert
The development team was alerting all parity multi-sig contract users version 1.5 and later to send their funds to elsewhere to find some security as of the breach affects only multi-sig wallets all other users are safe.

On an other side of the story the same white hat hackers that worked on DAO hack, used the same flaw to secure more than 377k ether, and they will setup secure multi-sig wallets in order to refund all saved ether later on.

also not only users affected in this attack but other crypto projects like Swarm City confirmed they lost more that 44k ether in the breach also by the same company Edgeless Casico and Aeternity had fallen victim to the same hackers.

My personal opinion :

The only way to secure your funds is to store them in cold storage wallet, paper wallet and keep only a very small amount that you need to use on a daily basis on a hot wallet, clearly this is not security flaw in Ethereum it self but a breach in the way that parity developed this multi-sig contract. all we know that this is not the first time this happened and it will not be the last.

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