Bitcoin Forum

It seems they can't go more than a few months without getting hacked!


https://paritytech.io/blog/security-alert.html

Security Alert
7 November 2017
Severity: Critical

Product affected: Parity Wallet (multi-sig wallets)

Summary: A vulnerability in the Parity Wallet library contract of the standard multi-sig contract has been found.

 :o :o :o

https://www.reddit.com/r/ethereum/comments/7bcuhi/psa_critical_security_alert/

[–]rainydio 3 points 18 minutes ago
We really need better and safer languages than Solidity. With clear state transitions (like Bamboo), immutability, explicit access modifiers, etc.

It is getting ridiculous. So many articles were written about recent hack, yet noone spotted this problem.

PS: Viper default function visibility is public ...again



[–]alsomahler 0 points 6 minutes ago
The community seems to have a new choice. Allow the holders to have access to lost money again and get the investment into the ecosystem.... Or deny a fix for this resulting in 500k ETH destroyed.



-------------------------------------

DAO part II?

https://www.reddit.com/r/ethereum/comments/7bcuhi/psa_critical_security_alert/

[–]WWWWWWWWWWWWWWWWWW1 65 points an hour ago
The Parity team have officially lost all credibility, are they running their internal code reviews like a weekend hackathon? Millions more have been lost because of a lack of oversight, going forward the whole community need to just stay away from their products.

[–]Tarkedo 1 point 5 minutes ago
We cannot keep forking every time some major eth player leaves a bug in the code.

It's just not serious enough.

–]rainydio 3 points 21 minutes ago
We really need better and safer languages than Solidity. With clear state transitions (like Bamboo), immutability, explicit access modifiers, etc.

It is getting ridiculous. So many articles were written about recent hack, yet noone spotted this problem.

PS: Viper default function visibility is public ...again



Ethereum users calling for another fork? Now you'll have Ethereum, Ethereum Classic, Ethereum Classic Squared

All multisig wallets may be compromised!


https://www.reddit.com/r/ethereum/comments/7bcuhi/psa_critical_security_alert/


[–]sad555 8 points 2 hours ago
All the funds of MultiSig wallets seems to be frozen atm... What a f*cking disaster.

Yep, it appears pretty much all multisig wallets are screwed.

https://twitter.com/polkadotnetwork/status/927880762053021702

Parity was always weak. It looks great, it syncs fast, but it's not safe. I warned about how Parity for Bitcoin was a mistake too when a lot of people were exciting.

Ethereum is such a clusterfuck. The official client can't properly sync a full node anymore due the massive bloat on the blockchain, you can't properly download it.

Then if you want to use Parity, you are not getting the full blockchain and you aren't safe anyway as we can see with all these exploits. Full turin complete was always a mistake and we will see ETH have these problems forever.

How is it possible that there is so many security problems? How many coins/dollars have been lost?

Really bad...will see if and how much the price will drop..

What a slap to the face of Ethereum! We've all known how extremely vulnerable it was - people can blame Solidity but there is just so much wrong. The hacks keep coming, yet the holes take too long to plug up. This is a huge embarassment, especially after the forking has already initiated. What happened to better security?

And people are wondering what the fuss is when lesser developers take over Bitcoin to fork it. The need for extremely good developers with genius coding skills is not just a high barrier, it is a necessity in crypto.

Terrible news.

6 posts in a row :D looks like a wallet was hacked and not the ETH blockchain, If you could find a hack into the blockchain then it'd be interested for many people, Maybe they could do a hard fork and reverse all the transactions? :D

They might have to.

Disclosure: I'm have no love for Ethereum but people are going to get screwed here.

How to burn your ETH... Maybe one of the dev made it on purpose? Don't use Parity wallet!

http://www.trustnodes.com/2017/11/07/ethereums-parity-hacked-half-million-eth-frozen

A security vulnerability in Ethereum’s second most popular client, Parity, has been exploited by this address earlier today.

All Parity multi-sig wallets have been frozen. That includes the Polkadot ICO and may include many others totaling around 500,000 eth, worth $150 million, according to some number crunching.

I actually would like the price to dip a lot, opportunity to buy more :) All in all, bitcoin has had bugs as well in the past, it has survived and is more secure than ever. I believe same will happen to ETH as well.

They're debating hard-forking already...

https://www.reddit.com/r/ethereum/comments/7bdery/should_ethereum_hard_fork_to_save_the_parity/

Wow it has happened again?! Unbelievable. I've always been a fan of the concept behind ethereum but you can't have these kind of flaw in your system to be considered a major cryptocurrency. The reason people trust bitcoin is because it has never been hacked before and this trust has been essential for the recent growth that bitcoin has experience over the last year. Therefore I don't believe ethereum has what it takes to be cryptocurrency that's here to stay. The trust has been fractured way too many times. I'll pass.

Why people dont understand difference between Eth Client and Eth network. You cannot blame Eth for stupidity of Parity developers. If their code is not robust enough then its their own problem!

Back in July about the white hacker already saved a lot of the money from the evil hacker from the parity multi-sig wallet. and they must learn a lot from there. The case still on the analyzation by the parity developer. Why are so many people saving their amount in the unsafest wallet in the ethereum history?

That was actually true if you have no love to the ethereum but you are against the ethereum platform.

It's parity that's hacked, not ethereum. Still pretty bad..

Apparently the price will dwindle, but just still puzzled about why this keeps repeating itself consequently.

Parity is authored by Gavin Wood, a co-founder of Ethereum, that's not exactly some obscure 3rd party coding these things.

Also, I don't hate the ethereum platorm, the way it was launched is what is what is downright deceptive. If they want to relaunch without a premine I'd buy. Until then...

Do you think that the etherium will be hacked? Or is there any information on this? Maybe you are a hacker?

It's in the news:

https://techcrunch.com/2017/11/07/a-major-vulnerability-has-frozen-hundreds-of-millions-of-dollars-of-ethereum/?ncid=rss

Today is not a good news day for Ethereum. A  vulnerability found within a popular wallet has frozen potentially hundreds of millions of dollars of the crypto currency in a second setback in recent months.

Parity Technologies, the company behind widely-used wallet service Parity, today disclosed an issue that could enable the contents of a wallet to be wiped.

The issue affects multi-sig wallets — a technology that uses the consent of multiple parties for additional security on transactions — that were deployed after July 20. In other words, ICOs that were held since then may be impacted.

It’s a kicker because it is the second time in just a few months that a major Parity bug has been unearthed with potentially costly repercussions for Ethereum, which is the world’s second highest-valued crypto currency with a total market cap of over $27 billion. Back in July, a vulnerability in Parity led to 150,000 ETH (then worth around $30 million) being stolen.

as if not believing very bad security has been seen here.
the bad thing is when the ethereum gets hacked again.
really going to happen a price reduction that may be very drastic.
this will be seen in the next few hours when the price will fall.
no one thought that this would happen again

It is not ETH who got hacked, just the Parity wallet. They think that some wallets are locked. We still don't know which companies got their wallets locked.
Will Parity have to pay for the lost ETH or are they going bankrupt (or the companies who lost their funds)? Lots of people are against a fork of ETH which could save the wallets.
How can ETH grow in value with thoses kind of news?
Maybe it will be an opportunity to buy ETH at a very low price?

wasn't this faked?

If I am not mistaken this is a hack on a specific wallet. So people that dont have there money on Parity will not lose funds.

It means that all contracts in multisig, including ICO's, since July may be affected.

https://www.reddit.com/r/ethereum/comments/7bchez/parity_multisig_wallets_deployed_after_730_issue/?sort=new
[–]namko2000> 3 years account age. < 75 comment karma. 5 points 3 hours ago

All multisig wallets made since July relied on the library contract, the library contract was killed about 20 hours ago and now none of those wallets work.


We'll see.....it's all still very early.

So, we see the biggest bug-'n-exploit in cryptocurrency history, right?
And again it is ETH, right? But the ETH price barely moves down?

The main guy behind this coin can talk all day about other ICO's and what is wrong with them, right? But he stays silent on this, by his own choice, his own coin?

So how controlled is this weird scenario ETH? Like, are your big private investors being protected by forces hidden from 'the people'!? This is fishy and it stinks, badly! Uncontrolled markets are supposed to react to this. If cryptocurrency like ETH has already fallen to heavy manipulation and control we might as well stick with the 'Fed.

A healthy coin market would have reacted, this is very strange!

This will continue to recur as long as there is no reconfirmation when the transaction for example is 2FA, some people create malicious programs that guess the private key, if there is 2FA then the security level for the better.

Better stay away from that wallet, it's the second time a major bug affected substantial funds in addresses generated with that wallet, fool me once...

Will Ethereum fork again?

well thanks God :)

This is really heartbreaking to hear! The ICO campaigns which didn't use Parity are real lucky ones  :D :D

ethereum is not an official "shit-show". it is not even half a year from the last time it was hacked and millions of dollars were stolen by two different groups of hackers at the same time. and now this?

and nothing is possible with it anymore. the official client is now impossible to use. you can never sync it because it is super slow and the blockchain is gigantic. it is A LOT bigger than bitcoin's blockchain and it is growing 10 times faster. the parity is even worse with all these bugs it is now additionally weak!