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Around 930k $ETH (~$280M) are locked because of the Parity bug. The new Parity multisig wallet has a bug that let someone accidentally nuke every single wallet to become not withdrawable. A hard fork might be required to fix the bug.

Edit: Here is the list of frozen addresses
https://gist.github.com/banteg/f61d256d12158b8c344d7889266f43b5

oh my god, this sounds really a bad news to ETH. I hope V.B can give a better solution for this other than hard fork.

Gavin Wood will put some pressure on Vitalik if there's no way out of this situation without a hardfork.
Ethereum and their developed programming language is so buggy and the attack surface is just huge!!
Even the simplest smart contracts can't be trusted as today's happening has proven. This wasn't even done on purpose! That was an accident!!
And it was the fix to the previous problem they had parity. That's just ridiculous!

There you go! When things finally seemed to be working smoothly for Ethereum , Parity decided to ruin the party  ::)
I am glad i am not a parity user and i really hope that they can solve this bug as soon as possible!
But i am sure that it will take some time before this issue can be completely solved.

Hmm the problems just keep on racking up for ethereum, I'm seeing a big dip sooner than I see a big rise to be honest.

It can be solved with next scheduled fork,biggest eth problem is Parity
https://www.coindesk.com/ethereum-client-bug-freezes-user-funds-fallout-remains-uncertain/

To be quote honest that is exactly what I am hoping for. It would allow me to load up my bags ;)

If a solution is not found then a hardfork will be necessary. I don't believe VB would let those ETHs get frozen forever, sure it would lower the total supply, and in theory drive the price higher. It would however be a massive hit to ETHs reputation and will surely alienate those investors affected by the parity bug. No matter how you look at it its a no-go situation.

This sounds terrible. I have seen even bigger numbers such as half a million of eth frozen on the client. How did this happen? There's no info on parity.io yet, but maybe it's not eth's fault after all? What if it's a problem with this wallets or even parity owners?
I can see this info on the cause of this issue: "it was possible to turn the Parity Wallet library contract into a regular multi-sig wallet and become an owner of it by calling the initWallet function". Moreover, it seems to have happened accidentally. Yet I do see that it is most likely that to unfreeze the assets eth needs to overcome another fork. Of course, there's always option to let that eth burn. We'll what what will be decided and by whom. I'm glad I sold my eth before all these hacks and bugs.

What would the consequences of a hard fork be though? Would it have an impact on users who didn't use Parity too, e.g. would it reset transactions in some way?

There wouldn't be any consequence for other users.

It would shatter the last traces of the ETH decentralization myth and possibly cause more damage to the market cap than these 300m$, which is what the king is considering right now, probably.

How can they selectively fix coins without having an imapct on others though? Couldn't they just screw with the blockchain for their own gain in the future with the same methods?

ParityTech bug affected ETH price. What's a coincedence. Having BTC 2X  fork in a veiw, Ether has an issue as well. My guess it's a happy chance for LTC show right now.

People lose funds everyday. I hope there's no hard fork as a solution to the Parity multi sig wallet issue. They shouldn't get to pick and choose who gets help after a situation like this. The funds affected by this would lower the current ETH in circulation anyway, so maybe that's a good thing in the long run?!

More and more bad informations about Ethereum sounds not good. I believe this is temporary and everything will be back to normal.

It is not a bug it is a feature. Lets spawn another Ethereum clone into the crypto universe. They are called shards, just  as your great leader proposed. In the end the entire universe exists of Ethereum  "bugfixes".

Is this why Etherdelta are having problems with loading their website? I find it hard to load now even if I got good internet service.
If there will be one then it better be okay or else many will be looking into another crypto.
Where is our ETH supporters? Any intelligence about this?

All of this has been really bad for ETH and we can see that from the price, I am holding out and hoping that they can resolve all of the issues without the need for a fork as that will only hurt the price further.

Lol. Hope it will not happen again))

Another good idea how to raise big money  ;D
Probably high time to sell it for BTC.

Is it valuable? Yes it is.
Is it still in development? Yes it is.
Will they repair mistakes? Yes they will

the price has done nothing. it's hard forked before, they might as well again if this money really is stuck. it forks to upgrade so they could add this to a scheduled fork. no one's hurt and everyone wins. it's nowhere near as offensive as the dao fork and that precedent has already been set.

I think yes, there must be Hard Fork to fix frozen ETH in Parity wallets - I heard was a newbie. Must be the very skilled newbie for sure and unlucky for Parity users.

Yes, today really sounded sad news. But, I think Vitalik Buterin will figure out how to solve this problem. And if you need a hard fork, then it will happen.

That is what I am thinking too. Since he can make ETH last this long I thought he could also make it straight.
But what about the frozen funds?
I heard they wont be back forever. How is he going to repay for those funds. It is millions of dollars worth.

You don't know what you are talking about. Bitcoin was specifically created with the vision of no control.

Ethereum goes directly against that vision and is nothing more than a modern version of a central bank. There will be no "flippening" for as long as there are people who understand why Bitcoin was created and who value true freedom over control.

I am interested in seeing how ETH handles this bug. ETH has a history of being buggy, I hope every ETH investor is paying close attention to this. Does anyone have any update? Is the $300mil still locked?/What really happened?

Wtf again! Its why we need tezos!!!!

Agree 100% with this comment. Adding it to a scheduled fork sounds quite sensible to me. And yes, price is still around $300 where it has been for ages now. I think there has been a lot of over-reaction, some really OTT comments out there on the web. It's not at all helpful or reasonable that people are saying it's the same as the DAO. Particularly that coindesk article titled "The DAO again?" I think they've added the question mark because it is quite obviously not a statement of fact.

Any official information from #ETH dev team?

Nothing yet, but the list of affected addresses has been released.

https://gist.github.com/banteg/f61d256d12158b8c344d7889266f43b5

This is the current news I am reading in every crypto group I am joined in. And yes, apparently, the only solution to this problem is another hard fork to free those locked accounts. This is bad for ETH but fortunately it is not yet reflecting on the price of etherium. Maybe every eth users is already used to the fact that every now and then bugs appear to eth and already used to eth hard forking.

There is still no official announcement on how they are approaching a solution, as they did a hard fork to bail out dao, it gets more easier to do a hard fork this time as they've already done it in the pass. I bet if the hard fork didn't happen before and did some other way around, maybe it wouldn't be so easy to decide to go for a fork again. 

I think that while it is not worth worrying about this, because Beverin has repeatedly argued that he is doing everything in favor of the community and not only. I believe that everything will be fine with ETH, and they will bring the matter to mind. I still try to buy the airwaves on his small drops for free money.

Another hardfork is looming on ethereum. I could they possibly recover this huge fund with having to upgrade. Things like this is unavoidable in a new growing technology. I hope ethereum will get better and handle such issue better Ib future.

Suggestion: hard fork because it only helps them and doesn't really hurt anyone else.

But some people will panic, so the price will drop. Buy more ETH. then watch the price go back up as people realize it was good thing. Just like ETH vs Classic.

I believe that this is very good if it does not do much harm to the fork itself, as against the background of the hard price the price is growing, and this is very good for making a good profit.

I hope a fork will not be happening, because of another bad coding or sercurity flaws in a smart contract. If this is decide, we will be seeing this too often which wont be good for the ethereum blockchain.
Goes to show how full decentralization is not always the best option as these issues can occur often.

Ethereum is kind of worth more than what people think because the smart contract can be also used for regular things.

No hard fork.  It was an ETH burn. 

Why do we even come about fork of a coin. Is it an agreement between the pioneer owner of the said coin and the developer of the fork

The disadvantages are of course, but I still look at ETH as a speculative element, and of course it is very beneficial for me to have a fork, but without consequences, since we already noticed that when the hard price increases the coin's price