Bitcoin Forum

I was wondering why Ethereum was trending on Twitter.

This article explains the bad news for some Ethereum holders  https://www.cryptpool.net/ethereum-wallet-vulnerability/

Yeah I read it seems like some newb killed the library or something that the multi-sig wallets rely on. 1 million ETH frozen for good.

Lol holy %&$*& that is a lot of cheddar being stuck! What is the resolution to this then, another fork? Oh god if I thought I hated ICOs I may just hate these forks even more....its close :D

Seems like it yes

 :o :o daaamn , what happend ? This will get ethereum to drop so hard in the next days/weeks , time to move to ethereum classic I guess :)). If this is for real then all the ethereum holders will have to suffer from that mistake.

Since only Parity was affected I guess king Vitalik won't bail them out. This is way bigger than the DAO though. The fallout will be real, wait till this gets into the common knowledge.

Definitively frozen ? I thought it was repairable. How such a easy bug from random address can do this damage... When you talk about bug in softwares it's something, but in crypto damn it s a bit lost of money.

A newb turned a smart contract into a multi-sig wallet, declared ownership and suicided it destroying the library that multi-sig wallets depend on making all the ETH frozen for good.

And with newb I mean; yes, litterally a newb. Apparantly he isn't quite aware of what he did and I think he's scared because he basically just burned like 500k-800k Ethereum (100-300 million USD)

This doesn't affect myetherwallet, does it?
I think the issue will be resolved as soon as possible, but then its impact and people's trust will go very low.
E
Can ethereum classic do the same things that ethereum does - the smart contracts and all that...?

This is pretty hilarious really, surely there should have been a backup somehow designed in, pretty gutted for the loss of coin though, who did these belong to?

https://etherscan.io/address/0xae7168deb525862f4fee37d987a971b385b96952\

If you look at the internal transaction history of the TX you can see: kill() and other commands so its pretty obvious he was trying to do something. Someone said but can't confirm if thats what devops199 himself said that he was trying to recreate the july hack to investigate how they did it or something.

Another problem with eth. It's time to look closely to Waves

Sounds like a movie with a stupid red button.

Why should ethereum classic be better than ethereum?

Same technology, same mistakes.

Although this happened to Parity, this affects the whole Ethereum ecosystem. I would not be surprised if people start getting irritated with it given there have been some very high-profile attacks against the network. We may see a preferred Ethereum alternative emerge down the road, most likely Waves or Qtum. Sorry to all those hit by this.

If you read through his posts, he is absolutely not a newb. It's someone from the Bitcoin community that studied and exploited the vulnerability. His trolling about Ethereum's lack of immutability makes it obvious.

To be honest, I stopped trusting the Parity wallet months ago due to their history of bad testing and buggy code. Trusting their multi-sig contract would have been crazy; anyone using it didn't do their due diligence.

It seems like the number of users affected is likely low, although a couple ICOs will be crushed by this. I don't think we can expect a hard fork in this case. I hope that this experience teaches people to stop trusting smart contracts in these early stages. The core protocol is sound, but it's simply too easy at this point to publish bad contracts where major losses will occur.

Maybe the dev who made the mistake just had enough dump from ICO so just turned all of those in to permanent hodlers.  :D the serious question is how are they going to fix this. hope it won't be a hard fork.

In regards to everyone saying ETH is going to dive because of this, how so. The coins were not stolen from my understanding, so they wont be sold they are just lost. So it should really bring the value up, unless people are afraid of this for some reason

If Ethereum is forked to fix the second Parity oversight, its a sign that Ethereum’s governance is broken

If a central bank suddenly had many millions of their dollars disappear, people wouldn't suddenly be happy and certainly the value of their currency would not increase, people are fearful that such a thing can happen again. Same with ETH.

Again ETH got attacked and it also affected so many users and this time it is not hack but it killed the system and blocked it. What will be resolution and how can we find that who are all affected.

Bringing FUD to ETH won't drive the price up. Doesn't matter if the coins are not stolen. Bad news are bad news and people will react to it.

Well, I hope there would be a resolution on this matter. Eth has many supports and many invest in this coin. So, I think even there is FUD about eth price would be recover.

I saw a chart the other day that has ethereum vs. cybermiles token. Very interesting read: https://medium.com/cybermiles/cmt-vs-eth-c7eea2b03632

There are too many vulnerabilities with the current platform.

Permanently frozen funds? Scary that this kind of weak fault existed.

Wow. Almost 1000k Ethereum frozen possible forever. I wonder if the Ethereum foundation will hard fork to unfreeze the funds or not... Seems like it could create a precedent for incompetence in the future...

Is Bitcoin multi-signature potentially at risk? a hard fork could restore the funds, it wasn't stolen just crappy development.

Considering these funds represent approximately 3 times as much value in US dollars then the DAO did if this doesn't drop the value of ETH back to 6 dollars investors are just stupid.

There is a reason that coins like bitcoin, litecoin and others are not turing complete. You just can't have codeable contracts integrated into something of value, unless you're comfortable with the possibility of losing your entire investment every now and again.

My only concern is that Parity, the wallet company that was hacked is owned by Gavin Wood.  He's a cofounder of Ethereum and good friends with Vitalik.  If they choose to fork ETH again in order to save these funds, then it's going to really hurt both the platform and their individual credibility.

Gosh, this is scary. Do they have any backup on it? It's another problem with eth. I hope it will not be frozen for months and months.

Is there any way to find out if specific wallets are affected?  I want to know if any ICO got hit

how can one delete this? if you know what it is?

all that money... what would i do with it.  ;D

but how will that affect it in the future?

I'm just learning of the news. I am shocked that Ethereum has not fallen more than a few percent today. I would expect it to drop tens of percentage points on such news. Maybe because so many funds are locked up..

I expected people to freak out also but the reality is that it was a failure in parity, a wallet, and not ethereum.

The fundamentals of ether have not changed and a wallet hack could easily occur in a bitcoin wallet as well, but that wouldn't reflect an underlying deficiency/weakness in bitcoin itself.

The title is a bit extreme no? Killed Ethereum, really??
BTW Ethereum isn't reacting too bad at the moment. -3.6% on Polo.. Maybe because so many ETH are frozen..?
We'll see in the next few hours/days.

Good time for those who are developing LISK, they solved all the problems with ethereum and are releasing the SDK in a few months time. Time for ETH developers to move over to javascript!

Breaking the password of those wallets doesn't mean you break ethereum chain. They're different actions and people should see that wallets are vulnerable to hacking attempst, but the blockchain of ethereum is not.

I remember parity wallet fund hack, this summer...

I agree. The title is too far-fetched. This is not even an isolated news. Ethereum has been a victim of hacking several times in the past. There is actually nothing new to this. Several hundreds of millions of dollars have already been siphoned off from Ethereum projects before. But I guess this particular case will be ironed out well in the next few days. Parity will be looking for the best way to end this fiasco well.

"I'm Eth newbie.. Just Learning"  how can he said he just start to learning ? what can we do so far on ETH ? nothing, just a normal user who want's get profit from this coin.
awesome.

I think that it will drop more once the news spreads.

It will drop especially more as the talks of a roll back and fork al la The DAO continue.

I don't think the market realizes yet that a hard fork and rollback is the only way to unlock the $120 million worth of ETH.

Roughly 1% of all ETH (depending on source) are permanently frozen. 

I agree with you, do not ever be afraid of Ethereal and do not worry this kind of problem might be overcome, better think about how to secure our money from this problem, so that nothing will happen the same thing.

Can't really tell if this is good or bad lol.

People actually mine Eth mate, with Lisk only the whales with the largest balances are forging, Lisk is centralized because of a bad mining mechanism.

I had to see it first hand experience, try to make a better comparison, Eth is nothing like Lisk.

They should hard fork, why would such a hard fork hurt Eth? couldn't miners reverse those transactions or double spend them while the entire network

Validates the new transactions?

I agree, it's still only on the more obscure news sites. By tomorrow it will be on CNN and other more mainstream news providers.

Second strike for Parity.

Fyi, i dont think hes a newbie

Newbie = someone like me
Who don't even know how to execute codes and etc

IMO, he trying to try out integrity of code and also exploit of code

How crazy.  I'm a big fan of Ethereum and thankfully didn't have any holdings in parity, but man, it is hard to believe a newb could destroy $100s of millions just while experimenting with some code.  

That is bad news and I feel bad for those folks. I'm seeing on other articles it is frozen for good and what is lost is lost. Ouch!

Well you're not a newb if you can execute these "kill" transaction things. And to think he knew how much these can cost, IT'S A "I'm A cOoL KiD. I kNoW hOw tO sPrEaD FuD oN tHe InTeRnEt" kind of things.

I don't think it can entirely kill the ethereum. Lol what doesn't kill you makes you STRONGER should apply to ETHEREUM HARDFORKS AS WELL NOT JUST BITCOIN FORKS RIGHT?

Well all is well. Lets see how this things progresses.

This news is from whales, i guess. They just want take ETH down to 200$ to collect more coin. Dont sell you ETH now. Their dev may fix this and make ETH price up.

Is ETH going to crash on this news? I was going to make some sales today but with this fuck up not sure.

Hopefully the Ethereum community will learn from this and improve the entire platform. Incidents like this, while isolated to a particular company really hurt the whole platform.

Yep eth will crash on this.

Essentially they need to figure out how to securely make their codeing.

There will be a dead cat bounce....I suppose.

In some ways I don't see a problem with a roll back, as it returns a status quo and eth codebase is a development in progress, so its to be expected there will be issues along the the way.

Its hard to argue that this not a straight out error that needs to be addressed, and who loses by a consensus to fix this....

a wet are consnesus it ok

in fact every time BTC upgrades (or down grades) or forks, you are getting a wetware consensus.

the normies and certain purists will freak out about this but meh........

I guess this reinforces btc a reserve currency.

if this was a lib by parity (Parity’s “multi-signature wallet”) then its parities problem...I am not across this enough to know

Can someone ELI5 what really happened from technical perspective?

Pack up guys, we're forking. I wonder what Vitalik has to say about such a shocking "accident". The market though, it's pretty strong despite the permanent loss so it could be a good thing?

Is there a resource I can read about Parity? As far as I understood it uses multisig wallet to authorize all my withdrowals (i.e. 3d party, in this case parity, have to sign my transaction, so they provide me a token that I use to generate signature). And somehow they have lost their signature, so everyone who held theit funds now stuck without possible resolution?

Only a fork can fix this.
And how the whale will push the price down to $200, as they have funds locked ? ;D

It seems a very big vulnerability if a newbie can very easy freeze 100 mil just like that. What will stop another user or a group who wants to bring eth down to exploit this. The credibility of ethereum will go down even if only users of parity were affected. This isn`t only bad news because it will create e eviroment were other blockchains can prove themself. A market with a strong competition is a good one.
I think eth will go down in the following week close to  220 dolars

That's the end game for Ethereum if they can't fix the issue as soon as possible because when investors found out some vulnerabilities then they start to sell away their coins and instead use other wallets as well.
If wallets will be compromised then people will drop their investments as well.

Bad news for ethereum holders on (PARITY)

Rather than try to give a misunderstanding about everyone in here you must try to readh all of the words in the article. The vulnerability has found in the parity and there is no relationwhip with ethereum itself.
If you are try to spreading FUD and you may try a better word rather than it.

This time a lot of people are smart that tan before. Those are still keeping their money on the wallet that has a lot of problem was very amateur. There is a lot of awareness about that.

I have been shouting my lungs out to my friends to buy etherium classic. That is the real deal people, the original etherium! If it was not to buy tokens from ICO's I would not have owned a single ETH myself.

well its really making some moves and since its the first eth so dev will do everything in order to create a big growth with this system
better to hold some more etc and be glad after, good luck

Eth is shit and full of bugs, it repeat occurring again and again. When we think about it, Bitcoin is solid and the reason it's number one.

thanks for this im buring all my eth right now,better than to say sorry. 8)

This event will once again raise the question of security within ethereum platform. Whatever is written in the code that allow this kind of mistake should not have happened in the first place. Hope parity solve their problems with multi sig.

I'm just wonder how many bugs contain other platforms which are trying to become ethereum killers.

Certainly a lot of money locked up in this, the biggest so far and not the first time Parity has had issues, even though this isn't directly linked to ETH being at fault, it will look this way to the average onlooker when they read stories about this.

i hope everybody who lost money in the parity events did not depend on that money for food or shelter. Now that being said let's have a laugh so we can relax a bit while we find for a solution.
https://www.captiongenerator.com/764622/Interview-with-Tim-M-Zagar-about-Parity-wallets#.WgLP0zMeyA0.facebook

Easy to laugh when you weren't there invested money. The people in the Ethereum have invested many thousands of dollars. I never trust aliminum. I can mine some coins but I immediately exchanged for bitcoin. I think that someday the entire capital invested in altcoins will enter service in bitcoin.

So, if Ethereum pushes the fix at the Constantinople hard fork what does it mean? Will any mistake that people make because they do not know how to write smart contracts be reversible by doing a hard fork? Should we just have 1,000 hard forks per year to solve bad design and programming? And where do you draw the line ... is it when more than $100M is affected? Maybe $1M? $1000? People need to realize that blockchain has numerous advantages BUT it has its trade-offs, it acts as a "universal truth" and  (well, at least truth that those thousands of nodes agree on) and everything you build needs to be error-prone similar to a nuclear reactor or pacemaker software.

At the same time, $150M-$300M affected with this mistake can be "too big to fail" for Ethereum's public image if they do not fix it. It could as well be presented as the "flaw" of blockchain itself by media around the world. It could bring fear to anyone else trying to build projects on top of the Ethereum. It could drive the ETH price waaaaay down.

So, what do you guys think should be done in this case? How should Ethereum solve this multi-sig wallets that just turned into multi-HODL wallets?  ;D

Easy there, a laugh can heal the burn :) i was invested in ICN (moast of my activity here it's on iconomi topics), and iconomi assured the investors that the ETH funds are not held in Parity wallets anymore. Just imagine my frustration after reading the news and feeling safe and just seconds after, seeing my investment went 20% down after already a huge downfall. i'm down almost half a paycheck just on this one unfortunate event.

"I think that someday the entire capital invested in altcoins will enter service in bitcoin." This is becoming very plausible if the bitcoin community would stop the forkings

Here's the full story.
Just bad luck.He destroyed 160 mil USD worth ETH that belongs to POLKADOT ICO ;D

https://www.youtube.com/watch?v=ItN55wM7azQ&t=94s

The Ethereum bug is bad news for the ENTIRE Ethereum network. Not just ETH, but all tokens running on Ethereum. 
Just how bad though?

I think it's not a good enough reason for all ETH holders to panic or sell cheap.. It's an issue with Parity wallet and the ethereum network. As long as the eth is frozen and can be recovered, I think we should be good to go BAU

How bad ? Gavin Wood designed the Ethereum scripting language Solidity, and is Founder of Parity. If their language architect can leave huge holes like this, what are the odds that all the other smart contracts out there are 100% secure?

a bug is a fatal error if it happens in the crypto world, because the asset (virtual money) is just a number can not be grasped by hand and is very sensiitive

Loss of coin will adversely affect consumer sustainability

I totally agree, I guess all other smart contracts out there will have to be 100x more cautious and prevent something like this happening again.

dont belive those news

lol. is that real? can't believe how he can do that. a big company like this must have some plan to make sure this happen. maybe just a fake news

Skeptical until confirmed. Bugs will be addressed and fixed. Like everything in world. Don't worry.

the headline of the topic has nothing to do with the news itself... its bad only for parity wallet holders and i believe it will be fixed soon

Let's see where this is going...

I can't believe that this is possible. I think people should be able to fix this.

Just..  :o

source: Devops199 twitter https://twitter.com/devops199/status/927919624875905025 (https://twitter.com/devops199/status/927919624875905025)

Ethereum is a great concept and definitely will have a lot of value in future.
But it looks likes it is not suitable for production yet when dealing with hundred of millions involved.
It should be continuously tested in testnet first.

Not sure why you find it hard to believe. Ethereum is Turing complete and ETH is a public blockchain. That means anyone (amateurs, incompetent coders and hackers) can run code on the system anytime they want, even unvetted insecure code. Will happen over and over again.

Article is also made people by mistake. Article is not always right. If etherium trending in twitter, means twitter user believe in etherium development in future. Just stay tune what will happen in future.

It is a sad news that it has to be like this. A curious developer with just one mistake and such a huge impact. I hope they do something about this fast. The founder proposed an EIP to reclaim our accounts but stilll it needs a hard fork to activate it. Now we turn to hard fork to overcome bad programming. How many hard fork has there been and how many hard forks to come? This is just becoming frustrating.

According to paritytech.io it's the second time a multi-sig issue is find since July!

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

"We are analysing the situation and will release an update with further details shortly."

ETH price itself don't move right now, weird. Any news I missed?

I think that this is not true, because. Beginners also have the right to broadcasts and everything else ..

Yup, it only affects the parity wallets. Eth in general is still safe. However, i really hope i do not see the re-happening with the eth classic fork again. Eth is a great project, however, such an issue still happen from time to time, and it will create more FUD for eth.

maybe this is part of a process that is indeed made to increase the price that will be on etherium, because I myself often resemble such news but in the end still there is no problem to worry about.

The ethereum price gets a little impact due to the parity vulnerability but this time the price already recovered because that was not a problem from the ethereum but the parity dev can't build the wallet properly. This why a lot of the new competitor or ico project try to build the more safe wallet just like eidoo. There is no news right now. but just waiting for the parity dev's explanation regarding it. It's the parity fault and that doesn't make sense to say about the next hardfork for ethereum.

ETH is a minefield with bad script language.

Vitalik is trying to reinvent the wheel of crypto, i respect his work but that's not going to happen.

He should have build his smart contract platform on Bitcoins Blockchain.

Rootstock and Simplicity took that opportunity.

I starting to worry about the ethereum developer, two major bugs has happened to ethereum, from the source code bug and now the source code vulnerability, its cost a massive amount of money, with the recent bug I hope ethereum developer will be more careful and strict to review the code.

+3% in 24h. Looks really dead to me.

This bit is a little funny honestly, even the small conversation on the link OP provided. I guess will see in the few weeks how this would affect the price, seems that it's currently not affecting it or maybe that's just because not a lot of people knows about this.

This is the craziest shit ever

I thought this news is just a part of FUD! This is why i told previously that Eth will never beat BTC as the king of Cryptos! ;)

How come "a backup"? This is a nature of contracts! You make a contract and there is no backing down. Whatever behaviour is coded, it  must be executed (followed). Restoring a backup whould mean backing down from the contract.

Actually the previous hard fork  (restoring the DAO money) was backing down from THAT contract and this is why it was so much disconsented and eventually resulted in the creation of the Classic.

I am also wondering about that. What will happen after this?
Whoever got hit by it must be really mad right and will be doing steps to make ETH developers pay.
They say it is stuck forever so maybe there will be no solution to bring it back even after a hard fork.

And this is the biggest mistake to me at present: the prices of both the Classic and ETH seem not impacted by the news. They should be (in my book).

Leeeroy Jenkins...

hahaha i dont believe that :)

A newbie wouldn't have been capable of doing this. The guy most likely knew what he was doing. In either case, only Parity was affected, so this is pretty much completely irrelevant to Ethereum as a whole.

Parity needs to get their stuff together, honestly, first this thing about two months ago with the stolen funds and now this, and the problem has been present since July and no one noticed.. it's crazy that it has such a huge market share. People just need to move their money out of Parity cause it obviously doesn't give a damn about security, their market share is way too big in the Ethereum network and they'll make everyone a favor if they just announce that they won't be opening new accounts anymore, and ask users to transfer their funds in another provider.

Ethereum is having some major troubles and needs to iron these out. It has such promise, but with ICO scams, this, the fork with ETC....the history of the coin is littered with negative horror stories.

this is not the first hacking event for ethereum, this is a second hacking
Ethereum needs to solve this problem. This is really important for the future of ethereum

Honestly people should just be forced to take the loss at this point. There's no reason to trust a platform that has already failed once with any amount of money, especially if it's supposed to be irreversible like in the case of the blockchain. If people don't get hurt by their mistakes and lack of foresight they will never learn...

And platforms like Parity will never improve either, since they don't really have to apparently.

There are many bugs in Ethereum and developers should try to improve this situation. At present, the price of ETH does not change much but if this situation continues, many big investors will come back to BTC.

You're probably right. The fact that ETH represents a system that any amateur, incompetent programmer or hacker can insert executable code into shouldn't matter to anyone.  ::)

I wonder what will happen to that person. Does he need to pay 500K ETH? haha
Its really a bad news. It just shows how a small vulnerability can turn out to something disastrous.

That's not what I've said at all. I've said that the person who did this probably knew very well what they were doing and wasn't some "random newbie" at all. And I've also said that Parity is not Ethereum itself, so if Parity fucks up it doesn't matter for Ethereum.
Which is basically the complete opposite of what you've taken from my post, unless you were being sarcastic and it went over my head...

Dont think the author has enough knowledge to conclude and write that shit. What is said in the post has no valid basis. For sure wise eth holders just make hard laugh after reading it.

the real problem is about people writing smart contract without knowing what they are doing, it's the second time now  ::)

So does this mean the total circulating volume should be deacreased and boost market cap?

I mean, one can hope, right?

Ethereum is currently closest to Bitcoin from all other Crypto. They have grown up and I can not imagine something going on for the next few weeks.

Do you believe it is just e temporary situation and it will be restored?  ??? ??? ??? ???

Wait a second, so how is it even possible that a n00b did this without having some "supervisor" or consensus approval for something this serious - it's just that open-source or what??

ETH will dump

I don't know, but this event doesn't bring anything good for Ethereum

It should be able to be retrieved, but then that would completely make the credibility of a "permanent locking smart contract" pointless...

Wow a $150 million dollar bug. Ouch. Shows how high the stakes are when coding for cryptocurrency technologies.

Yeah, you'd think they'd have some kind of QA or bug bounties so as to
not screw over everyone who uses their wallet. Crazy.

Umm what? If this incident froze 100 - 300 million for good, it´s a severe blow for Ethereum´s credibility. Who is going to invest in a crypto where this kind of stuff happens?

I daresay it´s even worse than some hacker stealings coins from an exchange

If ETH was supposed to be dumped as a result of this it would have dumped the moments news got out.

Sure it may have been a blow to the credibility of ETH, but this can be recovered if the right steps are taken. There is no software without bugs, what shows the dedication and skill of the team is how these bugs are resolved.

We shall see what happens, even if a fork is upcoming, I honestly doubt that we will see a dump. Just look what a few forks did to bitcoin.

I was expecting a bigger drop in ETH price after news broke, but it has been pretty stable.
(I also doubt the whole "I'm a newbie theory").

Holy Cow! How is something like this even possible? Thought the whole point was so no one can itnerefere?

Ethereum won't die because of this, it will correct itself and potentially another fork is under-way. Now, i'm not expert when it comes to the base of Ethereum's code, so correct me if i'm wrong.

But from a market perspective, this along with segwit's cancellation is adding to Bitcoin's value, but it will not last long. Ethereum may dissipate a bit on the markets, but i suspect a big rebound is incoming sooon, since it has a lot of catching up to Bitcoin's huge valuation at this point.

There really is no reason for ETH to drop since the problem wasn't with the Ethereum blockchain but with Parity. Why would the market care about people who deposited funds with a service that has already failed once in the past?

The weak reaction is a pretty good sign though. Means the Ethereum market has matured quite a bit since the last fiasco.

In recent times, Ethereum has developed well. I am not convinced that in the next few months something will be able to suppress them. With strong coins only Waves are able to approach in any degree.

I'm sure there'll be more serious competitors in the future, which is good for all of us.

Waves really does seem like one of the obvious candidates though, especially with the recent announcements which should shift Waves into a bull market quite soon.

It seems there is also quite a lot of effort put into ETC at the moment. At the upcoming conference they could strength their position

Not sure where this noob idea sprouted from. devops199 is not a noob. It was a bug in the Parity multi-sig code that allocated the 1000 ETH to his account. When he removed his contract code, instead of returning the ETH to their original holders, it locked them up with no way to recover them, bar a hard fork similar to the post DAO classic split.

Question is, will there be a hardfork, and what will the medium term effect on price be?

I have an etherium: (let's hope that because of this error, it will not fall much

Well, at least for now, it doesn't seem to be impacting. price is going up, not down.

This is the most epic story about crypto currencies!

this may be something we do not want but I am sure this problem will soon be solved by the concerned because it will cause unfavorable impact for altcoin eth as well as others

If a person who doesn’t know what they’re doing triggered this, than this spells a failure at creation to avoid a problem that a client could trip over unnecessarily. There should have been a way devised to avoid pitfalls for new clients. The entire concept of this type of marketplace is filled with so many pitfalls which have no place of even existing in a place of business. I’m predicting many new upcoming ICO’s will profit from fixing such holes and flawed design in the future.

The question is how many other Ethereum contracts are vulnerable this this command (kill).
Is it possible to audit all the ETH contracts to make an idea?

The issue arose from a bug created when the Parity wallet team "fixed" a previous bug that had resulted in the loss of $32mm, inadvertently leaving a secondary flaw that accidentally left devops199 as the sole holder of all the multi-sig accounts using Parity. devops199 didn't cause it, the Parity dev team caused it with sloppy coding and QA, devops199 just triggered what would have been triggered by the next multi-sig contract deployed via Parity. Lesson for all ETH holders is...use the official wallets, not 3rd party ones.

yes people fear about that kind of things. the more eth on market might be a serious problem to the value of eth. but i still trust eth will working on it somehow

no its not bigger. DAO was 15% of supply in control of a hacker. that's a systemic risk.
this is <1% of supply being frozen/burned. not a systemic risk. if anything will be done it will just be included in the next planned fork.

parity has lost all credibility in my book.

I think this will cause the price of ethereum to be stagnant and the price of bitcoin will increase. I don't understand why that can happen but remember we are in the world of cryptocurrency.
This sort of thing happens very often.

cybermiles posted a chart of how their [Suspicious link removed]pares to ethereum: https://medium.com/cybermiles/cmt-vs-eth-c7eea2b03632

Dayli, many airdrop coin born by newbie. that coins run on etherreum platform. and almost is trash coins. It is polluting the ecosystem etherreum

Are you kidding me? this is not a good place to advertise your project. Many project tried to claim to be the competitor of ethereum or even better just likie tezos and eos. But they are all fail.
Even qtum that already released their blockchain and what about cibershit? That was nothing rather than ethereum grabber.
Please compare your platform to the neo or qtum. if that was better than both and you can try to compare it with ether.  :D :D :D :D

Well it looks like that new was already forgotten because the price has been going up and stable the last few hours! ??? Anyway, I really hope this gets fixed asap

what's the verdict? hardfork?

I'm 99% positive they'll hard fork.  No way Gavin Wood will just give up $92 million with a shrug of the shoulders.

That is totally LOL, just millions of dollar got away... thats a big damage but maybe not the end so don't know what will happen high risk high reward and high risk means maybe loss so be aware and be careful good night and day  8)
But it is not nice when markets get crushed away

Hardfork would be a big blow to Ethereum reputation. Not going to happen. Vitalik has a choice between Ethereum credibility and Gav, he will select ETH, I am sure. Gav has no control over decisions in regards of platform anymore.

I don't think much attention should be put on these, there are still like two more hard forks to happen on ethereum and expect this to be fixed, but this just shows how vulnerable the whole platform is, if care is not taken these vulnerabilities might be the end of the whole platform because trust is being lost gradually

$100 of millions this is big amount of money that frozen. That’s pity that Ethereum losing his fans. Despite of ETH price rised, it show serious technical problems. Some web-projects openly criticizing ETH system.
Fortunately this fault didn’t touch my money!

Every single program code has many bugs. What can we say about the whole ethereum or parity platforms. Plus this is human factor which is usually much more harmful than system bugs.

Because of this I sold my ether yesterday and stay away from my beloved ether until they give out a solution. I expect a hardfork too.

So many bugs and hacks with ethereum in general, it seems to have a huge attack surface.
Kind of unbelievable the marketcap ethereum is at now.

That's very strange that it happened so. They should've been fixed this in the beginning. Now may will face problems with their money.

That's not bad for his biography. Not many people in the world have the power of destroying 300 million dollars at will. He'll end up in the Guinness of Records.

you have fallen victim to FUD, and can now buy back at higher price.

no way that there will be an emergency hardfork. If anything it will just be included in the next planned upgrade after discussion. there is no systemic risk calling for drastic measures, unlike with the DAO with 15% supply in the hands of a hacker. This is just 1% locked up.

Yes it is true, it turns out that not only Bitcoin ever burglarized, Ethereum was also the same fate, this obviously can destroy their value in the market.

There is something deeply wrong out there if something like that can actually happen. You cannot just have a system where you can lose 300 million $ because a Newbie is messing around on some code. Tomorrow you could have another Newbie sneezing and a few billions again would disappear from somebody's pockets.

This shows that it is way too easy for a massive failure to occur. There need to be some sort of checks and balances. 

Yeah, that was quiet funny!

Although I wouldn't like to be in their shoes right now!!!  :o

ETH is not really affected much by this, but some of the other tokens who have kept their ICO funds in Parity wallets might be quite in a bad situation right now. Although people seem not to care much as everything is in green today, but let's see. Of course everyone hopes it will be fixed by the next upgrade... but we can't be 100% certain, can we.

Any new info from Parity on this, though? Are there any other ways to fix it besides a fork?

Yes, I have read about it. Moreover, it seems that soon we will see great changes with ETH. The father of this cryptocurrency wants to create a deficit of this altcoin.
Vitalik Buterin said that he is thinking about limiting the emission of Ethereum.  8)
To the moon!

Ethereumnot realy work

https://image.ibb.co/gpYNYG/image.png

This is not the first time such an incident has happened. This has been indicated same as that of the MtGox issue that happened with bitcoin years back. With ethereum the 150 million freezing happened with a small bug on the multi signature. This is why trials were a must with smart contract platform before going on live.

I was not also expecting this happen to Ethereum because I know that there were massive amount of security testing. From another perspective, well done to this newbie fella that he could exploit it. Actually we think he is newbie, maybe he is not indeed.

The problem is not with ethereum but with the wallet itself as it has some bugs in its source code.
Waves adoption is still a long way off, comparing with the popularity of ethereum. I am solidly behind ethereum

Any new info on the Parity bug? Have they come up with any solutions?

Can someone explain how someone not affiliated with Parity got access to the Parity library that all the multisig wallets used? It sounds like there were 2 flaws - one the security flaw that allowed an outsider to get access to the library, secondly the flaw that allowed the owner of the library to be changed .

Newbie just killed ethereum.my be miss lead the code or some bug in the wallet. reason for all ETH holders to panic or sell cheap.. It's an issue with Parity wallet and the ethereum network. As long as the eth is frozen and can be recovered.

That "noob" is my hero.
I'd love to buy him a beer and a hooker.  :D

Let's call it a supply reduction

This is a parody purse own problem, this purse is not a third-party wallet official wallet, so smart contract problems purse developers, 100 million eth freeze is a good thing, to reduce the liquidity of the price is more beneficial to it.

I never thought that ETH has a big vulnerability until I saw this on the news. Though I will still believe that ETH will be bouncing back from this issue, just like what Gox did for bitcoin. There might be a possibility that an Ether fork might happen if they will it.

If the issue was that the library was deleted, surely there was a backup of the library?

Was the library open to the public, and if so, was the reason so that people could run smart contracts using it?

I don't think that is a newbie's doing; it might be some bitcoin enthusiast that wanted to exploit parity's vulnerability. Good thing that the funds were just frozen not stolen; it is the only reason I can think of why eth''s price is still maintained right now.

its a production blockchain. a "backup" would be to erase history on the blockchain with a hardfork. and since parity multisig wallets call the deleted library directly you cant just re introduce the library at a different contract/address.

the bug was that anyone could take ownership.

It's very bad if serious people say that, as I personally am now in the alts and if ETH falls, then the alts will also sprinkle, it will be very painful for me, I hope that they are not telling the truth

No it doesn’t. It only has to do with Parity wallet which is not something good at all as it affects the whole Eth community.

It could happen to anyone as long as you are holding ETH. This is one of the reasons why Waves will start being the next best option very soon with this sort of vulnerabilities. This is the second time something like this will happen with Parity.

I think that the price is still preserved in the light of all events because it is not a problem for big investors, everyone still believes as I believe in ETH and its global system on which it is possible to do not only projects

And then I wondered why Ethereum was dropping so bad few days ago, so this is it. This is pretty bad and looking at all the holders that would be hit by this development, then it would even be crazier than this. Well, Parity really has fumbled this time and that bug freezing so many funds will not go good for them, considering the fact that this would be the second one.

We obviously just have to see where the whole thing is headed, but I have a feeling this would be fixed otherwise it would tell bad on the Ethereum Ecosystem and it would start getting hard for people to trust a system that cannot even take into consideration shits like this and people ending up losing a lot of funds at the end. Whichever way, we will be watching...

I think that ETH is now more killing cats than anything else, since the etherium network is still hanging and can not do anything, so many transactions are happening on this site.

I can not understand for what reason there were such failures in the network? Could investing in cats cause this? Maybe there are other more serious problems?

The blockchain was already pretty close to max transactions most of the time, and the cats added something like 15% to the total, pushing things over the top and quickly creating a backlog in the waiting transaction pool and significantly pushing up the "fee market". So yes, cats caused this.

The reason was that this site sent a lot of small transactions and there were so many of them that the etherium blocking system simply could not cope, I do not know how it will be, but it's absolutely not serious if some seals can crash the ether network.

So, in short, should I not buy ETH? Because of crazy price and correction seems never happens I decided to put my money in ETH. Avoid it?  ???

Looking for what you need ETH, if you need it to trade, then it's better to wait for a pullback at a price, but if you need it to invest in new projects, then ETH should always be in the portfolio so as not to buy it then for $ 600

Shouldnt be "kitties just killed ethereum"? funny developers of ethereum,cant maintain their own network i pitty them.

I think that the etherium at the moment is the most stable of top-end crypto currency. Therefore, it takes the second place.

So stop, who said that they are funny? they now solve the problem, if you look at the history of ETH, then everything was there and everyone as always shouted that ETH is bad and even that it is fraud. I think that the ETH team will quickly solve the problem.

Looks like news around ethereum are enough to avoid buying more.
I don't know you should decide yourself but I would personally sell at least half of my eth portfolio after these news to decrease risk.

This is the problem, if so, the ETH will continue to grow at a price then all other coins will begin to pour and this is not good. But on the other hand, you can buy a little at a low price, the only question is whether to buy for ETH or better in USDT?

ethereum is very strong altcoin and it is promising i think only now it had been a little bit more valued with increasing waves of icos that are based on its smart contracts.

It seems that ETH by January or February will be able to break through $ 1000, and if you look at the chart and how fast and strong the top coins grow by capitalization, it is quite real that it will grow even more.

this is not the first hacking event for ethereum, this is a second hacking
Ethereum needs to solve this problem. This is really important for the future of ethereum

It seems that ETH is now nothing to be scared, because they again proved that they have the best team, there are no more problems. Seals now do not strain the etherium network, so everything is fine.