Parity wallets hacked, $32 million in ETH stolen. Big deal or no?

[dennyd999]

it's not an ethereum hack. it's a wallet hack. maybe the people who build stuff like this haven't caught up to how valuable it is these days.

I still can't understand why they keep calling this ethereum hack. This is clearly a wallet hack and people don't see this. They think it's a bug with ethereum interestingly.

Parity is like official ETH wallet,because the same developers are working on it. It is like  if Bitcoin Core will develope her own wallet. <the same is with Parity team.

But the hack was not on Parity but on smart contract on which multisig wallet was operated.
Multisignature wallet is smart contract between wallet and peoples evolved in contract.

Gavin Wood was made dumb mistake writing the code for this contract.
Gavin Wood is first creator of ETH.Gavin Wood is human.
Humans make mistakes.

The problem with decentralized app is that it become visible for everyone and 1 mistake will lead to money loose.

Gavin Wood will pay for this error ofc.

The price will crash after BTC rise..They cant crash it now,because  than it will be critically low on Segwit news.

[eXpl0sive]

The hacker tried to exchange the stolen ETH for other coins using the Changelly service using TOR browser. However the Changelly team have blacklisted his address.

What happens if all exchanges blacklist his address? Won't he have a nightmare cashing out his stolen ETH?

[bestluck]

it's not an ethereum hack. it's a wallet hack. maybe the people who build stuff like this haven't caught up to how valuable it is these days.

I still can't understand why they keep calling this ethereum hack. This is clearly a wallet hack and people don't see this. They think it's a bug with ethereum interestingly.

Parity is like official ETH wallet,because the same developers are working on it. It is like  if Bitcoin Core will develope her own wallet. <the same is with Parity team.

But the hack was not on Parity but on smart contract on which multisig wallet was operated.
Multisignature wallet is smart contract between wallet and peoples evolved in contract.

Gavin Wood was made dumb mistake writing the code for this contract.
Gavin Wood is first creator of ETH.Gavin Wood is human.
Humans make mistakes.

The problem with decentralized app is that it become visible for everyone and 1 mistake will lead to money loose.

Gavin Wood will pay for this error ofc.

The price will crash after BTC rise..They cant crash it now,because  than it will be critically low on Segwit news.

I second your thoughts. It’s nothing out of world that the wallets get hacked due to some human error. After all, we all commit mistakes no matter how qualified and experienced we are. So is the case with Gavin Wood. May be prices will crash after Segwit. But it would be then really heartrending for eth supporters if it is dumped too badly after the Segwit.

[guesswhat]

The hacker tried to exchange the stolen ETH for other coins using the Changelly service using TOR browser. However the Changelly team have blacklisted his address.

What happens if all exchanges blacklist his address? Won't he have a nightmare cashing out his stolen ETH?

The first time I heard this. Can't he use an ether mixer if one existed? Or he can contribute funding projects. I don't think they can ban him from all services. They will be spending those assets freely, unfortunately.

[PoorLad]

The hacker tried to exchange the stolen ETH for other coins using the Changelly service using TOR browser. However the Changelly team have blacklisted his address.

What happens if all exchanges blacklist his address? Won't he have a nightmare cashing out his stolen ETH?

The first time I heard this. Can't he use an ether mixer if one existed? Or he can contribute funding projects. I don't think they can ban him from all services. They will be spending those assets freely, unfortunately.

Even if I dont like what the hacker did, it is a good thing that the community cant block out his address. It would be kinda backwards to what it stands for

[solve_it]

Hi guys, this video has a good overview of what happened:

https://www.youtube.com/watch?v=mU-mAEzOljI