ethereum $110 million hack; Will we see another rollback and ETC.2?

[BitJunky]

As I gather this hack was not caused by any bug in Ethereum, but due to the vulnerability in Parity wallet implementation. So it'll be Parity whos gonna take impact, while eth will have very slight effect. 

[1714861753]

1714861753

[1714861753]

1714861753

[1714861753]

1714861753

[1714861753]

1714861753

[zessyking]

Fucking hacked coin , wallet, etc.. Should i sell Edgless now ?

[Za1n]

Also all those people chiming in saying xxx coins in unhackable, mainly it is because the coin(s) do not have vast value as of yet, so you are relying on security via obscurity for the moment. Anything is hackable.

the most valuable cryptocurrency with the most usage and biggest number of users is bitcoin. hackers have been trying to find exploits in bitcoin to hack it for 8.5 years and they have been failing.
the only thing they could do so far is hacking exchanges, stealing wallets with no password, and tricking idiots into giving them their private key directly

edit:
here is a bitcoin MultiSig containing 119,635BTC = $282 Million
feel free to start hacking it
https://blockchain.info/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r

ethereum is supposed to be a smart contract platform and already has the biggest shame of all times: the DAO
and the news keeps coming.
who is to say there aren't more exploits waiting to happen on this coin. there sure are a lot of them happening these days as price is still somewhat high.
you know hackers never kill something right away, they do it slowly to gain the value. like this hack which was only a small amount not all ($32 mil) while the main hacker could empty everything at once.

Do you think we will see another roll-back like the DAO $50 million hack and will it leave us with ETH 2.0 fork?

No. Even Vitalik is already chiming in to dismiss such talk:

https://twitter.com/vitalikbuterin/status/887782650026631168

Vitalik Buterin‏@VitalikButerin 9 hours ago

1. Ecosystem less mature then
2. More at stake then as % of all ETH
3 [most impt]. Today's attacker can just move funds, so HF is impossible

in other words Vitalik coins were safe and he didn't lose anything.

People have lost Bitcoins ever since it was first publicly available and yes some early wallets have had vulnerabilities. Brainwallet was also a big one in case you don't remember.

Anyway this wasn't a Bitcoin versus Ethereum discussion, it was to point out nothing is totally 100% safe. No wallets and no Blockchain.

[Za1n]

As I gather this hack was not caused by any bug in Ethereum, but due to the vulnerability in Parity wallet implementation. So it'll be Parity whos gonna take impact, while eth will have very slight effect. 

Yes, what happened was exactly that. However the fudders are out in full force trying to do what they do best, sow fear, uncertainty, doubt.

[NUFCrichard]

I hope they do fork, if they do I will buy the pre-fork dip and enjoy having the ETH + ETC2 afterwards!
It doesn't sound like it is ETHs problem though, they can't hardfork everythime anyone using their system makes a mistake.

Also $35mil is a drop in the ocean now, the DAO was everything for ETH back then, this isn't.  I still feel for those who were robbed though.

[talkbitcoin]

this is a real embarrassment in my opinion. there are only bad news for ethereum these days, the hacks the dumps, the price goes down each day and no buy support.
and on top of all that there is still the ICO threat that can crash the price at any moment.

i bought some in the recent dip but i sold them as fast as i could. things are getting too scary with this coin in my opinion and with higher price it just attracts more hackers and so far they have been very successful in hacking it.

[sammrheza]

hacked hacked hacked , too much eth hacked today

[dennyd999]

As I gather this hack was not caused by any bug in Ethereum, but due to the vulnerability in Parity wallet implementation. So it'll be Parity whos gonna take impact, while eth will have very slight effect.  

Parity Team are from Ethereum devs team.

From Parity website:
We are a mixture of alumni from the Ethereum project and new faces - but we are dedicated to bringing the decentralised web to life.
It is the same peoples that creating ETH code with minor new faces.


The begining of the code which was actually hacked:
//sol Wallet
// Multi-sig, daily-limited account proxy/wallet.
// @authors:
// Gav Wood <g@ethdev.com>

Gavin Wood is one of the main creator of Ethereum.

Full Code here
https://github.com/paritytech/parity/blob/4d08e7b0aec46443bf26547b17d10cb302672835/js/src/contracts/snippets/enhanced-wallet.sol

Price will fall latter, not to cause panic right now. The question is for how much?

It is just a lot of bad news :ICOs freezing network,ICO and hackers cashout soon, parity wallet vulnerability.

[hase0278]

I hope they do fork, if they do I will buy the pre-fork dip and enjoy having the ETH + ETC2 afterwards!
It doesn't sound like it is ETHs problem though, they can't hardfork everythime anyone using their system makes a mistake.

Also $35mil is a drop in the ocean now, the DAO was everything for ETH back then, this isn't.  I still feel for those who were robbed though.

Too bad for those who were robbed, Is there a chance that they will still get their money back? Either way there will be a rollback in price for sure that is incoming , and this one dump might make eth fall back to it's original price. For now, A hardfork might be a good solution but they must make sure that this kind of thing will never happen again.

[KellyCoin]

As others have posted, its important to note that Eth it's self wasn't hacked it was the Parity Wallet that was. So Eth shouldnt see any significant fallout from this unless people keep misunderstanding what really happened.

[tiggytomb]

I initially thought the price would drop but then it wasn't ETH it was Parity, it's a shame but things like this will continue to happen as more and more is built on ETH, not everyone can be 100% all the time but when you are dealing with finance and people's funds it is essential that things are secure as possible and it seems in this case a silly mistake was made which has cost people a lot of money.

I seriously doubt there will be a roll back this time around.

[dennyd999]

Sadly to say ,but it was Gavin Wood who maked a mistake in Parity wallet code.

Here is full code with explanation of hacked Parity wallet

https://github.com/paritytech/parity/blob/4d08e7b0aec46443bf26547b17d10cb302672835/js/src/contracts/snippets/enhanced-wallet.sol



Gavin Wood is the first Ethereum coder.

http://gavwood.com/


Thats means that this person maked bugs before, which leaded to DAO hack and he continues to make a mistakes in codes...Cmon Gav stop make a shit.

Gavin Wood  - doing shity code since 2016.

PoS - could be another hackable Peace of Shit from Gavin.

ETH is hackers paradise.

[Fatunad]

I hope they do fork, if they do I will buy the pre-fork dip and enjoy having the ETH + ETC2 afterwards!
It doesn't sound like it is ETHs problem though, they can't hardfork everythime anyone using their system makes a mistake.

Also $35mil is a drop in the ocean now, the DAO was everything for ETH back then, this isn't.  I still feel for those who were robbed though.

Too bad for those who were robbed, Is there a chance that they will still get their money back? Either way there will be a rollback in price for sure that is incoming , and this one dump might make eth fall back to it's original price. For now, A hardfork might be a good solution but they must make sure that this kind of thing will never happen again.

Theres no chance for those funds to be get back from their original owners and this hack of funds will surely make impact on ETH price and as you said hard fork would be a good solution but in exchange we would really go back to the previous lowest price for sure. I think its time to sold up some coins as of now 

[AbbyS]

Vitali said no,
but the idea of a HF after every hack is scary and destabilizing for ETH

[ryanben]

what would they do with the ETH which they had stolen? a group of hackers trying to attack ETH with purpose appropriation or any other reason?

[Voice-Of-Reason]

Taking my losses and never going back to ETH ever again

[SonnetStar]

I don't think a rollback should happen again. The first time was kind of a shock but now everyone knows that risk is possible and engaged with that knowledge. Another roll back would mean all credibility is lost for the coin

[thejaytiesto]

another huge loss for ethereum owners when the parity wallet multisignature was hacked and the hacker stole 153,037 ETH which is nearly $32 million worth of ETH.
https://ethplorer.io/address/0xb3764761e297d6f121e79c32a65829cd1ddb4d32

also another group of hackers took the opportunity to drain all the similar multisig addresses with the same vulnerability in ETH and similar tokens.
so far they have hacked the total amount of 379,999 ETH which is nearly $80 million worth of ETH
https://ethplorer.io/address/0x1dba1131000664b884a1ba238464159892252d3a


Do you think we will see another roll-back like the DAO $50 million hack and will it leave us with ETH 2.0 fork?

ETH is just such an usafe place to be and it keeps showing. It would be hilarious to see ETH, ETH2 and ETC and ETC2 since it would always create 2 more splits not only one. In a long enough timeline there will be infinite ETH's because there will be infinite hacks... good luck with that.

[Lipe490]

For what I see this attack wasn't on ETH it self or the code something like that. I do not see fork happening.

[LoyceV]

Do you think we will see another roll-back like the DAO $50 million hack and will it leave us with ETH 2.0 fork?

No. Even Vitalik is already chiming in to dismiss such talk:

https://twitter.com/vitalikbuterin/status/887782650026631168

Vitalik Buterin‏@VitalikButerin 9 hours ago

1. Ecosystem less mature then
2. More at stake then as % of all ETH
3 [most impt]. Today's attacker can just move funds, so HF is impossible

4. It's neighter Vitalik's own nor his friend's money. He only hard forks for his own financial gains.