A newbie just killed Ethereum

[Raffielo]

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/

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.

[cryptodyn]

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?

[DroidR17A]

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.

[deloreswest]

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 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.

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

[somewhan]

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.

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.

[sheamus10]

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.

[alexcopper]

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

[Leodalat]

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

[Teraboy]

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

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.  

[bongiu]

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

[sinner]

what's the verdict? hardfork?

[imtav]

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.

[SenSeiSoKo]

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  
But it is not nice when markets get crushed away

[Gabi]

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.

[topesis]

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

[popolite11]

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.  

$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!

[Tony116]

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.

[blackwidow7]

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.

[rezurect]

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.

[SearchingforS]

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.