A newbie just killed Ethereum

[JesusCryptos]

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.

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)

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.

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[somewhan]

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.

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.

[Bonsaiav]

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.

[bobq]

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.

[Red_Sanford]

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

[howard.ashoul]

Yeah, that was quiet funny!

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

[cyber-i]

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.

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.

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.

[cyber-i]

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

[sakokinak]

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. 
To the moon!

[xbiv2]

Ethereumnot realy work

[Vaskiy]

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.

[btcdepo]

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.

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.

[omitusaf]

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

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

[cyber-i]

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

[ulhaq]

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 .

[Luther omega]

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.

[Spoetnik]

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.

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)

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

[Plomb]

Let's call it a supply reduction

[cold cool]

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.

[benedictonathan]

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.