Open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements.
Yesterday, on July 19, due to the vulnerability in the Ethereum wallet Parity, about 32.4% of the fund's assets or about $ 7 million were withdrawn by the unknowns from Satoshi Pie. Representatives of Satoshi Fund and the managers of the Satoshi Pie reported about it.
— Satoshi • Fund (@satoshi_fund) July 19, 2017
The report says that most of the funds were withdrawn within an hour. The project team managed to withdraw the remaining ones to a new, controlled wallet. During the course of events it became known that the attack was carried out by the White Hats Group (WHG). Also, according to the representatives of Satoshi Fund and Satoshi Pie, they are currently waiting for a refund in a new contract (without vulnerabilities), according to the WHG statement on Reddit.
As representatives of Satoshi Fund and Satoshi Pie assure, the damage is not critical and the fund will continue its activity, however its operating mode will be slightly changed. So, I / O operations will be processed once a week. Also, there will be a limit of one transaction for the deposit and withdrawal of funds at 10 BTC.
In addition, Satoshi Fund and Satoshi Pie project teams will consider moving all funds in the Ethereum ecosystem to Zeppelin smart contracts. Also in the coming days new version of Satoshi Pie whitepaper will be published.
English version of the team's message is also available.