32% of the assets were stolen from Satoshi Pie

According to the team of cryptocurrency fund, $7 000 000 were withdrawm by the unknown within an hour
21 July 2017   6820
Ethereum

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19, due to the vulnerability in the Ethereum wallet Parity, about 32.4% of the fund's assets or about $ 7 million were withdrawn by the unknowns from Satoshi Pie.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.

The report says that most of the funds were withdrawn within an hour.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.

This is not a only loss of funds, caused by the Parity hack. Such project as Edgeless Casino and Aeternity lost their money too.

Ethereum Co-Founder to Leave Decentral CEO Chair

Anthony Di Iorio will remain the chairman of the board of directors of the company which cut the half of its staff
04 September 2019   858

The crypto industry veteran and billionaire Anthony Di Iorio left the post of head of Decentral, one of the main products of which is the popular multi-currency wallet Jaxx. It is reported by CoinDesk.

Di Iorio will continue to address key financial issues, remaining the chairman of the board of directors of the company. However, the new CEO will be Maggie Xu, who previously held the position of product manager for Decentral.

According to Di Iorio, in 2018 the number of crypto-wallet users reached 1 million. Also, thanks to integration with the ShapeShift platform, Jaxx users carried out exchange operations worth more than $ 2 billion a month.

Then the company planned to enter into a partnership with many service providers, landing companies and exchanges. However, these plans were hindered by the bear market, which reduced the commission income from exchange operations through ShapeShift, which were the company's main source of income. Decentral had to cut nearly half the staff, leaving only 14 employees.

To date, the situation has improved slightly and the company plans to hire several developers. In addition, Decentral has partnered with several services, including GiftPay and Changelly.

According to Xu, in the next few months, the company plans to attract financing from strategic investors. She also added that the new version of the wallet - Jaxx Liberty - was downloaded 250 thousand times last year.