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   7206

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19, due to the vulnerability in the Ethereum wallet Parity, about 32.4% of the fund's assets or about $ 7 million were withdrawn by the unknowns from Satoshi Pie.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The report says that most of the funds were withdrawn within an hour.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 to Unveil Muir Glacier Hardfork Date

The hardfork is desgined to delay complexity bomb acitvation and all node holders asked to update software by Dec 30, 2019
23 December 2019   317

The Ethereum Foundation website has published details of another hard fork designed to delay the activation of the so-called complexity bomb.

The update was called Muir Glacier and will be activated on block # 9200000, which is expected to be produced on January 2, 2020, depending on the speed of release of the blocks.

In a message, the lead developer of the Ethereum Foundation, Hudson Jameson, asked node holders to update their software by December 30, 2019.

The complexity bomb is a complementary Proof-of-Work algorithm for regulating the complexity of Ethereum mining, exponentially increasing its value every 100,000 blocks. By increasing the time spent in blocks, the complexity bomb is also designed to encourage participants in the Ethereum ecosystem to switch to the Proof-of-Stake (PoS) algorithm.

Earlier, Ethereum developers discussed the possibility of completely removing this mechanism, but in the end they agreed to postpone it, for which Muir Glacier hard fork will be held. After it, the activation of the complexity bomb will be delayed by 4 million blocks.

According to Etherscan, today the difficulty value is 17.15 seconds. This, although almost twice as low as in September 2017, still leads to too long a transaction processing time.