Edgeless Casino lost $5600000 due to Parity hack

Luckily, project saved enough funds earlier to launch the platform in Q3
20 July

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements

Edgeless project, the Ethereum smart contract-based Casino, shared official announcement regarding Parity hack.

According to it, project lost  26 793 ETH ( 5.6 mill $ ) due to hackers attack. 


Distributed database that is used to maintain a continuously growing list of records, called blocks

But team had  diversified their funds right after an ICO and they have amount to run the project. Additionally, they got funds when ETH was 15$ — 50$ per unit and now ETH price is way much higher which covers our hacked loss. It means that platform launch will happen in Q3. However, team was forced to make some changes in dapp structure. From now it will be purely ran on EDG tokens, since a large part of team's ETH was supposed to be our casino’s bankroll.

That means, if players want to gamble on Edgeless casino, they will need to get EDG tokens.

Also, Edgeless, Æternirty and Swarn City formed a group to address this question. It will be announced in a near future.

Also, Aeternity had also shared information about the hack. Learn more about the Parity hack in our article

Ethereum network is still unstable

Byzantium had executed on Monday, but developers aren't ready to call the software transition complete
18 October

Organizations and developers are better off refraining from launching large projects until the Ethereum network is fully stable after the recent Byzantium update. This is said by the Gavin Wood, Parity Technologies head and reported by the Coindesk.

Since new versions of the software were released just days before the fork, much of the network has not yet been updated. So, at the time of press, slightly more than 25% of Parity customers updated, in Geth this indicator is slightly higher - about 59%. So, in total, the update was made about 45% of the network.

Another aspect that should also be taken into account is the short time for testing. In particular, the developers recalled previous versions of the software, discovering critical errors that could make the network vulnerable to DoS attacks or lead to incompatibility between nodes and, as a consequence, network sharing.

Therefore, the question of how safe the network is at the moment is fully justified and, taking into account what has been said above, remains open. This is exactly what Gavin Wood warned, recommending at this stage to refrain from launching large-scale projects.

In addition to the nodes that have yet to update, there is also a possibility that in the current Byzantium software there may be bugs that endanger the security of the Ethereum network. The most dangerous among them is a bug of consensus, in which nodes can not communicate. Its result can be the separation of the block-man into several incompatible chains.

As far as is known, at the moment developers are conducting extensive tests, trying to detect such bugs before they are active. As Gavin Wood says, if the network does contain such a bug, it will take several days to prove itself.

I don't think anyone believed the network was going to self-combust on block 4,370,000.

Gavin Wood
Head, Parity Technologies

The head of Parity Technologies is also convinced that if problems are discovered, the Ethereum development team will quickly release new updates designed to prevent any harm to the platform.