Hackers stole 30 000 000 $ from Parity

Due to vulnerability in Parity Ethereum wallet, hackers were able to stole giant amount of money 
20 July 2017   4558
Ethereum

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

Vulnerability was found in the Parity wallet, with the use of it $ 30 million were stolen. Company issued a security notice about the vulnerability in the wallets version 1.5 and higher (since January 19, 2017).

At the time of publication of the article, about 150,000 ETH were stolen, which is more than $ 30 million. This data is also confirmed by the Etherscan service.

As explained by the Parity team, the problem arose as a result of an error in a separate contract with a multiplier known as wallet.sol.

According to preliminary data, the potential consequences have already been mitigated, and another 377,000 ETH were protected from theft by attackers by WhiteHat's actions by hackers.

Blockchain

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

The White-hat group was able to withdraw a broadcast of $ 76 million (and another 80 million in various tokens) from vulnerable purses to protect funds.

Etherscan
Etherscan

Parity noted this error as critical, recommending to everyone who uses multi-signature wallets to move their funds to secure addresses.

According to information from Gavin Wood, CTO of Parity at least three addresses in the Ethereum network have been compromised as a result of exploitation of the vulnerability: Edgeless Casino, Aeternity and Swarm City.

MEW to Launch KYC-less Crypto Withdrawal

Service is available in Euro and Francs to all bank account holders with an international bank account number (IBAN)
21 February 2019   83

MyEtherWallet, a popular cryptocurrency wallet, in collaboration with the Swiss company Bity, introduced the Fiat service, which allows you to exchange digital assets for euros and Swiss francs without verification.

It is noted that the service is available to all bank account holders with an international bank account number (IBAN).

Bity is able to offer this kind of KYC-less Exit-to-Fiat gateway because it is compliant with the Swiss Anti Money Laundering Ordinance (AMLA). This, along with technology that helps verify proof of wallet-ownership, allows Bity to realize the friendliest kind of user experience — frictionless, secure AND regulatory compliant.
 

MyEtherWallet Team

To use Exit-to-Fiat, the user must specify Bity as the service provider in the asset exchange section. You will also need to provide a phone number, bank account details and a billing address.

This information is transmitted to Bity to comply with legal requirements and is not stored by MyEtherWallet.

The maximum transaction size is limited to 5,000 francs (about $ 5,000).