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   5839

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.


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.


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.

Buterin to Propose Way to Speed Up ETH 2.0 Migration

Vitalik Buterin,creator of Ethereum, believes the eth1 system can exist as a zero shard in eth2 
25 December 2019   270

Ethereum founder Vitalik Buterin proposed a solution that allows you to quickly get rid of the Proof-of-Work (PoW) algorithm chain and move everything in Ethereum 2.0 to Proof-of-Stake (PoS).

According to him, the eth1 system can exist as a zero shard in eth2.

Validators who choose to participate in eth1 will be able to register as friendly. They are expected to support the full eth1 node in addition to the eth2 node.

A full eth1 node will load all blocks of the zero shard and maintain the updated state of the old circuit.

Buterin believes that his proposal does not make any changes to the planned procedure for the transition from eth1 to eth2. Only software for stateless clients and witness size changes in the eth1 protocol are required.