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   4877
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.

ConsenSys to Raise $200M, Media Reports

ConsenSys distributes presentation materials to Chinese investors, which say that the company expects to receive $ 50 million in revenue this year
16 April 2019   243

Based in Brooklyn, Ethereum-start-up ConsenSys is going to attract financing in the amount of $ 200 million from outside investors with a company's market valuation of $ 1 billion, the Information reports.

To this end, ConsenSys distributes presentation materials to Chinese investors. They say that the company expects to receive $ 50 million in revenue this year, mainly due to contracts with corporate clients and government agencies.

The publication also notes that in 2018, ConsenSys revenue amounted to "only $ 21 million." The structure of revenues, the sources of which are many supported by startups, is not specified.

The startup was founded in 2014 by Joseph Lubin, who at first financed ConsenSys from his own funds. Gradually, the number of staff of the company reached 1,200 people. However, when the price of Ethereum after the 2017 boom subsided sharply, the startup reduced 13% of employees. At the end of last year, as part of the reorganization, Lubin announced the launch of ConsenSys 2.0, as well as an emphasis on partnership with outside investors from the world of traditional finance.

In January, ConsenSys invested $ 1 million in the Coinhouse trading platform and an unknown amount in Tenta startup, focused on encryption.