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RE: Newbie Hacks Ethereum Parity Wallets for $150 Million.
Wait...
the parity wallet software (not ethereum itself) gave a user the ability to wipe out system wide libraries? WTF?? Given this was the second massive code failure for the team, I'd definitely stay away from anything "Parity Wallet" related.
Go Be Awesome!
be safe stay away from anything ethereum related there is hack after hack and price is massively inflated with the amount of ICOs under them.
I'm not disagreeing with you about keeping distance to be safe, but I think the word HACK in the title was way misleading since the article itself then goes on to say a Newb "accidentally" deleted the code in question. Hardly a hack, and There was no $150 mil theft as the title also implies. This was big news, the clickbaity title was overkill imho. But still, thanks for sharing it with us!
It is a HACK that occurred by accident or on purpose.
The $150 million is hacked and unusable i never said stole neither does title says the amount that was effected.
Definition of hacking:
Source:techopedia.com
yea.. thats stretching the word as far as possible i think. Accidental deletion is not a hack in my view. The funds are indeed frozen, and it is indeed possible that there is an actual hack in play here, but the implication from the text is that a user did it, by accident. Thats a flaw in the program code that would allow that to happen "accidentally" by a random new user.
how is it a stretch of the word?
access to areas of a system by any means is called a hack.
luckily it was a new user as a=had this exploit been known somebody with technical knowledge could have used to their benefit.
You never shut something down, because you knew how, before it hurt people? I can remember many times where I resisted the urge for easy profit, in the name of helping others keep their assets. ;)
what are you talking about shutting down and what do you refer to in resisting easy profits and helping others
Nice fluff
I agree. As far as I can see (from my limited perspective on the subject) this affects parity wallet users and those who've written code or created tokens using the parity wallet.
Ethereum? I haven't found any indication Ethereum itself has any issues. Not even in the weirder places on the net. lol
this post details how ethereum funds are effected
http://www.trustnodes.com/2017/11/07/ethereums-parity-hacked-half-million-eth-frozen
This Does Not Affect ETHEREUM
it only affects tokens which have been created USING the Parity Wallet client. The ethereum which backs the affected tokens is perfectly fine, the ethereum network/blockchain is perfectly fine. The Parity Wallet developers are in pretty hot water right now.
effects $150 million so is not a small problem
This Doesn't Look Like an "Accident" or "Newbie" Event
I'm guessing there's a more than 50% chance this was done on purpose, by someone who knows the Parity Wallet code...
he deleted library code making the ethereum unusable
Had they the knowledge of Parity code would have stolen funds and not lost their own.
Exactly what portion of Eth users are/would be effected by this? I dont use ETH much, only when necessary in trades and even then I just use a Jaxx wallet. So I'm not really familiar with how interconnected this Parity wallet thing is within the ETH ecosystem.
Maybe you could explain?
its a wallet for multi sig contracts usually ICOS for more details check there site https://paritytech.io/
A Chunk of Ethereum, Already Connected With Tokens, Will Not
be moving until the developers of the parity wallet code (which was used to issue the tokens) fix their issue and unlock the tokens.
In Short
the ethereum which was already locked away for use as tokens, is still locked away for use with tokens. The parity wallet team needs to figure out how to get things moving again.
Go Be Awesome! :)
Funds are trapped and parity team dont know if can be fixed
Unless stealing was not their intent. And losing a single token? Where is this a tragedy? Unless I'm missing where some vast ethereum amount is now gone?
the user did by accident,
$150 million funds effected,
not gone but not usable.
$150 Million which did not belong to them, so no personal loss.
it was a loss for holders and investors