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Cryptocurrencies

Ethereum startup gets hacked, freezing USD 156 mln in tech funds

Monday 13 November 2017 | 12:51 PM CET

Parity Technologies, an Ethereum-based company, has suffered an attack that resulted in more than USD 156 million in digital currency being frozen and inaccessible.

Parity manages a network of digital wallets which hold tokens that can be sold as needed by their owners and turned into cash. A hacker breached one of the wallets and subsequently wiped out its contents, including a code library. That resulted in other wallets in the blockchain being frozen. Parity said that 587 wallets containing 513,774.16 in Ether, the digital coin associated with the Ethereum blockchain, have been frozen.

The current flaw is the second suffered by Parity in the last four months. A July 2017 theft of more than 150,000 ether valued then at about USD 32 million caused by another flaw was allegedly resolved on July 19, or one day before the current vulnerability issue. The startup has been reaching out to owners of the affected wallets, but, as yet, has not found a solution to unblocking the wallets and freeing the frozen funds.

More: Link
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