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Hackers steal $32 million worth Ether in a recent hack

20 Juillet 2017

If the theft of over $7 million in ethereum this week during an ICO wasn't enough to cause a headache for advocates of the cryptocurrency, only two days later, another attack has allegedly resulted in the loss of at least $30 million. Manual Araoz, CTO at Zeppelin Solutions, said that Edgeless Casino, Swarm City, and æternity, have been affected by this hack.

The attack took only minutes and the switch of a wallet address posted on the CoinDash website to one the alleged perpetrator controlled, but the damage was done - leaving investors millions out of pocket and CoinDash in serious trouble.

Parity, a UK-based VC backed company founded by Ethereum co-founder Dr. Gavin Wood, on Wednesday issued a security alert stating that it has identified a vulnerability in Parity Wallet's variant of the standard multi-sig contract.

A multi-sig wallet is a wallet that requires more than one signature for an action to be performed on its contents.

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Ethereum holders are nervously watching to see if millions of dollars worth of the cryptocurrency that was drained via a vulnerability in the Parity Multisignature Wallet storing the funds will be returned to them.

So far, 377,000 in ethereum has been recovered in this way, amounting to over $77 million at the time of writing. Swarm City lost about 44,055 ETH because of the breach. Edgeless Casino and the æternity blockchain were also hit, we're told. We will be creating another multisig for you that has the same settings as your old multisig but with the vulnerability removed and we will return your funds to you there.

Parity Technologies, creators of the Parity Browser for interacting with the Ethereum network have issued a critical security alert.

Hackers steal $32 million worth Ether in a recent hack