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posted by takyon on Wednesday November 15 2017, @02:12AM   Printer-friendly
from the vanishing-act dept.

Submitted via IRC for SoyCow1984

A crypto-currency collector who was locked out of his $1m Ethereum multi-signature wallet this week by a catastrophic bug in Parity's software has claimed the blunder was not an accident – it was "deliberate and fraudulent."

On Tuesday, Parity confessed all of its multi-signature Ethereum wallets – which each require multiple people to sign-off transactions – created since July 20 were "accidentally" frozen, quite possibly permanently locking folks out of their cyber-cash collections. The digital money stores contained an estimated $280m of Ethereum; 1 ETH coin is worth about $304 right now. The wallet developer blamed a single user who, apparently, inadvertently triggered a software flaw that brought the shutters down on roughly 70 crypto-purses worldwide.

[...] Cappasity has alleged the wallet freeze was no accident: someone deliberately triggered the mass lock down, we're told, and there's evidence to prove it. By studying devops199's attempts to extract and change ownership of ARToken's and Polkadot's smart contracts, it appears the user was maliciously poking around, eventually triggering the catastrophic bug in Parity's software. "Our internal investigation has demonstrated that the actions on the part of devops199 were deliberate," said Cappasity's founder Kosta Popov in a statement this week.

Source: https://www.theregister.co.uk/2017/11/10/parity_280m_ethereum_wallet_lockdown_hack/

Ethereum.

Previously: $300m in Cryptocurrency Accidentally Lost Forever Due to Bug


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  • (Score: 1, Funny) by Anonymous Coward on Wednesday November 15 2017, @04:32AM (2 children)

    by Anonymous Coward on Wednesday November 15 2017, @04:32AM (#597148)

    Indeed. I'm glad that this wasn't a mistake made by a violently imposed monopoly!

    Slight sarcasm. Only slight. All in all, it could be a better world where people think more deeply about the bullshit they write (which all too often means what the party with more power believes it means). Perhaps men would evolve into the Sheliak Corporate [wikia.com]. Not sure if that constitutes angels, though. Perhaps close enough in all honesty.

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  • (Score: 1, Interesting) by Anonymous Coward on Wednesday November 15 2017, @06:36AM

    by Anonymous Coward on Wednesday November 15 2017, @06:36AM (#597180)

    Having the care and prescience to forestall genocide and war (judging from the wiki, not the ep) centuries in the future is an astounding act of good.

    For all the hate bureaucracy gets (even the damn name!) it's damn effective at getting shit done on a long enough time scale. Individuals just can't see the big picture, and what seem rational acts eventually, due to what are effectively rounding errors, become horrific disasters. You just can't run a country on gumption and proactive genius employees who have the full knowledge of your entire legal department, and HR department, &c in their one head.

    Sure they suck when they fail, and their inflexibility leads to frustration and poor service during periods of change, but when they get around to it then it'll be done passably well. I'll take boring mediocrity from my government any day, over exciting reform and individuals with enough personal power to obviate bureaucracy. Because when my boring system fails, it'll be shit. When the exciting power-to-individuals system fails it could be a disaster or a dictatorship. More likely an incredibly expensive mess that fucks people over for years to come due to non-standard practices making people fall through the cracks those addicted-to-helping-people folk have clawed open.

    e.g.: The DMV clerk who, realizing the form doesn't contain the required fields, just writes the info on the back. Then again when it happens next. Multiply by one gumptious fool per office and you have a disaster of unretreivable non-standard data which will cost a huge amount to fix. Oh, and did I mention ten percent of the data is illegible because they didn't block-print it with sufficient spacing between characters and are no longer around to read their shit handwriting?

    Shadow IT is not your friend, it's a nightmare with a suitable name.
    /rambling

  • (Score: 2) by JNCF on Wednesday November 15 2017, @07:57AM

    by JNCF (4317) on Wednesday November 15 2017, @07:57AM (#597202) Journal