Archive | parity

Four Major Cases of Hacking a Smart Contract or Why Thinking Ahead is Important for an ICO Project?

When you approach a vending machine and insert a coin, you expect to receive a can of soda or tasty snack in return. The same thing happens when you use blockchain technology to exchange cryptocurrency for any service or vice versa. It’s called, a “smart contract,” and it’s expected that this process is automatic; nothing […]

Parity Team Was Aware of Multisig Bug but Postponed Implementing Fix

The Parity multisignature issue involving the freezing of Ethereum funds has taken yet another major plot twist. More specifically, the Parity team has acknowledged that they could have easily prevented the freeze but failed to do so. With over 500,000 Ether still locked up in smart contracts, it is evident the company’s negligence was a big factor. How […]

Parity Multisig Bug Shows Non-Owners of Smart Contracts Can Execute Kill Function

The Ethereum community received a nasty surprise when the latest Parity multisignature hack was exposed. Someone successfully froze millions of dollars worth of Ether with a smart contract exploit. So far, this matter has not been resolved, and there is evidence of this having been a malicious attack first and foremost. It’s an interesting train of thought […]