Hackers steal $ 34 million in Ethereum s second cryptocurrent robbery in this week

By Admin - July 20, 2017 11:24 pm   2   460   0

One of the most popular cryptocurrences in the world is attracting the attention of hackers, or at least that has been the case this week. For the second time in a span of just three days, hackers have been able to earn millions of dollars from Ethereum, leaving white hat hackers vigilant struggling to prevent further theft.

In this latest robbery, the group of hackers (or individual hackers, we do not yet know) exploited a vulnerability in Parity, a digital wallet service where crypto-miners can store their Ethereum. In doing so, hackers were able to hit more than 153,000 Ether with a value of about $ 34 million in three Ethereum notes from various firms, according to the most recent estimates.

After the final blow, Parity founder Gavin Wood issued a critical security alert for users.

"A vulnerability has been found in the Parity Wallet variant of the standard multi-sig agreement," Wood wrote. It then advises users to "immediately move the assets contained in the multi-sig folder to a secure address".

Meanwhile, white hat hackers have been able to pull out some 377,015 ethers worth more than $ 85 million to prevent further losses.

"The white groups were informed of a vulnerability in a specific version of a multi-sig contract of common use.This vulnerability was trivial to execute, so they took steps to drain all the vulnerable multi-sig they could find as Possible "Said White Hat Group on Reddit.

These funds will be returned to their owners after the group is able to create another multi-sig for each individual with the same settings as before, minus the vulnerability that made theft possible in the first place.

This is not the only black eye for cryptocurrences, not even the only theft this week. Back on Monday, hackers came out with an estimated $ 10.3 million in CoinDash's Ethereum currency. In that case, it is believed that the guilty simply replaced the legitimate address Ethereum wallet listed in CoinDesk with one that belonged to them.

There are several other examples of thieves stealing a large number of cryptocurrences, as Gizmodo points out. In June last year, hackers stole $ 53 million cryptotoxicity from the venture capital fund of the Decentralized Autonomous Organization. And then there was the situation in which $ 450 million Bitcoin disappeared from the mountain. Gox a few years ago.