153k Ether Stolen in Parity Multi-Sig Attack

Re:153k Ether Stolen in Parity Multi-Sig Attack by runeks on Thursday July 20, 2017 @01:49AM (#14810274)

> That $10m out the window is like a Series A for a nefarious hacker with deep crypto skills [..]

Where "deep crypto skills" refers to someone who bothered to read the documentation on Solidity (the Ethereum contract language), specifically the section on function visibility[1], and the Parity wallet contract itself[2].

In other words, an obscure security hole was not found by a genius hacker. An obvious, trivial, simple mistake was exploited for $9m because the people investing money in it provably didn't know what they're were doing.

[1] http://solidity.readthedocs.io/en/develop/contracts.html#vis...

[2] https://github.com/paritytech/parity/blob/4c32177ef3f4521c66...

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Re:153k Ether Stolen in Parity Multi-Sig Attack by kough on Thursday July 20, 2017 @04:17AM (#14810811)

because the people investing money in it provably didn't know what they're were doing.

Very true – the price hasn't really moved in response to this news, which makes very little sense to me. I'd be shorting if I could figure out how.

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Re:153k Ether Stolen in Parity Multi-Sig Attack by keypusher on Thursday July 20, 2017 @05:19AM (#14811033)

Would you short the US dollar because one small bank got robbed due to bad security? The flaw here was not with Ethereum, it was with the wallet developer.

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Re:153k Ether Stolen in Parity Multi-Sig Attack by mcbits on Thursday July 20, 2017 @08:22AM (#14811816)

Based on the relative sizes of the currencies, this is closer in scale to the Bernie Madoff scam, but happening overnight instead of gradually over 20 years.

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Re:153k Ether Stolen in Parity Multi-Sig Attack by tboyd47 on Thursday July 20, 2017 @01:40PM (#14814664)

Why should the price move in response to this? They'll just change the rules and print more.

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