'$300m in cryptocurrency' accidentally lost forever due to bug
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'$300m in cryptocurrency' accidentally lost forever due to bug
'$300m in cryptocurrency' accidentally lost forever due to bug

User mistakenly takes control of hundreds of wallets containing cryptocurrency Ether, destroying them in a panic while trying to give them back

More than $300m of cryptocurrency has been lost after a series of bugs in a popular digital wallet service led one curious developer to accidentally take control of and then lock up the funds, according to reports.

Unlike most cryptocurrency hacks, however, the money wasn’t deliberately taken: it was effectively destroyed by accident. The lost money was in the form of Ether, the tradable currency that fuels the Ethereum distributed app platform, and was kept in digital multi-signature wallets built by a developer called Parity. These wallets require more than one user to enter their key before funds can be transferred.

On Tuesday Parity revealed that, while fixing a bug that let hackers steal $32m out of few multi-signature wallets, it had inadvertently left a second flaw in its systems that allowed one user to become the sole owner of every single multi-signature wallet. (...)


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2017 Nov 09 00:09
The following 3 users Like Aptrgangr's post:
Artturi (09-11-2017), Osweo (09-11-2017), Zephyr (09-11-2017)
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RE: '$300m in cryptocurrency' accidentally lost forever due to bug
I would not invest my money on any digital currency or their platforms that had not been completely verified to be valid and working through formal verification.

Demand for secure computing is high, and it will grow even more. Please take note that formal verification is guaranteed to be the hot stuff of computer science of the next decade. Start investing in skills and shares now, and you will be rich. Smile
2017 Nov 09 11:08
The following 2 users Like Artturi's post:
Osweo (09-11-2017), Zephyr (10-11-2017)

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