QUOTE OF THE DAY
“It is better to risk saving a guilty man than to condemn an innocent one.”
(Another) Parity Multi-Sig Vulnerability Discovered
Just 4 months ago some internet hooligans managed to exploit a flaw in the Parity Multisig code, which allowed a them to steal over 153,000 ETH (that was around ~$30M USD at the time). And Over $160M in Ether and crypto tokens had been preserved due to white hat hacking efforts.
Now another vulnerability has come to light. I'm not going to get into the technicals, but the current tl;dr is that currently no funds can be moved out of the multi-sig wallets.
The parity team is currently analyzing the situation and will release an update with further details shortly.
This does beg the question, if the dude who developed Solidity (the language for writing smart contracts) can't code a secure multi-sig wallet, who can? And wait a second, weren't we told that multi-sig is the safer option for security?
And another question: So...does this mean that most ICOs are now officially bankrupt?
You can read the official statement here.
US Treasury to Audit FinCEN's Cryptocurrency Practices
Public records show that the U.S. Treasury Department's inspector general is planning to review the Financial Crimes Enforcement Network (FinCEN)'s cryptocurrency practices as they relate to money laundering and terrorism financing risks.
What Else Is Going On?
My Current Sentiment: Bearish.