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A major vulnerability has frozen hundreds of millions of dollars of Ethereum

CoinGuyCoinGuy Administrator
Today is not a good news day for Ethereum. A vulnerability found within a popular wallet has frozen potentially hundreds of millions of dollars of the crypto currency in a second setback in recent months.

Parity Technologies, the company behind widely used wallet service Parity, today disclosed an issue that could enable the contents of a wallet to be wiped.

The issue affects multi-sig wallets — a technology that uses the consent of multiple parties for additional security on transactions — that were deployed after July 20. In other words, ICOs that were held since then may be impacted.

It’s a kicker because it is the second time in just a few months that a major Parity bug has been unearthed with potentially costly repercussions for Ethereum, which is the world’s second highest-valued crypto currency with a total market cap of over $27 billion. Back in July, a vulnerability in Parity led to 150,000 ETH (then worth around $30 million) being stolen.
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