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<a href="/news/parity-s-multimillion-ethereum-wallet-freeze" title="Parity’s multimillion Ethereum wallet freeze!">Parity’s multimillion Ethereum wallet freeze!</a>
Posted on: 13 Nov 2017 

Posted By: ITWiser Webmaster

Parity’s multimillion Ethereum wallet freeze!


It has been reported that a crypto-currency collector has been locked out of their wallet, the Ethereum multi-signature wallet contains over $1m. This is apparently due to a catastrophic bug in Parity’s software, Parity have said that this isn’t an accident it was deliberate.

On Tuesday the software firm Parity confessed that all of their Ethereum wallets that were created on July 20th or later have been frozen. These wallets require multiple people to sign off transactions before anything leaves the bank. It has been said that this freeze could be permanent which will lock people out of their cyber cash collections. The digital money stores contained roughly around $240m of Ethereum, right now 1 ETH is roughly worth around £304.

ITWiser offer a wide range of services and solutions that can help prevent issues like this from affecting you and your business. We offer internal security audits and external security audits, these audits are designed to highlight issues inside and outside your network. For more information on these or on any of our other services please get in touch today.

The Register