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Parity MultiSig Wallet Exploit Drains Ether Out Of Accounts. by hilarski

View this thread on: hive.blogpeakd.comecency.com
· @hilarski · (edited)
$75.61
Parity MultiSig Wallet Exploit Drains Ether Out Of Accounts.
https://pbs.twimg.com/media/DFIEGQTXYAAbgPF.jpg

# I Really Feel for My Friends at Swarm City. 44,055 ETH Stolen. #

Read the full blog post on the Swarm City Medium account. [Parity multisig wallet exploit hits Swarm City fundsβ€Šβ€”β€ŠStatement by the Swarm City core team](https://press.swarm.city/parity-multisig-wallet-exploit-hits-swarm-city-funds-statement-by-the-swarm-city-core-team-d1f3929b4e4e)

![2017-07-19 15_39_34-(0.00044808) BTC-SWT Swarm City Token.png](https://steemitimages.com/DQmTeTp9zQ4Gzzi9a8kbZ4XBb2sp6zJqHSia47RgHqebUXP/2017-07-19%2015_39_34-(0.00044808)%20BTC-SWT%20Swarm%20City%20Token.png)

## As you can see the crypto currency Swarm City has taken a 50% haircut. ##

As many of you know @AnaHIlarski and I helped Arcade City (now Swarm City) during their ICO phase last year. My heart goes out to the team. The crypto community loves to use multi-sig wallets to protect teams from someone on the team making off with the funds but this time multi-sig wallets were the ones attacked.

### [Tweeted by @CalBlockchain](https://twitter.com/CalBlockchain/status/887742667928608772). ###

<center>https://pbs.twimg.com/media/DFHlPisXkAAT1YG.jpg</center>

#### What it Means to You. ####

This could add more uneasiness to the crypto currency markets. Personally I have moved my trading assets into SBD's (SteemDollars). This is not by any means a call that the market is going to crash. I am just being cautious with my funds.

#### White Hat Hacker is Fighting Back. ####

[The White Hat Group were made aware of a vulnerability in a specific version of a commonly used multisig contract. This vulnerability was trivial to execute, so they took the necessary action to drain every vulnerable multisig they could find as quickly as possible. Thank you to the greater Ethereum Community that helped finding these vulnerable contracts.](https://etherscan.io/address/0x1dba1131000664b884a1ba238464159892252d3a#tokentxns%23%23)

Wallets Saved. [Tweeted by @Crypt0biwan](https://twitter.com/crypt0biwan/status/887786045512843264)

https://pbs.twimg.com/media/DFIMsshXsAE8Zt2.jpg


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@alex-icey ·
$0.45
So insecure. Seems very fishy to me. Thats why you be careful with your assets....
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@arckrai ·
$0.46
There are so many hacks and attacks and scams taking place under multiple ICOs.
Some coins are crashing and burning and ETH has to fall with it as so much Ethereum is lost.
Hopefully in the future security gets better so we won't have to worry about his
Thanks for notifying us @hilarski
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@barteksiama · (edited)
$0.28
Yeah this market is so unstable it's better for amateurs not to invest too much in those new coins. For me it's only Steem and BTC for now.
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@blazing ·
well i hate when these things happen
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@briantec01 ·
$0.25
Just another day in the office lol
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@catonwheels ·
$0.26
It's not been going well for crypto holders this last weel at all, has it?
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@hilarski ·
Rough week all around for the community.
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@charles1 ·
$0.43
@hilarski thanks for sharing this update.  My warm feelings to all the poeple at swarm city for this big loss. i posted on my latest blog post today about this issue (pls see it). I however think that people should buy offline wallets as they are safer. Thanks for sharing
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@cryptofunk · (edited)
Do you have a way of storing SBD offline on paper wallet or are you holding on an exchange? Apologies for being nosy
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@hilarski ·
I prefer to keep it in Steemit accounts. It is just there for very short periods of time.
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@david777111 ·
This is not good.
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@dlina-v-metrah ·
$0.46
And in which currency is better to move - in SteemDollars or Steem?
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@hilarski ·
In times of turmoil SBD because it is pegged to USD. Now SBD will also fall if BTC falls but the fall will be limited.
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@hicmaster ·
$0.46
@hilarski wow so sad i hope they restore their coin :(
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@hilarski ·
$1.02
Tweeted
https://twitter.com/RandyHilarski/status/887776785303314434
πŸ‘  
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@twitterbot ·
### ![RandyHilarski](https://pbs.twimg.com/profile_images/676838926498185216/UpGDCu-N_normal.jpg) **[Randy Hilarski](https://twitter.com/@RandyHilarski/status/887776785303314434)** tweeted @ 19 Jul 2017 - 20:50 UTC

> Parity MultiSig Wallet Exploit Drains Ether Out Of Accounts.
@Steemit [#Ethereum](https://twitter.com/search?q=%23Ethereum) [#SwarmCity](https://twitter.com/search?q=%23SwarmCity)
[steemit.com/warning/@hilar…](https://t.co/oo1QchI232) https://t.co/vUCTRuYsL6


###### *Disclaimer: I am just a bot trying to be helpful.*
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@hms818 ·
$0.52
Sad to hear this depressing news...July is turning out to be very challenging for crypto currencies.
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@jeezzle ·
$0.45
Good thing I'm not holding any ether.
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@hilarski ·
I feel the same way.
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@madelinesanchez ·
Nice article. Really appreciate you bring this to our attention. Not sure if I believe in the current crypto investment climate but I do believe in the blockchain.  We really need more insights in the market and previous investment results. I found this amazing platform: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market.
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@natasmr ·
$0.26
30 Million Dollars! A huge amount of money!!
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@olyup ·
Wow, and multi-sig is supposed to be the high-security way to go. Not holding any ETH, but my tokens are down hard. 

Yikes!
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@rawpride ·
$0.45
Crypto needs to make wallets less scary
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vote details (4)
@rtdcs ·
The cryptos need to evolve a lot!
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@sa2ideas ·
$0.46
we need to counter the all the scammer should be have solution on block chain to stop the scammer and the hackers to steal our coin
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@sminchow ·
$0.29
Dog eat dog out there! Be careful.
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@trendo ·
$0.46
More and more drama. When is it all going to end...
πŸ‘  , , ,
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@twitterbot ·
### ![CalBlockchain](https://pbs.twimg.com/profile_images/875997465559711746/Pu4vQ9Gh_normal.jpg) **[Blockchain@Berkeley](https://twitter.com/@CalBlockchain/status/887742667928608772)** tweeted @ 19 Jul 2017 - 18:35 UTC

> WARNING!! https://t.co/zqt3kBVyXD


###### *Disclaimer: I am just a bot trying to be helpful.*
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@yaan · (edited)
$1.03
Ooohh this is going crazy!
It's another reminder not to plunge all your funds into one coin (If only it's not steem lol).
πŸ‘  , , , ,
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vote details (5)
@chrizbiz ·
$0.45
You're totally right ! just store your funds offline on a hard drive and make a backup !! For trading purposes only store limited amounts :) think that's the best way. Terrible if it overcomes you!! thanks for sharing
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@sa2ideas ·
$0.46
i hate scammer man... they are bloody make our life mess
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